Why every entrepreneur needs a power statement and how to make one that works

How many times have you had this conversation at a networking event?!?

Stranger: Hi, what do you do?
You: I’m an XYZ at ABC Corporation
S: Oh, so you (insert oversimplified, incorrect summary here)
Y: No, I’m an XYZ at ABC Corp.
S: That’s basically an (oversimplified, incorrect summary)
Y: (Deep Sigh) ☹ No, but ok

If you’re tired of this same conversation …then you need to create a Power Statement, TODAY!

As entrepreneurs you constantly have to tell people what you do, you may not have more than a minute to showcase your service and expertise. This is where a Power Statement — a well-crafted 15-30 second summary of you and your business — comes in to play.

So, what makes a great power statement?

A great power statement describes what you do, who you serve, and why you do it; essentially your power statement showcases your vision and value.

Now the big question:

How do you make a power statement that works?

Answering the question of what you do and who you serve should come easily. However, crafting your vision and value in a succinct way takes a bit more work. Here’s how to map out your vision and value:

Vision and Value — what is it?
Think of your vision as the resounding impact you want to make on the world and think of your value as the X-Factor that makes you uniquely qualified to bring that vision to life.

Vision and Value — how do you find it?
Here are the 3 questions you need to ask yourself to find your vision and value:
1. Why do I choose this work?
2. How do I do this work?
3. What do I bring to this work that no one else can?

What does a completed power statement look like?

Developing a high-impact Power Statement is an exercise in self-awareness and selling; it takes time to craft and is constantly evolving. It might have little tweaks based on your audience but follows a general formula —
“My name is _________, and I’m a (Title) at (Organization) who (value statement).
I help (your target audience) to (1st pain point you solve), (2nd pain point you solve) by (how you solve it).

Here’s an example of a completed Power Statement:
“My name is Alex, and I’m a Business Coach who believes in the power of people. I help entrepreneurs organize, prioritize, and strategize how to build and sustain a profitable business.”

The truth is someone may do WHAT you do, but they can’t do it the WAY you do – know your vision, know your value and make a power statement that wows the crowd every time!

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