Entrepreneurs are smart, savvy people. Hard working, industrious, creative, and the kind of crew who would take a financial windfall (like the one we are offering you below) and make it work for them, unlike, let’s say, some numbskull lottery winners….

 

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    • In the mid-80’s Evelyn Adams won the lottery not just once, but twice. So, did she invest her $5.4 million in real estate or buy a business? Did she save it? No and no. Ms. Adams hightailed it to Atlantic City and promptly gambled it all away. Today she lives in a trailer park.

 

    • Denise Rossi won the $1.3 million California Lotto and promptly filed for divorce . . . except she never disclosed the lottery winnings in the divorce proceedings. Two years later, divorce completed, her husband learned the truth and sued. The judge awarded him every single penny of the payout.

 

Like I said, entrepreneurs are different, and that is why I am excited to let you know about an amazing opportunity to win $25,000 for your small business.

 

Mastercard, in association with Bank of America, is running  the second annual Grow Your Biz Contest.* One lucky winner will get $25,000 to do just that – grow their business. This really is a great opportunity.

 

Here’s how to enter:

 

  1. Create and upload a video (up to 1-minute long) that answers this question: How will you grow your small business? Not sure what to put in your pitch video? You can get entry tips from judge Bonin Bough here.

 

  1. Pitch: Four Finalists will be invited to New York City on November 8 to make their pitch to the judges. The four finalists each will receive $1,000, along with some business consulting and help from the judges.

 

  1. Win: The Grow Your Biz Panel will select one winner, who will receive the $25,000.

 

You can enter here, but remember, the deadline is September 30.

 

So, I will ask the question again, what would you do with an extra $25,000?

 

Let’s think about that for a moment. Unlike a loan, you don’t have to pay this back. And unlike income from the sale of goods, you don’t have to do work to receive it. This is money, and as such, I would suggest it be maximized.

 

What about using it on marketing for example? You could launch a very robust Facebook or Google ad campaign. And the great thing about marketing is that it is the type of investment that tends to pay off long after the actual promotion is over.

 

Or what about opening a new location? Yes, that may be a bit of a challenge on $25K, but then again, you are an entrepreneur. You eat challenges for breakfast. And the great thing about opening another location is that you are creating an additional profit center; something that can pay dividends for years to come.

 

Or what about implementing a new product or service?

 

If you are sensing a pattern to my suggestions, you are right. The chance to receive an unencumbered $25,000 is a rare thing. The savvy entrepreneur would use that windfall to create a long-term investment in the business that will multiply and pay off for years to come.

 

And anyway, it sure beats betting it all on red.

 

Are You a Small Business Owner Interested in Winning $25,000?*

 

Entrepreneurs will receive the chance to win $25,000 when they enter Mastercard’s Grow Your Biz Contest. To enter the Grow Your Biz Contest, small business owners must answer the simple question, “How will you grow your small business?” by submitting a video up to 1-minute long online . Four finalists will pitch their business to the Grow Your Biz Panel in New York City on 11/8/18 for the opportunity to win $25,000 and small business-expert consultation. Learn more at www.growyourbizcontest.com.

 

*No Purchase Necessary. Void where prohibited. Open to small business owners in the 50 US and DC, 18+. Ends 9/30/18. Restrictions apply. Click here for Official Rules and complete details.

 

 

About Steve Strauss

 

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Steven D. Strauss is one of the world's leading experts on small business and is a lawyer, writer, and speaker. The senior small business columnist for USA Today, his Ask an Expert column is one of the most highly-syndicated business columns in the country. He is the best-selling author of 17 books, including his latest, The Small Business Bible, now out in a completely updated third edition. You can also listen to his weekly podcast, Small Business SuccessSteven D. Strauss.

 

Web: www.theselfemployed.com or Twitter: @SteveStrauss

You can read more articles from Steve Strauss by clicking here

 

Bank of America, N.A. engages with Steve Strauss to provide informational materials for your discussion or review purposes only. Steve Strauss is a registered trademark, used pursuant to license. The third parties within articles are used under license from Steve Strauss. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.

Bank of America, N.A. Member FDIC.  ©2018 Bank of America Corporation

 

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