Many small company owners make their business plan models too complex. This hurts their customer’s ability to understand the value they bring to them. More importantly, it also impedes the employees’ ability to solidly get behind the mission that eventually grows your business and retains them in it.
It all starts with a small cocktail napkin and a pen.
- Write the title of what your business does at the top of a napkin. This should be one or two words. It’s the essence of the mission of your company. It is that one word that drives why everything is done. For example, mine is “Unstuck”.
- Write an elevator pitch at the top of the napkin. This is a bit longer at about ten words. It’s the pain the company solves and who has the money to solve that pain. For example, “I help small business owners who want to get unstuck”.
- List your brand. This is what your customers say after they have contact with your company. If could be a list of adjectives on why your business stands out. For example, mine is “realistic, honest, funny”.
- Draw two boxes side by side on opposite ends of the napkin. The box on the left represents your customers and the box on the right represents your company. In between, draw pictures and use words on how your company brings value to those customers. If you can’t easily do this, go back to step one.
Remember to use an ink pen when writing because these are answers that do not frequently change in the life of your business.
As the owner, if you can’t articulate all of this on the back of a small napkin, your employees won’t be passionate about it. More importantly, your customers won’t get it either which will result in lower sales at your company.
What is on your napkin?
