Last week I played a bit of a matchmaker – introducing tech companies to the leading venture capitalists in the Bay Area. While the companies had different stories to pitch, and the VCs had different areas of emphasis, the one common denominator in all of the meetings was the emphasis by the VCs to the entrepreneurs to maintain a laser focus on solving one problem and doing it extremely well.
I think it’s the normal ambition of an entrepreneur to do things well, but given the Type-A personality of most entrepreneurs, it’s also common to see them want to pursue multiple problems with their solution. It’s a hard temptation to resist, knowing you could build a solution that has a bevy of features applicable to a variety of problems. But, just as best-selling author Daniel Pink (@danielpink) says in his newest book, Drive: The Surprising Truth About What Motivates Us, it’s critical to come up with a one-sentence description – whether that one sentence describes who you are, what you do, what you want to do, the company you’ve created or work for, etc.
So, for me and the Consort Partners team, I think we’ll keep focusing on public and financial relations for technology companies. Keeping it simple. And focused.