By Ed McLaughlin with Wyn Lydecker
Can you state your business idea clearly and concisely? If you can’t reduce your idea to a simple sentence or short paragraph, then it may be too complex. And it will certainly be too hard to explain to potential customers, partners, and investors.
Fortunately, before I launched my business, USI Companies Inc, I was able to talk to trusted advisers and customers, who understood my idea right away. My single summary sentence was understandable to them: “We will become a corporation’s single source of management for all their real estate needs.”
In other words, a corporation could outsource their entire corporate real estate department to my new business, USI. At the time of my startup, corporate real estate outsourcing was a breakthrough concept, based on the system I had spent over a year developing with a customer in my previous job. But I was planning to take things even further.
How are you developing your business idea?
“The Purpose Is Profit” is scheduled for release in summer 2014.
Copyright © 2013 by Ed McLaughlin All rights reserved.