Chances are, if you’re an entrepreneur or small business owner, then your bucket list has the following item on it: win business award. Has the time come to get serious about this goal and make your dream a reality?

If so, then this insider’s guide is for you. Learn everything it takes to become a winner, from finding just the right competitions to crafting the strongest application possible.

Why small business awards matter: Credibility and visibility

Imagine hearing your name called, walking onstage, and claiming your trophy. Now imagine adding a badge or banner to your website, announcing that your business has just won an award. Next, imagine sending a newsletter to your loyal customers and releasing a press release about the win; reporters call, resulting in a rush of free PR and media coverage.

Companies that win awards gain a valuable stamp of approval and increased brand recognition. Studies show that earning the recommendation of independent judges impresses potential customers and reduces their uncertainty when contemplating a purchase. Research has also demonstrated more important results: improved sales and increased staff morale.

Award-winning businesses also tend to be better businesses due to the submission process itself. Another study has concluded that, in the process of crafting an awards entry, many business leaders discover ways to improve their operations and take steps to make their organizations better. Over time, the company not only becomes a stronger contender but also transforms into a more profitable and powerful business.

Finally, this third-party validation can also impress the entire business community, leading to networking opportunities, new partnerships, and collaborations with the very people you’ve always admired from afar. Honorees get a competitive edge over their rivals and establish the business as a force to be reckoned with in their respective sectors.

Finding the right prestigious awards for entrepreneurs

Start dipping your proverbial toe into the world of awards, however, and you will soon learn that there are many, many awards programs. If you have an American business, for example, the U.S. Small Business Administration gives out awards every year. So does The Stevie Awards, local chambers of commerce, and trade associations of all kinds, to name just a few of the options. Whether you’ve just launched a startup, have a small company, or own a major multinational corporation, there are accolades that aim to shine a spotlight on your contributions.

To be successful, you will need to find the right awards, those that align best with your own particular business. A good way to get started is to consider how your business, in general, and individual team members in particular, excel. Many industry-specific competitions aim to recognize and celebrate these exact strengths.

Selecting the right contests to enter isn’t just a matter of establishing your eligibility, however. It’s also a strategic decision. Which prizes would matter most to prospective customers? Those are the trophies, plaques, and certifications that can take your enterprise to new heights, so they are the ones you should vie for.

Sound too hard? Keep in mind that, even if you don’t win this year or next, simply the process of nominating yourself and your team and working to improve your materials year over year will increase productivity. That’s why it makes sense to enter even if you don’t think you have a realistic chance of winning. In addition, don’t forget that victors often feel surprised when the day comes that their name is called.

How to apply for awards

Once you’ve decided which contests you’d like to enter, the next step is to pay close attention to the timeline that governs them. Generally, awards programs only accept nominations for a couple of months — or even just a few weeks — each year, so be sure to put any key dates for submissions in your calendar. Also, set reminders in your calendar to start preparing your materials for submission.

Granted, small business people are busy, and it’s easy to miss these deadlines. The good news is that you can still submit award nominations, as some organizations accept entries throughout the year.

Another mistake that many business leaders make is underestimating the time and effort required to prepare these applications. Remember that this process can be leveraged to elevate your entire enterprise. That’s why it deserves to be prioritized. Throwing a file together at the last minute isn’t just unlikely to persuade the assessors, but also does a disservice to your own business.

Accordingly, set aside plenty of time to research what it would take to win specific industry awards — including looking at what made past winners appealing to evaluators — and get your dossier ready. Ensure that you include detailed case studies and other evidence of your business’s excellence. Only those businesses that invest the time and effort can make the jump from nominee to shortlist, much less to champion.

Get recognized as a winner

You know your team is full of industry experts who consistently deliver exceptional work. Now it’s time to let the world know, too. Winning awards grows this brand awareness and provides measurable results.

Imagine announcing to your team that they’ve just won a prestigious award. That sense of pride and accomplishment can be yours, but only if you try. Submit yourself and your team for consideration in 2025!