ENT 526 Lecture Notes - Lecture 5: Elevator Pitch, Compound Annual Growth Rate, Competitive Advantage

• School: Ryerson University
• Department: Entrepreneurship and Strategy
• Course: ENT 526
• Professor: Steve Tissenbaum

Document Summary

Course textbook: bygrave, zacharakis & wise, entrepreneurship (canadian edition). Pain: the bigger the pain the company is solving, the better. One to two minute explanation of your business idea and why an investor should care. It is made up of two main statements: Focus should be on what pain your product/service is solving - why people need your solution. Discuss how your solution works, as well as its value. Contained within your pain statement and value proposition should be four key elements: Irrefutable: the pain statement should not be subjective. Greed inducing: it should illustrate how an investor can make money. Easily understandable: it should be simple enough that both an. Easily understandable: it should be simple enough that both an investor and your grandmother could understand it. Succinct: it should be short enough to be said in three to four sentences or one/two minutes.