The answer to this question is definitely ‘yes’. And more, you should sum up your business this way. If you can’t, you probably haven’t thought things through with enough rigour.
The three-sentence pitch is often called an elevator pitch, the idea being that you can pitch your idea to a potential stakeholder in the time it takes to ride an elevator (or a lift, if you’re in Britain). We’ve heard many such pitches that assume that the elevator gets stuck half way.
You should be able to write your pitch on the back of a beermat. Three simple, clear sentences: pain, premise and proof.
The first sentence, pain, does two jobs. It defines your customers and it says what pain you solve for them.
Defining customers is important – we often meet entrepreneurs who say their idea is for everyone. This is a danger signal – something for everyone usually ends up so general that it doesn’t appeal strongly to anyone, so misses out to more targeted offers. Yes, there are exceptions. Microsoft sought to ‘enable everyone to harness the power of personal computing’ and haven’t done too badly out of that. However most new businesses serve smaller niches, and a lot of their success comes from understanding exactly what niche they serve and exactly what the inhabitants of that niche need.
We say ‘need’, not ‘want’. A serial entrepreneur we met in America told us that his motto in looking for new business ideas was ‘Where’s the pain?’ This struck us as an infinitely superior approach to that espoused by many marketeers – ‘How can we sell this?’ We have seen too many businesses that are solutions looking for problems, and they usually falter.
We both come from a services background, so may be a little biased here. But even pure consumer offers are better

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