Caution! Apply sparingly. Use this lingo at your own risk.
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In this new year of 2016, you need to have your lingo ready for all kinds of meetings. Read on to prepare yourself. In many cases, I couldn't resist adding a [helpful comment].
This first group of expressions should be useful in many entrepreneurial situations
Fake it, before you Make it
Stop confusing Reality with the Facts
Version 1 is better than Version None
You can't Steal 1st base!
FOMO (fear of missing out)
Don't believe everything you think
Unknown unknowns
Big bad things happen more
I wrote you a 4-page letter, cause I didn't have time to write you a 1-page letter [who wrote that?]
MVP. 'Minimal viable product' [Clich but yet the only way to go]
As they say in engineering: "Speed, quality, price. Pick any two."
Watch how all good ideas progress from new to tried and true: Impossible > Impractical > Possible > Expected > Required
Unobtainium: An all-precious resource required to get the job done
This second group are expressions I think I created:
Mea Culprit [I am the culprit]
Persona Au Gratin [A person with cheese]
Wantrapreneur [Someone who wants to be a successful entrepreneur]
Entreprenaire [The successful entrepreneur]
Entreprenosis [Common maladies of today's tech entrepreneur, for instance: Messiah of the Month Club, Founder's Disease, Borderline Personality and Gimme, Gimme, F___ You.]
This third group are also helpful for your business travels
We sell ______________ to _______________ who want ______________. Unlike ________________, we ____________________ for ______________. [Credit: Dave Bittner, Phoenix AZ]
You can't sell your own deal [Rule in M&A circles]
Likelihood is more important than magnitude [In doing deals, most important is that the deal closes, so don't screw it up trying to get a few points more]
Find the point of NO-resistance (who will pay?)
Create a hypothetical offer (what if you could?....)
It's not about finding investors, it's about creating a company which is worthy of investment
"How are you uniquely solving a problem?"
"I try to leave out the parts of the story that readers skip" [Elmore Leonard?]
"Idea vs. opportunity": is what really defines entrepreneurship. The difference between opportunity and an idea is execution and action; you merely think of ideas, but you take action for opportunities.
Good luck and keep me posted!
