Saturday, 6 November 2010

Conveying your Idea

As an entrepreneur you need to acquire the skill of conveying your idea, may it be for any reason- getting a business partner or building a team or convincing investors! I realized its importance from an experience at home. I'd made up my mind to quit my good job and work totally on my idea. When I discussed this with parents they came up with various questions, countering my points and I felt that my decision was indigestible to them. Then I gave some time to organize my thoughts. The next time when I started with the same discussion thread everyone at home was so convinced that they appreciated my decision. Such a drastic change!

I came across Einstein's statement while I was looking for adopting the skill of convincing- 'If you can't explain it simply, you don't understand it'. To a large extent this is true. Where it is not true it might be because you've not fully thought of about your business and not organized your scattered thoughts about it.

While conveying your idea you should clearly specify how your product will fit in the current usage scenario and why your idea has ability to succeed. If you are presenting your idea to investor go fully prepared. Make your presentation short and sweet. But it should contain all the important points. It is of course good to be optimistic, but be realistic too. Investors are likely to have done more market survey than you, so they are likely to have better forecast! You should clearly highlight them three benefits of investing in your business and return of investment.

Get ready to be a good presenter and be a calm and composed person to participate in healthy business discussion!

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