A practical guide to the Believe & Achieve competition
The Believe & Achieve business plan competition gives aspiring entrepreneurs a focused way to develop an idea, test its commercial value, and present it to an experienced audience. As part of the 2019 BYU Management Society Asia Pacific Conference in Mongolia, it connects business education with practical feedback, networking, and recognition.
A strong entry requires more than an interesting concept. Participants need to move from an initial opportunity through research, planning, financial analysis, and communication. Treating each stage as a separate milestone makes the process easier to manage and helps ensure that the final presentation is clear and credible.
This step-by-step guide to the Believe & Achieve competition phases explains how to prepare at every point, from choosing a viable business idea to presenting it confidently before judges and conference attendees.
Understand the purpose and requirements
Begin by reading the official competition information closely. Confirm who may participate, how teams are formed, what documents are required, submission deadlines, judging criteria, and the format of each presentation. Details such as award categories and prize conditions can affect how you position your business plan.
The competition is designed to reward practical thinking, so select an idea that addresses a recognizable need. A product or service may be innovative, but it should also have a defined customer, a realistic route to market, and a reason it can succeed in its chosen location.
Create a shared calendar for your team. Include research deadlines, writing sessions, financial reviews, rehearsal dates, and the final submission date. This simple planning step prevents the business plan from becoming a last-minute writing exercise.
Phase one: develop and test the idea
The first phase is about turning a broad concept into a specific business opportunity. Describe the problem you intend to solve, the people affected by it, and the solution your venture will provide. Avoid general statements such as “everyone is a customer.” Define a clear market segment by considering age, income, location, buying habits, or business type.
Research should support your assumptions. Speak with potential customers, review competing products, study pricing, and identify regulations or operational barriers. Even a small number of well-chosen interviews can reveal whether people would actually pay for the proposed solution.
At this stage, also examine the team. List the skills needed to launch the venture and compare them with the abilities already available. A thoughtful plan explains how gaps in marketing, technology, finance, production, or management will be addressed.
Phase two: build the business plan
Once the opportunity has been tested, organize the findings into a persuasive business plan. Explain the value proposition, target market, customer acquisition strategy, operations, leadership structure, and financial model. Each section should support the same central argument: there is a real need, the team can deliver the solution, and the venture can become sustainable.
Financial projections should be realistic rather than impressive for their own sake. Show expected startup costs, pricing assumptions, sales volume, operating expenses, cash flow, and the point at which revenue may cover costs. Include a brief explanation of the assumptions behind the numbers so judges can understand how the projections were developed.
Use concise evidence throughout the document. Charts, customer findings, competitor comparisons, and a simple implementation timeline can make the plan easier to evaluate. Edit carefully for consistency, since conflicting figures or changing descriptions of the target customer can weaken an otherwise strong entry.
| Competition phase | Main task | Useful evidence | Expected result |
|---|---|---|---|
| Idea development | Define the problem and solution | Interviews, observations, market research | A focused business concept |
| Business planning | Explain how the venture will operate and earn revenue | Strategy, competitor review, financial forecasts | A complete written plan |
| Pitch preparation | Convert the plan into a concise story | Slides, speaking notes, demonstrations | A memorable presentation |
| Final presentation | Answer questions and defend assumptions | Rehearsal, data, clear responses | Stronger judge confidence |
| Awards and follow-up | Reflect on feedback and opportunities | Judge comments, contacts, revised goals | A path for continued development |
Phase three: prepare the pitch
A written plan contains detail, while a pitch must create understanding quickly. Start with the customer problem, then show the solution, market opportunity, business model, competitive advantage, team, and financial outlook. End with a clear statement of what makes the venture ready for support or further development.
Slides should reinforce the speaker instead of competing with the speaker. Use short phrases, readable figures, and a consistent visual structure. If the product can be demonstrated, make the demonstration brief and reliable. Prepare a backup explanation in case technology fails.
Rehearse under realistic conditions. Practice within the assigned time, divide speaking roles deliberately, and record at least one rehearsal. Review whether the opening is engaging, whether the financial story is understandable, and whether the final message gives judges a reason to remember the venture.
Phase four: present, respond, and compete
The final stage tests both communication and judgment. Judges may ask about customer demand, pricing, competitors, funding, legal risks, growth plans, or weaknesses in the model. Do not treat difficult questions as interruptions; they are an opportunity to show that the team understands its assumptions.
Answer directly and distinguish between confirmed information and future estimates. If a figure is still being tested, explain how you will validate it. A calm, honest response is more persuasive than an exaggerated claim that cannot be supported.
Conference participation also adds value beyond the judging room. Listen to speakers, attend relevant breakout sessions, and use networking opportunities to compare ideas with business leaders and other participants. Feedback gathered during the event can help refine the venture even if the final award result differs from expectations.
Organize the event details
Strong preparation includes practical arrangements. Review the conference schedule, payment information, travel requirements, presentation instructions, and contact details well before departure. Keep digital and printed copies of the business plan, slides, identification documents, and any required forms.
Accommodation should be arranged early, especially when several teams are attending the same conference. Review the event’s accommodation details to understand available options and plan travel time around registration, rehearsals, and competition activities.
Bring clothing suitable for a professional conference, chargers, presentation backups, and a small notebook for feedback. A prepared team can focus on its message instead of solving avoidable logistical problems during the event.
A practical preparation checklist
- Confirm eligibility, deadlines, submission formats, and judging criteria.
- Validate the customer problem with research rather than relying on assumptions.
- Check every financial figure against the written business model.
- Rehearse the pitch repeatedly, including challenging questions from judges.
- Prepare presentation backups and organize travel, accommodation, and conference materials.
The Believe & Achieve competition phases work best when each stage produces a stronger version of the same idea. Begin with a genuine problem, support the opportunity with evidence, build a disciplined plan, and communicate it with confidence. Review the official BYU Management Society Asia Pacific Conference information, complete each required step on time, and use the Mongolia conference experience to turn a promising concept into a more credible venture.