If you really know what you’re doing, you should be able to explain it in 30 seconds
Every entrepreneur must be familiar with the basic rule of pitching an idea. There shouldn’t be any gagging of words or “I’m building the time machine of this century” quote in the first 30 seconds. Last month I got to talk to Daniel Kranzer as a part of the SAP Startup Studio program. And the first thing he started off in the conversation was this.
“I’m not a techie, I don’t want to hear your tech. Tell me about the problem and your solution for it”
Steve jobs was a visionary. So is Elon Musk and Bill Gates. The exceptional people who have built multi billion dollar companies and had a clear explanation for doing so.Steve didn’t start with an idea to make the revolutionary music playing device or a hundred dollar mobile phone. He had a better explanation. A computer for all of us. It explained clearly what his intention was and everyone was able to resonate with it. So does Google, they didn’t start off to build the page ranking algorithm, instead, they wanted to organize the world’s information and make it easily accessible. There are countless examples for the same if we look around.
I was a programmer. Okay! I am a programmer. Almost all of my failures relate to my technology background and the programmer mindset. I wanted everything to be syntactic. Everything to be aligned to work out. Every component linked to each other and the compilation should lead me to an output I envisioned. The problem with technology is that it sounds complicated and is complicated for non-tech guys. And syntax can’t be considered as a language.
When it comes to explaining your idea, the basic concept is very simple. Your non-techie mom should understand the concept in 30 seconds and your niece in the fourth standard shouldn’t be asking “What?”. This is where the legends get separated. They had a story. Simon Sinek has a clear explanation for why every business should be built on a story and vision. The basic story of why you do it should be the focus. When it comes to technology there is no why. We just do what we’re doing. But explaining it the same way won’t give you business or investment. The problem and its solution, that’s why you build it.
Even if you’re from a technology background, the technology should stay in the backend of your business. The business is driven by the solution you’re making for the problem you’ve found. The solution should be your thought expressed on why you’re building it. That’s the only way you’ll get a business out of it. You get it right? Understanding your business without the technology in it should be the first and the foremost thing for an entrepreneur.
I started thinking out of technology and it’s going well for me. And has helped me in making actionable decisions as well. Maybe you can make something out of it as well. Take some time off, leave every piece of the tech behind and just think about why you’re doing anything.
Have anything to add to this story? I’d love to hear your thoughts. Leave it on comments.