ITNorthWest Voice

This is a blog for all the technology entrepreneurs based in the North West of Ireland - musings about our business, companies, interests, trends and any other random thing that hits us.

Monday, November 08, 2004

Can you pass the VC Elevator Test ?

The 1st test that a VC presents to any budding entrepreneur is usually the "Elevator test" - describe your business in less than 1 minute. Given that most people in the technology investment community have read "Crossing the Chasm" by Geoffrey Moore, you should take a look at his model for this : For (target customers - beachhead segment only) Who are dissatisfied with (the current market alternatives?) Our product is a (new product category) That provides (key problem-solving capability) Unlike (the product alternative) We have assembled (key whole product features for your specific application) Try it out - it can focus what your business is all about quite quickly !!


Post a Comment

<< Home