The whole business of startups is getting interesting—first we have YCombinator's back-to-front VC funding, and now there's news Richard Branson is accepting "micropitches" via Twitter for new startup ideas.
It's all part of a new startup conference dubbed PerfectBusiness that the billionaire entrepreneur is helping to get going, and it's pretty simple. All you have to do is Tweet your business idea to @PerfectBusiness and add the hashtag #micropitch... which means your business idea has to be compressed down to just 111 characters to fit into the available space of a Tweet. Winners will get two tickets to the conference, airfare to L.A. included, and business coaching to turn the Tweet into a meaningful, complete company plan. There's even the chance Branson and team will choose your idea and get some VC funding on board.
If explaining yourself in a Tweet sounds impossible, or restrictive then remember this: "Brevity is the soul of wit." That's Polonius, in Hamlet, and it means an intelligent way to express oneself is to speak fewer well-chosen words rather than blather on endlessly. Call me Alan Sugar, if you will, but in relation to Branson's Twitter plan, if you haven't thought out your plan in detail so you can digest it down to a brief explanation then you probably don't have a potential business. Or you don't have the right thinking to make it happen. As far as PerfectBusiness is concerned, forcing you to explain a business idea in 111 characters really could reveal the megastar ideas—and it saves them a whole lot of time in reading lengthy pitches.
On the other hand, if that kind of Tweet pressure is too hard for you, then you can submit a longer pitch to the Perfect Business team via its Web site, but it'll cost you $60, whereas Tweeting is free.