Submission deadline is fast approaching, August 8^th to be exact. To help you understand what we’re all about, we turned to a former sprout and successful entrepreneur, James Kappan.

James is the founder of our fifth Sprout, Proposable. This subscription software makes creating, delivering and analyzing web-based sales proposals easy and efficient. Since his months in “the box,” James is successfully managing Proposable, and has a lot to say about how working with SproutBox has helped make his vision a reality.

What made you decide to work with SproutBox to launch Proposable?

Sproutbox offers to fund entrepreneurs based on the quality of the idea presented and the resourcefulness of the entrepreneur.

What was it like going through the application process and selection weekend?

The application process was surprisingly straightforward and fun. It helped me put some more “meat” around the idea I had been thinking about for so long. The weekend was cool, but sort of stressful as you are presenting your idea to a very top-notch group of investors and entrepreneurs. It was great meeting everyone and seeing that Bloomington is a cool town.

How do you feel SproutBox has helped your business in terms of development?

Sproutbox provided everything I needed to make Proposable a reality. From the intense planning sessions to the rapid code writing, the entire team did a stellar job of moving from the idea stage to the working site stage.

What was the atmosphere like in “the box?”

The best way I can describe the box is that it’s like your favorite uncle’s basement. Comfortable chairs, games, food and just enough distraction to make it feel like you’re not at “work”. It’s a great place for collaboration among the team.

How did the SproutBox team support you during the transition process?

They provided guidance and strategy right out of the gate. The transition process was the hardest part of the process, as you now have to actually make your idea make money. This was challenging at first, as the project needs time and development to become a stable platform.

What did you most benefit from working with SproutBox?

I think I benefited most from having so many minds to glean from. I tried to learn as much as I could from each person on the team. I realized the value in having others who think very differently from me.

What advice do you have for those who are interested in working with SproutBox?

Really understand and communicate what pain your idea solves. If you can effectively communicate the pain that your ideas solves, then your idea will sell itself.

If you would like to apply to be our next Sprout, applications are due August 8^th.

Apply at http://www.sproutbox.com/apply

There are only a few days left to apply for this round. Applications close this Saturday at 11:59pm. If you’re thinking about applying, but want to know more about how it works, check out this video. It should tell you everything you need to know about the selection process.

SproutBox – How does it work? from SproutBox on Vimeo.

In my role in business development for Sproutbox I see a lot of entrepreneurs and business plans – some good, some not-so-good. Rather than give entrepreneurs a laundry list of suggestions on how to make a good application, I figured I’d borrow questions from one of my favorite authors on entrepreneurship, Amar Bhide.

Bhide believes(and I agree) that there are really three major questions that every entrepreneur must answer:

1. Are my goals well defined? This is the biggest thing I look at when I’m looking at a business plan, and also the place where I often see major mistakes. If you haven’t clearly defined your goals, even in broad terms, then you aren’t there yet with your business. We use our unique application process for new sprouts to review how an entrepreneur has thought about their goals. When I read a business plan or talk to an entrepreneur I’m usually looking for a few highlighted points under this question. For example, does the entrepreneur show that they have their heart in their business, but do they balance that with the need to earn revenue? Does the entrepreneur have a tolerance for risk? Does the entrepreneur know what it means to be scrappy to focus on the goals at hand? At Sproutbox we look for highly dedicated entrepreneurs who want to make money and will stay focused on the goals of their business in order to keep moving forward.

2. Do I have the right strategy? This is really one of my biggest jobs at the box. When an entrepreneur gets going they often haven’t been able to clearly define what the strategy is, how they’re going to grow the business and how they intend to sustain that growth. Sure, I’m biased, but this is one of the best things that Sproutbox offers our Sprouts. Once selected, we take long hard looks at the businesses, their market opportunities, the costs of customer retention and acquisition, and how, based on our experience, they can experience off-the-charts growth. We want our Sprouts to not just succeed, but to dominate their markets, so getting this right is unbelievably important.

3. Can I execute the strategy? At our foundation this is how we work with our Sprouts. There aren’t many good ideas that can be executed without a great team. We realize that our Sprouts don’t have the resources to build and launch their software on their own, and that’s the central service we provide in exchange for equity. Once the product is built, do you have the skills to build an organization and grow market share? If you can’t confidently answer this question, you may want to think about adding a co-founder with complimentary skills. At Sproutbox, our job is to look at an entrepreneur’s answers to these questions and to help them achieve their dreams via their responses. We’re here to help build, guide, and shape businesses for success.

So, have you thought about these questions? More importantly, do you have what it takes to make a new business grow? We hope so, and we hope you’ll apply to build your business with us. Applications are online at http://www.sproutbox.com/apply and will be open until December 5, 2009.