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Final Submission Quicktip

If you registered for the Next Great Innovator Challenge and received a final submission template, or if you carefully read the Rules & Regulations, you undoubtedly recognize the three main sections we are looking for in your final submission:

– Description of teen influence on financial services
– An idea or innovation to consider as a result
– Implementation plan to turn the idea into reality

At the risk of stating the obvious, I will suggest that the strongest submissions will be those that demonstrate clear links between each of these sections. Allow me to explain.

In the first section, you should identify characteristics that uniquely define today’s teens and describe how these traits will impact the financial services industry. Previous blog posts have discussed teen trends that might merit consideration. In order to have impact, the idea you propose in the second section should relate directly to the characteristics you identify in the first. For example, if you emphasize that today’s teens demand immediacy of service, proposing customizable account packages may not be the best choice. That’s not to say that customizable accounts are a bad idea – it’s just not clear how they respond to the need for immediacy. In this case, suggestions for a faster, more streamlined account opening process would be more appropriate.

Bottom line: Make strong connections between each of the sections and your final submission will carry a lot more weight.

Posted by Nelson T. on November 28, 2006 10:36 PM

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