Money For My Business
eBay Sellers Challenge
If you need startup money or money to expand a business, you may want to check out the eBay Sellers Challenge. It could be your ticket to $25,000 in business funding.
eBay recently launched the eBay Sellers Challenge, a unique initiative with a simple goal: empower and inspire entrepreneurs to grow existing businesses -- or start new ones -- on eBay.
To compete in the eBay Sellers Challenge, entrepreneurs must answer this question: "How would I use $25,000 to grow - or start - an eBay business?"
The Prize: Money!
If you win, you'll get a $25,000 business grant.
In total, four winners will be chosen, one from each of these four categories:
- Current or former members of the Unites States armed forces;
- Individuals or small businesses who have not sold on eBay;
- Part-time sellers who want to go full-time on eBay; and
- Full-time eBay sellers who want to grow their business further.
Eight finalists - two in each category - will be selected based on perceived business challenges and obstacles, clarity of business plan, passion for using eBay and appropriateness to contest theme. Buyers and sellers of eBay will then be invited to review and vote on each finalist's entry, and the most popular entry in each category will win. Each of the four challenge winners will receive a $25,000 business grant from eBay, as well as marketing services and support from eBay; runners-up will each receive a $5,000 grant.
In addition to the business capital for a startup or for business expansion, winners will get marketing advice and assistance from eBay. Our guess is they will be very motivated to see you be successful, and that assistance may even outweigh the value of the $25,000.
Entrants are encouraged to submit a business plan and an accompanying video. The business plan must explain how you would go about growing or establishing an eBay-based business, using eBay's powerful tools and their access to a vast population of buyers.
After all, they've got 88 million active users worldwide and more than 15 million average daily live listings. Annual sales on eBay exceed $60 billion. So, what's your plan for leveraging that opportunity into a successful business?
How to Participate In the eBay Sellers Challenge
Submissions will be evaluated by eBay and the Ewing Marion Kauffman Foundation, the world's largest foundation devoted to entrepreneurship. (If you don't know the Kauffman Foundation, you are missing out on a hugely valuable entrepreneurial resource.)
You can get more information on how to participate in the eBay Sellers Challenge at http://sellerschallenge.ebay.com.
Deadline for this entrepreneur contest is July 7, 2009 - that's just around the corner, so get busy. Winners will be announced on August 11.
Good luck!
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Contests can be a great way for startups to raise money. Do you agree? What do you think about the eBay Sellers Challenge? We welcome your comments.