Talk the Talk
Talk the Talk
Part of getting ahead in the entrepreneurial space is speaking the language.
November 28, 2017
July 17, 1975 is a red letter day in science. On this date Soviet and American mission commanders of the Apollo-Soyuz Test Project accomplished the first joint space docking and exchanged the first international handshake in space. The world watched, on television, in awe.
“We have capture,” the Apollo commander, Brig. Gen. Thomas P. Stafford of the Air Force, radioed in
to the Soyuz commander, Col. Aleksei A. Leonov. “Well done, Tom, it was a good show,” Colonel Leonov responded in
Peering through the opened hatches into the Apollo's connecting module, Colonel Leonov welcomed General Stafford, “Glad to see you.” General Stafford responded,
“A, zdravstvuite, ochen rad vas videt.”
(“Ah, hello, very glad to see you.”)
Among the myriad details that were required to make this historic linkage, astronauts and cosmonauts from both countries had to learn not only multiple procedures but each other’s language as well. The two crews, when speaking to each other, used the
colloquial expression. Because of Stafford’s pronounced drawl when speaking Russian, Leonov later joked that there were three languages spoken on the mission: Russian, English, and “Oklahomski.- But they were understood!
These things don’t happen by accident. They are well planned. The Soyuz anecdote is an outstanding example of effective communication—“
I can understand you very well even if you speak my language poorly.”
It is ineffective to speak in French when your audience is listening in Chinese.
This truism applies just as much in different disciplines. Medical students spend the first two years primarily learning the language of medicine. They have to prove their proficiency through licensing exams before they can move ahead in becoming a doctor.
Early stage entrepreneurs slip into and go overboard with the lexicon of their own specific expertise. It is a flawed approach when connecting with other team members, investors, customers, etc. By design they are from different disciplines and immersing in a common vocabulary should be a priority.
Learning a new vernacular is not easy for everyone. Fortunately, the Pareto principle works here. A 20 percent effort in acquiring new words could ultimately give you 80 percent command in that field. For instance, in English just 300 words make up 65 percent of all written material. Moreover, linguistic experts tell us that if we pick up just 50 words it is a credible start.
Many of the terms come from simply being exposed to business. It introduces several formal terms like
Discounted Cash Flow
, etc. However, if you truly want to become part of the tribe, you also have to learn the street talk.
“I am sorry I made a mistake”
just does not have the same ring to it as
The vernacular separates the natives from the recent immigrants.
Slangs are often distortions of existing words or entirely invented terms. They are not found in the dictionary and aren’t taught in the classroom. In a profession slangs are called “jargon.” Either way, it is a private language that gets you inside the club. If you know the popular terms you appear cool or hip and are recognized as a member of the in-group. Otherwise you are forever relegated to the outsiders.
The word “
in the dictionary would have a completely different meaning than a
3 Comma Clu
—a startup company valued at over $1 billion. Today that would be considered nothing compared to the
800 Pound Gorilla
it into small component ideas to understand the
You must have
skin in the game
is nothing to play with, it denotes non-linear growth. And a
is not Wayne Gretzky, it is the minimum viable product, with just enough features to satisfy early customers. Initially, the
may offer it gratis as a
. If the
the percentage of subscribers who discontinue their service, is too high, you may have to
Are you sure that you are a Business to Business (
) or a
or maybe a
Financing adds more jargon. Keep your
, the money spent over and above income, low. Get a
in sales to get the
up or you are heading for the
and may need to be
is not for your arrest but a
to buy the underlying
If you don’t fully understand the terminology you are bound to be taken advantage of. In a trip to Pisa, Italy I was sold Insurance against the risk of the Leaning tower falling down on my car. I thought I was paying a parking fee. What is presented as
standard terms in a
may haunt you later, when the true impact becomes clear. Care must be taken for
provisions especially if they are
Getting in trouble? Cultivate a
to make the first bid, in case you get a nasty
exploding term sheet
, with a short expiration date. If you accept the offer,
holder may wipe out your majority holding. The previous investors may have a
right of first refusa
to take up the
offer and be certain to avoid any
It is important for entrepreneurs, especially technical ones, to become conversant with the nuances of the subculture and become proficient in the chatty lingo of a startup. If you do so, in addition to your
you will impress the
not only in Anaheim but in your own hometown
Dr. Rajiv Tandon is Founder and Executive Director of The Institute for Innovators and Entrepreneurs and an advocate for the future of entrepreneurship in Minnesota. He can be reached at
New York Times archives and other reports regarding Apollo Soyuz Test project
This rule says that about 20% of the causes make 80% of the effects. For language learning, 20% of the effort you use learning new vocabulary could give you 80% understanding in the language. For example, in English, only 300 words make 65% of all written material, like newspapers, books, and this blog post!
German translator Judith Matz suggests:
“Pick up 50 words of a language and start using them on people — and then slowly start picking up grammar."
Other Common vocabulary in a startup:
Income Replacement (Lifestyle) business
Types 501 c3, B, S, C, LLC, L3C
Rep(resentations) & Warranties
Rights, Pre-emptive (of First Refusal)
Convertible Note (Debt)
Participating Preferred Stock
Blue Sky Laws
Tools and Systems
Stock vs. Membership Units
Buy Back Clause
Board of Directors
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