Monday, April 1, 2013

Ditch the elevator pitch and try these alternatives

From: SmartBrief on Entrepreneurs
Date: Wed, Mar 27, 2013 at 10:48 PM
Subject: Ditch the elevator pitch and try these alternatives





Device reads muscle movement to control on-screen action | Why leaders should model themselves on Margaret Thatcher | Getting customers to embrace changes in your offerings
Created for profjorge.entrep@gmail.com |  Web Version
March 27, 2013
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Bold VenturesSponsored By

Device reads muscle movement to control on-screen action
Thalmic Labs, which was founded by three graduates from the University of Waterloo (Ontario), is producing an armband that can monitor muscle movements and relay the information to other devices through wireless connections. The armband, known as the MYO, functions as an interface between person and machine that developers could use for all sorts of purposes. "[Developers] are free to use the device for whatever they are interested in, and we've had all kinds of different ideas," said Stephen Lake, the company's co-founder and CEO. Reuters (3/26)
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Leading the PackSponsored By

Why leaders should model themselves on Margaret Thatcher
Recently released papers shed light on former British Prime Minister Margaret Thatcher's handling of the Falklands crisis, writes Heritage Foundation fellow Luke Coffey. Thatcher's decision to go to war came at a time of uncertainty, confusion and conflicting advice from subordinates, making her stand all the more impressive, Coffey argues. "Perhaps the biggest lesson one can learn is that making the right decision is not necessarily the same as making the most popular decision," he writes. The Huffington Post/The Blog (3/24)
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5 Key Success Factors for the Subscription Businesses
In the subscription economy there are a few factors that determine success or failure, if your customer isn't happy your business isn't happy. Do you have the right data and metrics to determine if the relationship is successful? Beagle Research gives 5 critical factors that determine if a subscription offering succeeds or fails. Download the free report now.


Finance & Growth

Ditch the elevator pitch and try these alternatives
You've probably heard of the elevator pitch -- a 30-second description of what your company does -- but how about the one-word pitch? "Reducing your point to a single word demands discipline and forces clarity," according to author Daniel Pink. For example, Barack Obama's one-word pitch during the 2008 presidential campaign was "hope." Alternatively, you could try to phrase your pitch in the form of a question or in the form of a story, Pink says. Forbes (3/26)
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Getting customers to embrace changes in your offerings
You might think customers would be quick to embrace improvements to your products and services, but people are often wary of change and the time it takes to adjust to it, writes Janine Popick, CEO and founder of VerticalResponse. You can manage this uneasiness in several ways, such as by telling your customers how they will benefit, supporting them as they make the switch and giving them a good deal, she writes. Inc. online (free registration)/Basement to Boardroom blog (3/25)
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The Whole Entrepreneur

Face your fears to make tough choices
At times, fear might prevent you from making a tough decision. In these situations, it's important to figure out exactly what you're afraid of and face your anxieties directly, according to psychologist Larina Kase. "We reduce anxiety by challenging negative thoughts," she said. It might be tempting to do as much research as possible before making a decision, but choices are often better when you trust your instincts, Kase said. The Globe and Mail (Toronto) (tiered subscription model) (3/25)
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Ideas for Innovators

Why creating a playful culture is good for innovation
Encouraging your employees to play in the workplace can help to spur innovation, according to Stuart Brown, the founder of the National Institute for Play. "Read a novel, take a nap, code, volunteer, create," he advises. "When employees are given an opportunity to not have someone looking over their shoulder to see what they're producing, there are payoffs, such as patent applications and new ideas." CIO Insight (3/26)
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Fortune from Failure

Don't get discouraged by a failed product
It isn't the end of the world if one of your products turns out to be a flop, according to Peter Clark, co-founder of Userfox. "[H]aving feedback that no one wants your product is one of the best outcomes -- because at least then you know and you can move forward," he said. The key in these situations is to "keep your head down and continue working even if it doesn't work out the first time," he said. Investors typically don't worry about the fact that you didn't succeed with a past product, he said. VentureVillage (Germany) (3/26)
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SmartQuote

[Y]ou have to approach launching a product with the expectation that you'll have to let it go if it doesn't work."
-- Peter Clark, co-founder of Userfox, as quoted by VentureVillage.
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