Simpler the Better

If you can’t explain it simply, you don’t understand it well enough – Albert Einstein.

When Entrepreneurs are asked to describe their product or service, they sometimes go into great details to explain how something works. In their opinion, the more complex it sounds the more important the idea.

It is actually the opposite. The simpler the description of your product or idea, the easier it is to understand. If a potential investor can grasp your idea immediately, their interest is perked and they might listen to more. If you lose them with complexity, their attention span is over.

This is also true for all stakeholders. Entrepreneurs should make their message simple when communicating change. Simple messages get accepted a lot faster than complex ones.

As Einstein notes, it is possible that Entrepreneurs don’t understand the product, service or idea well enough to explain in simple terms. If so, it is time to go back to the drawing board and learn what you are trying to explain so you can make it simpler to communicate.

Ravi Patel

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Published in: on October 30, 2018 at 4:30 am  Leave a Comment  
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Keeping it Simple

Do you believe that you need more words to effectively communicate your message? Does using too few sentences reduce the importance of your point? Is being verbose mean you are saying something important? If you think so, you might be wrong!

Effective communication means driving home your point powerfully in as few words as possible with a simple message.

People have a very short attention span, especially potential investors. If you can’t communicate your message succinctly yet powerfully, you might lose your audience. That is not a good thing.

Regardless of the target audience for Entrepreneurs – investors, clients, employees, vendors, bankers or others – learn to fine tune your message. Make it short and simple, yet effective for them to understand and retain. The longer you speak or write, the less is absorbed.

People will not say that you didn’t speak long enough, but they will definitely give you feedback that your message was short but effective. Which is preferable?

Ravi Patel

http://www.patelCFOservices.com

Published in: on August 23, 2016 at 4:15 am  Leave a Comment  
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Keeping it Simple

If you can’t explain it simply, you don’t understand it well enough – Albert Einstein.

When Entrepreneurs are asked to describe their product or service, they sometimes go into great details to explain how something works. In their opinion, the more complex it sounds the more important the idea.

It is actually the opposite. The simpler the description of your product or idea, the easier it is to understand. If a potential investor can grasp your idea immediately, their interest is perked and they might listen to more. If you lose them with complexity, their attention span is over.

This is also true for all stakeholders. Entrepreneurs should make their message simple when communicating change. Simple messages get accepted a lot faster than complex ones.

As Einstein notes, it is possible that Entrepreneurs don’t understand the product, service or idea well enough to explain in simple terms. If so, it is time to go back to the drawing board and learn what you are trying to explain so you can make it simpler to communicate.

Ravi Patel

www.patelCFOservices.com

Published in: on November 5, 2013 at 4:21 am  Leave a Comment  
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A Simple Business Plan

When Entrepreneurs hear “Business Plan,” they get worried that they might have to prepare a thick document with graphs, projections and glossy visuals.

In reality, having a business plan is conceptual. If you don’t have a plan in your mind that is crisp and to the point, putting lots of words (and graphs, spreadsheets, visuals) on paper isn’t going to help.

What should this simple business plan include:

  • What are you doing? Describe your product or service in simple , non-technical terms
  • Why are you doing this? Is there a need in the market place? What is the size of the market or need? What share do you expect to get? Are there competitors? Why are you better? What challenges/barriers are there? Do you have proprietary technology?
  • How and where are you going to do this? Describe your organization to design, manufacture/provide, deliver/distribute your offering. What are your selling channels and how will you reach your potential customers?
  • Whom do you have to support you? Review your management team and key personnel
  • What are the economics? How will you make money and how long will it take? How much do you need and how much will you make? How realistic are your numbers?

This is it – plain and simple. If you have thought through all these questions you are almost there. Practice your pitch and perfect it. Now put it in a nice, readable, short presentation and you are done.

Ravi Patel

www.patelCFOservices.com

 

 

 

 

 

Published in: on April 30, 2013 at 5:07 am  Leave a Comment  
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