Michael Port seems to think so. He believes it’s all about the conversation. Showing your passion with a back and a forth. But I have heard so, so many people totally fail at answering the question “so what does your company do?” in a way that’s brief and coherent, I still think it’s critically important to have that simple, reliable statement.

If you, or anyone in your company, can’t communicate your value proposition instantly, quickly, and correctly, you’re in trouble.

OTOH, Michael’s list of what you should be able to answer is good:

1. Who you serve (your target market)
2. What they need and desire (problems they have and things they want)
3. What solutions you offer (products and services)
4. The big, bad result they get from your products and services (the money shot)
5. The deep-rooted core benefits they get from that result (financial, emotional, physical or spiritual ROI)

Thanks, Michael. That list I like. But I’m still going to try to stick with an elevator statement at the beginning. It’s a good forcing discipline.