Post #7: Always Be Honing Your “Story”
The story is more than 2–3 lines you use to sell the product during sampling (which you should be doing often). It covers three main things:
1. Where the company is now
2. Where the company is going
3. How the company is going to get there
It will likely take a few months and hundreds of tries to get to a tight 3–5 minutes. Practice as often as possible with anyone who will give you honest, actionable feedback.
Grandparents are a good litmus test. Chances are they know little to nothing about your business. Getting them to walk away with a clear understanding after a few minutes is a big thumbs up.
There’s flexibility in crafting this narrative but, in my experience, here are the main questions to answer:
- What’s the problem you’re solving? — Telling this in the form of story that’s relatable to your audience works well.
- How are you solving that problem? — Description of your product(s)/services(s) in one or two sentences.
- What kind of success have you had? — Most important question of them all. If you have great momentum, make this the focal point of your story.
- What’s the current landscape? — Your competition and how you’re different.
- Is it a big market? — Pretty self explanatory.
- What’s next? — Grand vision/plans for the next 12–18 months.
- How would you spend capital, today, if you had it? — Most relevant when talking to an investor but good to have a firm grasp on as it’s way for someone to understand the most pressing needs of the business