"Bite!": Your story needs it (to get the money)

"It doesn't have 'bite' " said the VC partner.

The founder and core team sat in silence. They had come to try out their presentation of the startup's business plan as part of preparing to raise a large B round. Their startup is doing amazing things and has multi-billion dollar potential. But less than a minute into the trial presentation the VC's exclamation leaped out at them.

The discussion that followed turned into a workshop with everyone innovating and making suggestions. The result was a much more compelling story, from the first to the last slide. It took a lot of hard work and experience to get to a successful conclusion. But at the end of the morning, the story had "bite."

I believe your story will not get the money unless it has bite. Nor will it attract great employees. Nor will it get bloggers or end users excited. You have to have it. It's a sign that you have an unfair competitive advantage.

So what is "bite?" These are what I think it is about:

• Bold. Your claim to fame must be bold. Shocking is overdoing it.  Boring is death.
• Story. It must be a story. Stories are attractive. They are interesting. They stir emotions. They have beginnings and plot and intrigue, and a happy ending for the heroes.
• Emotion. You must stir emotions with your story. Use facts but more than facts. Use facts to trigger emotions.
• Poignant. Your idea needs to treat a significant pain. A pain being suffered by the end user. That is what is meant by a compelling value proposition. The listener must feel the pain and respond poignantly.
• Grabs. Your story has to grab the attention of the listener. Like a hand that reaches out and pulls the listener into the room. Swiftly and powerfully.
• Believable. It has to be believable. That is where you win or lose. Realistic carries the day. Able to do an amazing thing. Wow!

BOTTOM LINE: Test your idea. How much bite does it have? Is it a bold story that triggers emotions, stimulates a poignant response as it grabs the listener who at the end of the tale believes you can do it? When you have that, you are ready to tell your story. Then you'll have built a powerful element of your unfair advantage.