WICHITA FALLS, Texas (TNN) - i.d.e.a. WF held its first orientation workshop at Midwestern State University on Tuesday, giving entrepreneurs and businesses owners the chance of a lifetime.
“People spend a lot of time in their business everyday they’ve working the counter they’re working the phone they’re working the production but they’re not spending time on their business,” said Jeannie Hilbers, i.d.e.a. WF coordinator.
i.d.e.a WF gives entrepreneurs and business owners an opportunity to finally plant their business’ seeds or expand the businesses they already have, gain invaluable business advice and create jobs in the community.
However, the competition has encountered many challenges because of COVID-19. One positive change has been the increase of the cash job prize which will be awarded to winners.
“Last year, that prize it was $30,000 total divided among all the winners. This year, $250,000 is divided among the winners with each winner winning up to $100,000,” said Hilbers.
To win the grand prize, participants must go through three rounds of workshops to help better their business.
“How to write a business plan, how to read a financial statement, understanding performance statements so all of that will be part of the package which will help them develop their business plan which they’ll submit to see if they win,” said Hilbers.
For some business owners, this will be their second time entering the competition and others say while the prize money will be nice, some things are priceless.
“They have a lot stricter qualifications this year which is good, kind of makes the competition better,” said Jamie Austin, business owner.
“I don’t have a business background so gaining the knowledge and skills required to run a business is where I see the most benefit,” said Bradley Hunt, business owner.
For more information on i.d.e.a. WF, visit their website