You built your company and know it inside and out. Yet so often when it comes to explaining what you do, it becomes difficult to put into words. Products may be hard to describe and services seem complicated.
I’ve had moments when I’d start pitching and by the time I finished everyone was confused, including me. Trying to fit in every feature, benefit, mission & vision, and all the wonderful things about my company. But at a basic level, I wasn’t clearly articulating what it is I *do*.
We spend so much time deeply involved with our companies it’s easy to forget that not everyone is familiar with our industry.
There are many formats and formulas for clarifying your business model.
It’s a quick exercise to distill your business statement down to one sentence.
Describe it to someone in a conversation or a text. Speak it over and over to identify where you can refine it. Think about street vendors. They spend all day pitching the same product hundreds of times. As a result, they’ve tweaked and refined their pitch to be more effective.
It’s also natural that your business statement will also evolve through the life of your company, besides during this development phase. As your business grows, perhaps your differentiators or targets change, perhaps you refine your niche focus, it’s good to run through this exercise and update your statement.
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