It’s not always true, but ‘simple stupid’ business ideas often have a better chance of attracting consumers, convincing investors, and ultimately, making a pile of cash.
Consider…
(1) iTunes
Description: Browse and download millions of songs, play them them on any device.
Result: iTunes is the biggest music retailer today.
(2) YouTube
Description: User-uploaded videos (including music videos).
Result: YouTube is easily the most heavily-trafficked platform for streaming music online, on-demand or otherwise. In fact, it is several times larger than the next-biggest platform…
(3) Pandora
Description: Recommendation-focused internet radio, built around the artists you like the most.
Result: More than a billion listener hours a month; Pandora is the largest internet radio service and accounts for nearly 8 percent of all radio listening in the US.
(4) Beats by Dre Headphones
Description: Better-quality headphones for more serious, fashion-conscious listeners.
Result: Beats by Dre created an entirely new, serious category of headphone listeners, while moving large masses of users off of white earbuds.
(5) Spotify
Description: Millions of songs streamed on any device, for one low monthly cost.
Result: 6 million subscribers worldwide, potentially multiples of that ahead. Hundreds of millions of investor dollars. A chance to change the way people listen to – and maybe, discover – music.
(6) Shazam
Description: Identify any piece of music, wherever it’s playing.
Result: 300 million users (as of February), 10 million tags a day, 5 billion tags since inception. 1 out of every 14 paid downloads now comes through Shazam ($300 million a year, or roughly 7 percent of all paid downloads).
(7) Sirius XM Radio
Description: Superior radio, beamed from a satellite for a low monthly cost.
Result: Sirius is by far the largest subscription service in music with 24.4 milion paying subscribers.
(8) BigChampagne
Description: Data-tracking for digital music formats.
Result: Acquisition by Live Nation Entertainment at a valuation approaching $30 million.
(9) Digital Music News
Description: Information and analysis for the music industry community.
Result: You’re important, and your time is valuable. And this is what you’re reading right now.
(10) SF MusicTech Summit
Description: A simple music conference for tech-focused music startups and companies.
Result: SF MusicTech is now one on the few music conferences actually growing, with a lean, one-day approach and well-targeted audience.
Image by Kevin Dooley, licensed under Creative Commons Attribution 2.0 Generic.
All of these entities had serious cash behind their promotional efforts. A brand building “sentence” by itself would do nothing.
The point is less that a one-sentence pitch MAKES your business and more that there are too many people chasing ideas and startups that they can’t even describe in layman’s terms to their potential userbase.
Maybe a teeny weeney bit self serving to include DMN in this list?
Adva Mobile – Everything the Artist needs to acquire, engage and sell to fans on mobile phones.
Hmmm…let’s see
Hifidelics – Indie artists can release high quality, collector vinyl without the typical financial risk and burden.
Yup! =)
http://www.ted.com/talks/simon_sinek_how_great_leaders_inspire_action.htm
Being able to describe your mission statement in one sentence helps..
more important is to believe and understanding the why..
Earbits
Commercial-free, streaming music designed to turn listeners into fans and customers of artists.