The “AHA” Moment
31st August 2011 · 0 Comments
This past week brought a number of occasions to pitch or be pitched or to read others’ critiques of various concepts. One particular meeting was very cordial, a warm introduction leading to a very detailed discussion, but at the end as I reviewed the session with my compatriot he said we never got to the “aha” moment in the conversation. Yes there were plenty of really good suggestions, some very pointed criticisms, and some valuable insights, but it was obvious there would be no next step in that case. Some might describe this meeting more colorfully as “they threw up all over the idea.”
Fortunately in that case we were working from the entrepreneur’s mockups, and it was one of a series of meetings with similar types of companies (not investor candidates). We took to heart the suggestions, not all of which were consistent with other advice. Prior to the next day’s similar outing with a different audience we were able to make a major iteration and did actually get the resounding “AHA” that we were seeking. It was much better to have gotten knocked down before having committed any development dollars than to have been further down the track with little room to maneuver. And, I give the team on this venture due credit for responding creatively to criticism The rest of the week in that case just continued on an upward trajectory.
Similarly I was at the 1SS Friday “speed dating” session where students where forming into compatible teams, and mentors like myself were trying to find teams where we have the most relevant experience to offer. This was a pretty crowded, noisy, fast moving event in a classroom. I’m not sure I got to all the tables, but there were some aha moments for me. One student is a biomed major working with a professor on a novel advancement in the creation and distribution of isotopes. Having just read an article in the WSJ about GE’s newly disclosed laser excitation facility for that very purpose, I actually got the idea immediately. Reading one article doesn’t qualify me to help that team, but on first hearing it certainly came across as an outstanding idea in a newsworthy area. Maybe the iPad12 will be nuclear powered if this venture succeeds.
On the other hand, another team I met is intending to produce a game. Not being a gamer myself, I just didn’t see the potential. For all I know this may be the $1B+ idea in the room, but it’s one that’s just not easy to describe in a sentence or two, particularly to someone like me who has no good frame of reference.
I don’t yet know for sure which teams will end up on my list. I look forward to the second speed dating session Monday followed by the weekly classes to follow. And, likely I’ll learn more than I teach.
I realize that not all the great ideas can or should be explained in a way that results in the immediate aha. Some are worthy but are complicated and may require some description of the target industry or the component technologies to give a generalist enough basic perspective to grasp the idea. But, I think the takeaway from the past few days in my Austin travels is that somewhere in the process of introducing the concept, the initial pitch needs to build to a climactic moment where the listener can’t help but say that prized “AHA”!
<image from Silence of the Lambs>
