Anatomy Of A Startup – Part IV

If you caught my podcast (Jaime from Eventual Millionaire interviewed me here) then you will know that I am obsessed with business … after all, it’s how I made my second $7m7y!

My passion remains personal finance (which is how I made my first $7m7y): living, breathing, writing, teaching …

But, my hobby (lucrative or expensive, as fate and fortune may rule) is to work on startups; I am already ‘angel funding’ a few … this series is the story of one of them.

I eat my own dog food (actually, it’s cheap, and I kind of like the crunchiness): I just used this tool for my new startup. In fact, I use it for every startup that I have worked on … and, there have been quite a few:

If you’re buying or starting a business, the first thing you absolutely MUST be able to do is put your ‘reason for being’ into a sentence or two.

This is commonly called your ‘elevator pitch’ because you should be able to use it to tell a stranger what you do in between getting on and getting off an elevator!

But, it’s use is far more important than that … it’s to help you make sure that you really have something unique. If you don’t have anything unique in your offering, you will be struggling to sell it to your customers let alone to the people who will one day (you hope) want to buy your business!

For that reason, some call it your Unique Selling Proposition (USP), but whatever you call it, this tool will make it dead simple to come up with yours:

NoteI found this tool a long time ago, but can’t remember the source; if I could, I would share the link here. Until then, use it well. The example provided is from a real business that I looked at starting, and the USP is the real one that we came up with using this tool.

Click to download the Automatic-USP-Generator <<<<==== CLICK HERE

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1. Download the Automatic USP Generator and answer the questions in the right hand column as best you can.

2. Use those answers to “fill in the blanks” in the two sentences just below the question/answer box.

3. Rewrite in plain english – you may need to fiddle a little with both your answers and the sentences that you come up with to make them read well.

Remember: you are trying to come up with something unique!

This tool will take you 90% of the way there, the other 10% is iteration until somebody that you trust, but who knows nothing about your business concept, says “wow”.

Why don’t you share your elevator pitch – it can be for your business, your startup, or just for an idea you are working on – with our readers (in the comments section below)?

I’ll send the best one $100 by PayPal towards your own startup idea. No strings attached!

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