This was the interview of the 1000 questions. Jade started with a very succinct and short elevator pitch. He talked about having purpose before profit and providing honest feedback that accelerated a company’s growth. Being a big fan of brevity like Jade myself, I actually loved the fact that his pitch was short. But I wanted to polish it further. The 1000 questions came in when we had to figure out what the most commonly encountered, most expensive problem was that he solved. Jade talked a lot about the finances of a business being a problem for up and coming entrepreneurs. I drilled down into what kind of problems these were, and how they were manifesting as results in the business. Was the problem with getting financing or with where the money was being spent?
It took a lot of back and forth discussions to convince Jade of the true consequence of the lack of financial education for entrepreneurs. We determined that not a lot of them are closing their doors. So, I had to come up with the actual resulting consequence on my own: that the majority of business owners don’t make profits for a very long time. That means running businesses while starving. That means not contributing to their family’s income and being a drain rather than a value to them. This is a heavy pain point indeed. And it’s sadly more common than anyone would like to admit.
At the end, I’m not sure if Jade was convinced that my version was a fit for him, but he did state that he would add this talking point to his pitch.
My last advice to Jade and to my students is to grab the attention of your prospects within the first 7-10 seconds of opening your mouth. Don’t let the good stuff that’s about THEIR pain be buried at the end where they’ve already fallen asleep at the wheel.
If you thought what Jade went through was a great experience, email me at firstname.lastname@example.org to be my next guest. I welcome all your comments and also don’t forget to subscribe and rate our Podcast!
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