To effectively communicate your business idea and plan, you need to leverage imagination and concrete imagery to plant a clear picture in the listener's mind. Preparing a message that judges and investors can easily understand and empathize with will earn you higher marks -- but don't forget that the real essence comes not from their evaluation, but from the customer.
The Core of Communication: Images and Imagination#
A business message isn't just about conveying information -- it requires the process of getting the other person to imagine the same picture that's in your head. Technology is merely a tool for turning imagination into reality. What matters most is fundamentally understanding what your business is, and delivering it clearly enough that those watching and listening can picture it.
The Essence of a Business Plan#
A business plan is an organizational tool for developing an idea into an actionable item.
During the writing process, you need to be clear about "who you're writing it for," and the emphasis can differ depending on whether it's for investment purposes or government grants. VCs value revenue and efficiency, while government grant agencies value job creation.
One-Page Business Plan Structure#
Keep each item concise -- 2 to 5 lines:
- Business Identity: What is the essence of my business?
- Customer: Who is the core customer?
- Pain Point: What is the customer's biggest problem?
- Competition: What differentiates us from competitors?
- My Strength: Why can I do this better?
- Value: What is the core value being proposed?
- Marketing Strategy: How will I reach customers?
- Required Resources: What resources are needed?
Key Points by Investor Type#
- Pre-startup Package: Whether you'll actually start, prototype feasibility
- Early-stage Startup Package: Revenue and employment growth
- Angel Investors: Commercialization and follow-on investment potential
- General VCs: Exit timing and method, profitability
During VC evaluation, they assess Team, Competition, Revenue, Market, Entry Barrier, Feasibility, and Exit Strategy -- with Exit Strategy being the most critical.
10 Criteria for IR Materials#
- Explain your business in 10 words or less
- Clearly present the customer problem
- Show market size and growth potential
- Define target market and persona
- Identify competitors or substitutes
- Explain your innovation and differentiation
- Visualize the business model flow with arrows
- Explain the first revenue point and maximum revenue point
- Emphasize the "reason" we can do this well
- Present concrete vision and goals for 3 and 5 years out
Tips for Effective Business Communication
Don't just focus on what you want to say -- it's important to structure it around what the audience wants to hear.
Think about what the viewer is curious about, what they want to know, and prepare answers in advance to earn a good evaluation.
The only thing to do with good advice is to pass it on. It is never of any use to oneself.
-- Oscar Wilde
