Friday, 17 February 2012

Great Business Ideas are like great jokes


Most people who are interested in Business will have started to tune in to what they think makes a great Business idea. There is of course no right or wrong answer, which is why the process can be such an exciting one. There are positioning strategies, competitive strategies, and Business plan approaches galore for those who like reading. Personally I am developing an increasingly severe allergy to reading Textbooks so have to come up with my own theories.

One such theory has been formulated after a few years of kicking Business ideas around and seeing countless others demonstrate what works and does not. It can be said that in many ways a good Business idea is similar to a well considered, and well delivered, comedy styling.

You might have heard of an Elevator pitch. An American concept (but valid all the same) focussed on the idea that whatever your idea is and wherever you find yourself, you should be able to explain it well in 60 seconds. In that short time you should outline: what problem you are solving (if there’s no problem why are you doing it?), how you intend to solve it, and why you (of all people) are going to succeed doing it. Done right one of these little pitches could land you a lucrative second meeting, or inspire a Venture Capitalist on the spot. A successful pitch that works in only a minute is indicative of a much broader appeal to your idea, and evidence that it is founded on something solid which compels the listener.

Compare this with the theory of a joke or wisecrack. There is no Holy Grail of humour, but however our brain is wired up we usually chuckle because we have been taken on a journey, however short it may be. First there is the opener. Often implied by the comics accent, appearance, body language and chosen venue before they even speak their first line which will set the scene or lay out a ‘straw man’ for them to tear down later. Once the folly (or problem) has been laid bare, it’s time to cut it down to size and demonstrate your comedic insight with an observation or assertion. Then round off with a closer which may add another twist to the tale or simply further the initial assertion. Either way the well-practised comic has delivered their tale over the short space of a few minutes and brought the audience into a new way of thinking which has made them laugh. If they really hit the mark then that joke will even be repeated by those who heard it.

So your objective when pitching a great Business to a new listener is much the same. Lay out your stall, apply your kicker, add a twist and convince them you are worth listening to again. On the other hand a poor pitch or a joke that falls resoundingly flat first time is unlikely to land you a captive audience with the same participants in future. Those who practise and hone skills of persuasion and explanation are not immune to delivering a duff pitch or idea but they are far more likely to “get it right on the night” when the big opportunity comes around. Don’t be afraid to get out and practise, there is a reason why even great comics have warm up gigs which are free before they hit the big venues.