Here’s a great concept I originally learned from Babak Nivi, an entrepreneur and investor who also runs the website VentureHacks.com.
It’s called the “High Concept Pitch,” and this concept is critical to both your capital raising and marketing efforts.
What is a High Level Concept Pitch?
A high-Level Concept Pitch is a single sentence pitch that gives concise and compelling presentation of an idea, project, or product, designed to capture the attention and interest of stakeholders or potential partners. In other words, it’s like a super-condensed elevator pitch.
Hollywood has used and perfected the art of the high concept pitch. For instance, the movie Aliens was promoted as “Jaws in space!” And some smart emerging companies have also used high concept pitches.
For example, Dogster promotes itself as “Friendster for dogs” while Bookswim describes itself as “Netflix for books.”
So, why are high concept pitches so critical?
First, they allow others (consumers, investors and the media) to instantly understand what your company does. For example, if you know what Netflix does (DVD rentals via the mail), you can instantly understand that Bookswim offers book rentals via the mail.
As a result, the high concept pitch is the perfect tool for consumers and fans who are spreading the word about your company. Investors use the pitch when they tell their partners about your company. And the press uses the pitch when they cover your company (which also allows their readers to quickly understand your company).
Secondly, a high concept pitch offers some proof to potential investors that the business model makes sense. For example, an investor might think, “well Netflix has been really successful, so the Netflix business model works; so applying that same model to books also makes intuitive sense and should be successful.”
So what’s your high concept pitch?