Does Everybody Deserve 100 Words?
When trying to get a venture off the ground various options are available for evolving into a service that can serve many. Sometimes it is necessary to look to outside help such as Angels or Venture Capitalists. Rick Segal, a Canadian VC made an interesting post on his blog, “Everybody Deserves 100 Words”. I think it’s an excellent post for those seeking outside help to grow their business. The reason: not the challenge to put your elevator pitch into 100 words or less but the first couple of sentence that puts one in the shoes of the investor which some entrepreneurs find hard to do:
“It’s around 2am in Toronto, midnight here in Edmonton. 260 summaries, plans, ideas, and virtual napkins are staring at me with an evil grin. Grinning because on the flight over, I plowed through 150.”
Rick plowed through 150 plans in a single plane ride? Wow! It just goes to show you how much competition there is out there and how difficult it may be for a potential investor to decide who they’ll help. This is why it is important to have a compelling offering but more importantly the ability to communicate it effectively.
Does everybody deserve 100 words? Maybe, permitted that they have convinced others of the idea, spent time refining it, actually experimented with it to gauge it’s effectiveness, are committed to the idea and can put themselves in the shoes of an investor before wasting any of their time.
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