We're not sure where this name came from, but the image is an excellent one: you find yourself standing next to an important venture capitalist in an elevator. The VC just looked at your name badge and said "What's XYZ.com?" You have 60 seconds to say something interesting and engaging, to convey the brilliance of your business. Can you do it?
Here's a great example: "CBO Financial offers a wide range of financial services for non- profit organizations, including bond issuance, online banking, project planning and project management. The non-profit industry is the third largest business sector in the United States, accounting for over $6 billion in just the greater San Francisco Bay Area. Already profitable, we've booked over $100 million in bond work and project management in the last six months."
Here you can see the fundamentals: the one-sentence description of the company (the first sentence), a succinct explanation of the size of the market space, and the state of the company ("already profitable" and "already booked over..").
Exercise: write down your elevator pitch, ensuring that it's no longer than one
paragraph, and that it captures the essence of what you do, and how you're
different, or otherwise has a baited hook for people who want to learn more.
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