One of the most powerful ways to describe a startup’s business is to think of an offline analogy. The idea is to create a hook in the listener’s mind so that they understand and remember the startup’s purpose. By using an offline analogy, you connect to a more known quantity.
Here are a few examples:
- We’re like the printing function of FedEx Kinko’s, but entirely web-based with next day delivery at 30% less
- We’re like a manual financial audit by a CPA, but done automatically every night
- We’re like the Manheim Wholesale Auto Auctions, but online for dealers only
It can also be useful to try out a few different offline analogies to find the one that is most memorable. My recommendation is to come up with an offline analogy for your business and use that when describing your startup. The most important goal is to have the person you’re talking to be able to recall it in the future for potential customers, partners, investors, and employees.