The benefits of actually winning an award are pretty obvious, and I have to admit that my eyes were definitely on the prize, as I visualised myself at a glittering ceremony with the champagne flowing! However, as I began to put my submission together, I realised the inherent value of simply going through the entry process.
To enter a business award you will probably be asked in-depth questions about your business plan, customers, products, marketing methods and financial success; giving you the opportunity to cast a critical eye over your own plans. How often do you give yourself ‘permission’ to spend time simply thinking about your business?
In my view, even if you don’t make it to the shortlist, entering an award is time well spent. If however, your business is chosen as a finalist, here are some of the benefits you will enjoy given a little effort and a good publicity plan:
- Having your business reviewed by an independent panel of judges adds credibility which in turn helps to cement relationships with existing customers and build alliances with new ones
- Being a finalist gives your business a point of difference
- You can use the award to raise awareness of your business with your target market
- Being a finalist is great for staff morale as well as your own motivation.
Competitions like the FSB Business Awards are obviously designed to give small business a platform on which to promote themselves, so why not make the most of them?
PS. I’m delighted that I’ve been shortlisted in two categories and, if nothing else, have an excuse to buy a new outfit for the Gala Dinner next month!