Too often I hear pitches from entrepreneurs only to be left less clear on what their business is all about afterward than I was before they began. Presentations to potential investors or even customers can be filled with too many technical buzz words. These entrepreneurs also use language that is intended to impress, but ends up confusing the intended audience. An article in StartupJournal offers some good advice for making a presentation about your business to any audience, but particularly to investors or customers.
“The ability to speak and write concisely and with clarity is fast becoming a competitive advantage for entrepreneurs and small-business owners….Articulating clearly what your business is, what kind of goods or services you sell and how much they cost helps the bottom line. Potential customers or clients appreciate clear and meaningful information. It even can make the difference between success and failure.”
Technology start-ups are some of the worst offenders. “Using plain English is crucial when seeking funding to start or grow a business. Venture capitalists and bankers have little tolerance for gobbledygook. If small-business owners can’t cut to the chase with answers to their questions, their chances of securing funds are basically zilch.”
I was once asked by a friend of mine (a former U.S. Senator) to help him with his struggling consulting business. I started my conversation with my usual question, “So, tell me about your business.” Twenty five minutes later, I finally had to ask him to “Stop!” (I found out from his reaction that Senators are not used to people cutting them off no matter how long they go on). However, I had no idea what he was providing through his consulting services even after his twenty five minute pitch.
So, like any professor worth his salt, I gave him an assignment (he was not used to getting assignments from people either). I told him to go away and develop a twenty five word, not minute, description of what he did in his consulting. I wanted his to be prepared so that when asked at a cocktail party in Washington about what he was doing now that he longer held elected office, he would be ready with a clear and concise answer.
He did it, and it worked. Soon he had a steady flow of business because people knew what kind of work he could perform for them. Good business communication should always be clear and concise, but especially when you are an entrepreneur trying to get the attention of badly needed investment money or customers.
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