First, I admit it: sometimes I exaggerate for effect. And I just did, with my title here. In truth, you still need those summaries.
By the time you’re here on gust.com you’ve probably figured out that the relationship between business plan and short summaries is something like between movie and movie trailer. Investors don’t read the whole plan if they didn’t like the summary.
I deal with about 50-100 business plans annually, for angel investment and several grad-level business plan contests. I go through the summaries of every one and the detail of maybe two dozen or so.
And for me at least, those short video summaries are golden. Give me two minutes in video and describe the key points:
- the problem;
- the solution;
- what’s unique and different about your business; and
- how you’ll make us both money …
… and I’m interested. Even five minutes I’ll put up with, but that’s approaching a tipping point, and it’s not a tip in the direction you want (yawn). Happily, the gust.com platform makes posting video as easy as it’s going to get. And for that matter, use YouTube or one of its competitors, keep it close in and private, and give your target audience a break.
Make it sizzle. Don’t tell me about you, tell me about your buyer. Tell me a very quick story that says big market in the background. Start with you as a talking head – in your office is better than in a dark basement — and keep talking, but please, go from yourself to some pictures that illustrate what you’re saying.
Don’t think that doesn’t mean I want to see a written summary, a slide deck, and a complete business plan. I want them to be there, yes. I might not even watch the video if they aren’t. But my favorite introduction is your video.
All opinions expressed are those of the author, and do not necessarily represent those of Gust.