Upand$tarting

Do you remember the old game show Name That Tune?

Two contestants competed to earn the most points using their music knowledge. The final round pitted the contestants against each other to see who could name a song by listening to the fewest number of notes. The two contestants would go back and forth. The first would start it by saying “I can name that tune in 10 notes”; the second would deliberate and say “I can name that tune in 8 notes”. When the number of notes got too low to bring a competing bid, the other contestant would yell out,”Name that Tune!” The other contestant then had to make good their bid and name the tune.

So how does that relate to your start up?

Well, the fewer words it takes to describe your idea to another party (be it a VC, Angel, Loan Officer) the better. Not only will you succeed in describing your business – but forcing yourself to streamline your message keeps you on point and understandable.

Hey, we’ve all been continuously drilled about the elevator pitch. It has its merits and its uses. Ultimately, if your idea is understandable when expressed in a minimal amount of language, you will get your shot to present a more detailed understanding of the idea, market, value and potential. On the other hand, if you can’t provide the “Aha!” moment to your listener within seconds – you will potentially lose their attention. Also, if your idea is complicated to understand – you’ve created an immediate hill to climb in order to create a revenue-producing event.

Keep these three rules in mind when you are developing your pitch.

1. Simplify – reduce your message to the most economical size that still allows you to get your point across.
2. Make a mantra – more than just a tag line, develop a mantra that is easy to remember, captures your culture and gives the “Aha!” moment to your audience
3. Refine, but do not stray -constantly strive to refine your message – but do not stray too far from your core principles.