Archive | September, 2009

Why AnyClip was the most exciting startup at TC50

To some up this year’s TC50 experience I wanted to write about the most exciting company there, AnyClip (full disclosure, Nate and I are good friends).

1) The product looks damn good

First and foremost, the product looked damn good for only four months of work.  Within a few seconds of looking at it, even from the back of the room, you could tell what it did.  Compare that to all the “realtime web” applications that just had long cluttered pages of “lifestreaming” data, this one really stands out.

2) The pitch was smooth, slow, and confident

Aaron’s spoke about his company and the space they’re in with AUTHORITY.  Not something you see from the first timers.  He spoke slowly, and described the product in simple terms everyone could understand, while keeping them entertained with an exciting demo (and some crass jokes).

More importantly he didn’t cram in 2000 details about the features, and he got straight to the important issues that the judges wanted to discuss

3) They’re taking a huge risk, and thats what startups are about

There was no sneaking around the licensing issue.  Its the 1000lb gorilla in the room.  Everyone knows it, and everyone wants to see them suceed.

4) Like I just said, EVERYONE wants this to happen

Who hasn’t said to themselves “oh shit, what movie was that,” in a conversation with their friends.  Its something that everyone from my grandma to girlfriend or sister (people that don’t fall into the uber nerd category) can understand.

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How to describe your startup, and make it stick

After 2 days at TC50 running through the DemoPit gauntlet, I was surprised by how many people have a hard time communicating their business idea.  To make the most of a PR opportunity like TC50 your Sales team, community, and product all need to be in lock step with a great message.

Here are a few steps to help out:

1) Keep it short

The startup world is booming and with so many companies out there its really hard to get anyones attention.  Investors, possible partners, and acquirers are looking at new ideas all day long, so they need to know what you do in 30 seconds or less. 

Angelsoft has this nailed down with their “one line pitch”.  Lead with a very short, comprehensive explanation of what your company does and why its different.

2) Make it visible

Once you have this perfect one line pitch, put it out there so everyone can see it.  On your website, make it stand out.  Get marketing, sales, and product all using the same vocabulary, so you’re customers see one consistent message. 

At your booth in the DemoPit make it visible so someone can see what you do before coming in for a more detailed discussion. Investors and other interested parties don’t want to waste their time or yours, so help them find you.  This last part is KEY!  A half dozen investors mentioned how difficult it was to approach companies without knowing what they did.  Make it easy for them to find you, and you’ll have a lot more highly relevant conversations.

3) Keep it simple

Use words that your customers, or your mom can understand.  Here’s a great example from Get Satisfaction, a community based customer support site, where they ask their customers how they would describe the service to their mom.

Leave out the buzz words and stick to common sense descriptions that a wide audience can understand

4) Know what your cutomers are hearing, not just what you’re saying

This is the all so important feedback loop.  Even once you get your message nailed down, you may not be spreading the right message.  Theres a big difference between what you think you’re saying, and what the customers are hearing.

The example by Get Satisfaction above is one way to get feedback on how your customers see your product.  My buddy Dan Martell , suggested that investors just ask their users what 3 words come to mind when they think of XXX company.

You need to be describing your company using the same words that they would use, and you know you have a problem if they describe something completely different than what you built.

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