Growth5 Blog

Monday, April 26, 2010

How's Your Vision?

Do you have a vision for your startup? Great post here to get you thinking about the kind of vision that will help "separate investors from their money." Some examples:
Facebook isn’t a social network. Facebook “gives people the power to share, making the world more open and connected.”

Plancast isn’t a place to share plans. It’s a “platform for all intent data.”

Sequoia isn’t a VC firm. They’re “the investor and business partner in companies that make up over 10% of NASDAQ’s value.”

Twitter isn’t [insert whatever Twitter is here]. They’re “the best way to share and discover what is happening right now.”

Google isn’t a search engine. They “organize the world’s information and make it universally accessible and useful.”
The key is to come up with a vision that will differentiate you from every other startup out there in your space. The post gives the following pointers for the creation of your vision:
1. Your vision isn't a replacement for traction and milestones.
2. Don't be too abstract, be concrete.
3. Your vision should be aspirational, not just where you are today.
4. Keep your vision crisp, short and articulate. Don't belabor it, consider mentioning it once at the beginning of your pitch and once at the end.
5. Remember that your vision is free. Unlike your product, team and traction, you can literally make it up.
The very first exercise we take on with the firms we engage with is a positioning facilitation to discover their differentiation by refining their vision. We have found it to be crucial in establishing the foundation for their marketing.

You might be surprised to find out how powerful it can be to have your whole organization (no matter how small) speaking the same language about your firms' vision – establishing your position and differentiation in the marketplace with everyone your team talks to: prospects, current clients, vendors, future employees, partners, potential investors...

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