Vancouver Island Salt Co. employee Bryan Krueger weighs and sorts sea salt at the company headquarters in Cobble Hill, B.C.Amanda Palmer/The Globe and Mail
(To enter the contest, click here.)
There's no magic formula to winning the Challenge Contest, but there are ways to stand out from the competition. Previous winners offer pointers for submitting an application that can catch the judges' attention.
Dare to be different
Make sure your application conveys how and why your business is unique in your market, says Andrew Shepherd, CEO and co-owner of Vancouver Island Salt Co., which won last year's contest. "At the heart of the contest is having a business that stands out," he says.
Show why you're leading the pack
Highlight your strengths and clearly show why your business is either at the top of its field, or about to become the top dog, Mr. Shepherd says.
Be passionate
Now is not the time to be shy about showing the passion and purpose behind your business, says Ross Thurston, president of Calgary-based Livestock Water Recycling Inc., which took the grand prize in 2013. "We really believe in our business and the good we're doing for the environment," he says. "I think that passion showed through in our application."
Demonstrate growth potential
Both Mr. Thurston and Mr. Shepherd emphasize the need to show that your business is poised for growth. If possible, include sales figures, current market share, and research-based projections for future growth.
Take your time
While the application itself is short and sweet, it's important to take the time to craft your entry, Mr. Shepherd says. He suggests working on the application with your partner or team, and reviewing it several times before sending it off.
Learn from the process
The act of filling out the application is also a process of discovery, Mr. Shepherd notes. "It's a good test of how dedicated your team is to your business and to your craft," he says. "I'd actually venture to say that if your team can't knock off the application from the knowledge in your heads, then you're not ready to enter the Challenge."