Friday, December 30, 2011

The spectrum of describing your business

There are times when you will need to explain what your start-up does in full detail, and times when all you get to provide is what will fit on a bumper sticker.  So, here's my shot at the entire spectrum of forms that explain your business, from longest, to shortest:

1)  Full written business plan (some start-ups don't do this anymore)
2)  Business plan presentation (your presentation slide deck...sometimes a proxy for a written business plan)
3)  Executive summary (1-2 pages, typically the first section in your business plan)
4)  Elevator pitch (explain your business in 3-5 minutes)
5)  Mission statement (1-3 sentences that describe your company's purpose)
6)  Bumper Sticker (up to five words that describe what your company does)

So, as you move forward with your start-up, have each of these ready for whenever you need them.  Who knows, your next customer or next investor might be sharing an elevator ride with you tomorrow.

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