If you’ve always wanted to ditch your day job and start a company, the Shopify Build a Business Competition may be the best way to do it. Last year, the competition saw 21,000 businesses create a combined $120 million in sales in under eight months. This year’s event should be even better and boasts a uniquely attractive top prize.

How the Competition Works

Shopify’s contest is pretty simple in reality: just come up with a product, open a new Shopify store and sell as much of your inventory as possible. Obviously, you’ll need to register for the contest by March 31st since it’s based on selling the most for two months between October 31st and May 31st.

What’s at Stake

The winners of the 5th Annual Shopify Build a Business Contest will get a complimentary trip to Richard Branson’s Necker Island. He’ll wine, dine and educate winners on the finer points of entrepreneurial success. Daymond John, Marie Forleo, Tim Ferriss and Seth Godin come along for the ride. The top five Shopify sellers by gross sales take the prize.

Why You Should Join the Fray

Besides the potential for hanging out with Sir Branson and picking his brain, there are a few other great reasons to throw your hat into the ring. For one, the Shopify contest is the perfect motivation to get your business off of the ground. Also, you’ll get a first-hand education on running an e-commerce shop.

Tips & Tricks for Beginners

While there’s no magic bullet for winning, there are a few ways to stand out. First up, think outside the box and come up with a truly unique shop. Digital goods in particular can be very lucrative. Regardless of what happens, the experience and lessons you’ll learn are worth making the effort.

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