Business growth: Explaining what you do
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“We network networks.” In a bold stroke of bravado, Cisco Systems co-founder Sandy Lerner gave what is now known to be one of the most specific descriptions of her company that has ever been recorded. The statement, consisting of only three words, described EXACTLY what Cisco did as a company. And the rest is history.
Michael Moritz of Sequoia Capital, one of the original investors in Cisco, commented in an article for Inc. magazine, that the three worded statement was ‘one of the best headlines he had ever heard.’ Moritz went on to say “You cannot lead an individual-let alone a team or an organization- without being able to clearly communicate the direction in which you want to go.” Moritz summarized his thoughts by mentioning that the mission of your business needs to be described in one sentence.
Clearly, as the owner or manager of your business, you and your staff need to be able to articulate what your company does, in as few words as possible. There are many opportunities that present themselves everyday, where you and your company personnel can tell someone about your particular business. Striving to be as succinct as possible in your explanation can help take your business to the next level of growth. If you are talking to a potential client, chances are very good they do not want to hear a drawn out description of what you do. They want to know, in as simple an explanation as possible, what you and/or your firm can do to solve their problem.
The key is developing a simple, yet user friendly, explanation for presentations, meet and greets, or even social situations. The phrase ‘You never get a second chance to make a first impression’ is very appropriate. The acronym KISS is another means of encouragement to develop something meaningful and straight forward. KISS is short for “Keep It Simple Stupid.” Yet another example is pertinent to drive this point home. If you ask someone what time it is and they tell you how to build a watch instead, you are clearly talking to the wrong person. If you ask someone about their business and they give you a lecture on when the company began and how it has grown over the last one hundred years, you are clearly talking with the wrong person.
In her book, Small Message, Big Impact, author Terri Sjodin is very straight forward in how to develop a great description for what your company does.
According to Sjodin, in most situations you have to explain what your company does, there is a three minute window of opportunity to effectively communicate what your company does before your potential customer loses interest. The explanation should be “A brief presentation that introduces a product, service, philosophy, or an idea. It’s general purpose is to intrigue and inspire the listener to want to hear more of the presenter’s complete proposition in the near future.” Think back to the Cisco statement mentioned earlier. Each word is impactful. Just how impactful is up to you. Your objective is to be succinct and informative, without getting bogged down in the details. Think back to the request of someone asking you what time it is; give them the information they need.
Sjodin says “Your goal is to be both informative and persuasive, pairing rock-solid information with compelling arguments. If you are too informative, nothing happens. Find a balance and you’ll see the results.”
Jason Feiffer, a writer for Entrepreneur magazine, cited several examples in a recent article for the magazine. “Whenever we get someone’s attention, we go into what I like to call ‘density mode’…….If we have a minute of someone’s time, we’ll talk fast to squeeze in more facts, but consider this: What if, no matter what, your audience will only remember one thing you said or did?”
Feiffer went on to beautifully state how to succinctly explain what to do. “Instead of slamming people with stuff they won’t remember, carefully illuminate the one thing they will. It begins by knowing what they really want. Talking to a customer? Nobody wants a lengthy sales pitch; they just want to know how you solve their problem. Pitching an investor? Avoid the weeds, and hit them with the opportunity they can’t ignore.” The key takeaway for your company is to present a simple enough reason or provide someone with enough insight to want to do business with your firm.