“The Five Breath Test”

By: Jeffrey Burnel

 

Here is what appears to be a pretty simple (at least it seems so at first) test every entrepreneur (or any business owner for that matter) should be able to answer and it makes a really compelling executive summary. "The Five Breath Test".

 

1. What is your business idea?

• Be direct and clear
• Avoid jargon
• Be passionate!

2. Who needs it, and why ?

• Clearly describe the problem to be solved ~bring it to life
• Define the market with the problem
• Connect the listener to the problem in some way ~ make it credible, ideally personalize it!

3. Why you?

• Separate your idea from competition
• Describe your sustainable competitive advantage
• Provide "permission to believe"
• Highlight this team’s capability to deliver

 

4. Why is now the right time?

• What’s driving the sense of urgency
• What has changed or emerged in the market making this a feasible proposition?
• Avoid claim: "first to do it"
• Connect the key elements together

5. How will you (or investors) make money?

• Be realistic; don’t over-promise
• Due diligence will uncover the truth
• Provide a rational exit strategy
• Investors need to see the way out

See this and other newsletter articles at http://amt-mep.org/files/9614/2115/5399/2015-01.pdf

 

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