Making It Real

Here is the link to my entrepreneurship resume!

My Exit Strategy

Developing my venture concept of the Water Harvest has been rewarding in unique and unexpected ways.  For my exit strategy from this venture, I would like to see this business flourish and to leave a positive impact on everyone involved.  After five years or so, I would like to sell the business to one of my larger competitors.  I would hope that at least some aspects of the improvements and innovations of my product would be adopted in their business practice. 

In developing a business plan for the Water Harvest, I noticed that the initial cost incurred by the consumer may be quite substantial.  There are ways to minimize the retail price of the Water Harvest, including using recycled materials for assembly.  One excellent suggestion that I received in my feedback, is that I should market this product to municipalities rather than the individual homeowner because this sector can more easily absorb the costs.  Another barrier to the growth of the business is the manufacturing cost of the Water Harvest.  Reducing the overall expense of the Water Harvest will remain a significant challenge to overcome.

I believe that my exit strategy has influenced decisions that I have made regarding my project.  I feel that I have always known that this venture concept would not be a lifelong commitment for me.  What I found to be an interesting result of this perspective is that it allowed me to be completely objective and unattached to this idea.  In other words, I could more effectively consider the strengths and weaknesses of this idea without taking it personally.  Not only did it become easier for me to accept both the positive and the negative aspects of this idea, but I also found myself being more open and broad-based in my approach towards developing this venture concept.

Celebrating Failure

A moment that I wanted to give up was when I was trying to select a venture concept.  I actually had come up with a really good idea.  I had imagined a portable, solar powered, rechargeable, light source.  I thought this idea would be revolutionary because it could bring light to people who have no access to electricity. 

I thought this idea was practical, innovative and above all, it would help numerous people around the world.  I had already considered its design when after doing some research, I discovered that this idea had already been created, patent pending, and it was recently placed on the market.  When I realized this, I was devastated because it was an idea that I had been seriously considering for some time.

It was difficult to accept that this idea was no longer a possibility.  However, I took some comfort in knowing that the idea itself was actually good enough for someone else to think of it and it had enough potential for someone to run with it.  This caused me to become more open to alternative concepts and to consider their potential.  I also realized that although similar ideas may coexist, the objective is to make any endeavor stand out in its own unique or improved way.  

Failure is extremely difficult because it can lead to self-doubt.  Once I began examining this concept I realized that we all have a tendency to be hard on ourselves.  Our self-worth seems to be somehow connected to our accomplishments and even more so to what we fail to accomplish.  I think that the most important thing to remember is that what we do is not who we are.  What we do is simply a choice.  The great thing about that is that if we don’t like the choice we made, then all we have to do is to choose again.  After all, the greatest way to learn is to experiment with experience.

This class has not only taught me that it is alright to fail, but that it is even advantageous.  Each failure is an opportunity to see what works and what needs to change.  The experience alone can be inspiring and lead to a new idea or process that simply never would have occurred had it not been for that failure.  I have also noticed that while failure may bring on a sense of loss, the knowledge and experience gained are extremely useful in facilitating the next attempt.

Venture Concept No.1

Water is a rare and priceless commodity.  People are searching for a way to maximize their water usage in an efficient way, which conserves water while minimizing costs.  It would be useful to have a system that would provide additional free water, without a negative impact to the environment.  This need has always existed because mankind has always needed to find the most effective way to manage the limited resource of water, making this opportunity boundless.  In order to meet this need, people make an effort to restrict their water use.  When that is not possible, people simply opt to pay more for their water to meet their needs.  This opportunity is big enough to have a lasting and positive global effect. 

Any individual, home, or business could benefit from having an external reservoir of renewable, pressurized water to use at their disposal.  Anyone with a lawn, a pool, or a garden would find this product indispensable.  There are numerous practical applications for this product.  For example, a farmer could use a larger version of this tank to help with irrigation and livestock needs.  Businesses such as car washes and auto rental agencies use large amounts of water for maintenance and business operations.  This product would prove to be a valuable asset in reducing service and production costs.

My innovation is called Water Harvest.  This is a water storage system that efficiently utilizes runoff water to create a reservoir of filtered, pressurized water.  I would like to develop a water storage tank that could be installed on the side of a home and attached to the downspout drain of the gutter system.  During a rainstorm, as the water is channeled through the gutter system, it would be collected into the tank and stored for later use.  The internal pressurized pump would allow the homeowner to use pressurized water for numerous projects such as watering the lawn, filling a pool, or washing a car.  Additionally, I would also offer a product line of biodegradable soaps, organic fertilizers, and chemical free pesticides that would significantly reduce harmful runoff that is destructive to the environment.

The Water Harvest system will include the following:

• 120 gallon storage tank
• Pressure pump
• External mounting hardware kit
• Valves and fitting
• Filters
• Tank cleaning kit
• Projected retail price: $425.00

 Upgrades and additions:

• Onsite assistance with installation
• Variety of sizes available: Standard, large, and industrial
• Ship, repair, and return
• Warranty: Service and parts
• Underground tank options
• Tank additives: Biodegradable soaps, insecticides, and organic fertilizers
• Customized  tank enclosures
• granite display
• wood display

Admittedly, there are similar products in the marketplace, which classifies my product as an incremental innovation.  However, I believe that customers would switch to the Water Harvest because water use can now be regulated and pressurized.  This would create a wide range of practical applications for the user.  It will be difficult for new customers to switch because there would be a substantial initial investment incurred by the customer.  Another concern is that there is a lack of information available because it is a new product.  Rather than simply placing my product on the shelf of a retail store, I would find unique ways of relaying my product to potential customers.  The most difficult market to penetrate will be home improvement stores where the solution would be to offer free educational seminars.  I would also promote to homeowner associations that already manage resources for their community.  This would allow me to sell in large quantities in a single transaction.  By finding different ways to reach potential customers, my product will have a greater chance for success.

According to my research, the top three competitors include Tank Depot, Dultmeier Valve Company, and Norwesco.  The toughest competitor is Norwesco, which is the world’s largest manufacturer of water storage tanks.  Their main weakness is that their product is standardized with limited options which require purchasing parts from other vendors.  They focus on the industrial and commercial market while neglecting the needs of a typical private homeowner.  There seems to be little brand awareness which is indicative of minimal marketing.

The largest expenses will be packaging, shipping and assembly and my biggest challenge will be to reduce those costs.  I believe in using the highest quality products and materials to ensure a positive customer experience when the Water Harvest is used.  I plan on implementing the notion that the customer is always right.  Any concern or issue will be treated as an unmet need and I will make every effort to meet it.  The business location is irrelevant to the product’s success because the focus will be on shipping and distribution.  One priority for manufacturing will be finding locations that offer tax incentives to reduce startup costs. I anticipate that the product will qualify for a government funded rebate of up to 33%.  According to the U.S. Department of Energy, rebates for solar panels and solar water heaters fall within this range.  Since this product aims for water conservation, I plan to secure an incentive package for this product.

I will focus my organization based on rewarding productivity.  It is my goal for my employees to be paid among the highest in the industry.  I plan to reward hard work, effort, and accomplishment whenever possible.  I also believe an eight hour work day is antiquated.  I prefer to implement the concept of working until the job is completed independent of set schedules.  Finally, I plan to base work relationships on respect and to change the workplace into a joy place.  

My most important resource is communication. A successful venture is centered on the idea that the message about a product and its benefits is received clearly and understood by potential customers.  Additionally, for a consumer to fully understand the cost effectiveness of harvested water, communication is needed.  The next step for the venture is to design an internal reverse osmosis water purifier. Installing a quality filtration system will certainly add to the cost of the tank, but the prospect of having an easy source of clean, purified water will help to drive the sales of the Water Harvest.  Finally, the next thing for me is to develop other businesses that are related to conservation.  I hope to be running a family of successful companies, bringing prosperity to many while improving the quality of our environment.

Elevator Pitch No.3

https://www.youtube.com/watch?v=9YsJXOreidM&feature=youtu.be

I received extremely helpful feedback on my Elevator Pitch No.2 speech.  Originally when I first taped myself, I noticed that I was swaying back and forth a great deal and I gestured in a way that seemed exaggerated to me.  For the second video that I submitted, I believe that I over compensated.  I made a concerted effort to be as still as I could be and leave my arms down.  It was no surprise that I received comments suggesting ways that I could look more natural and therefore convey my message effectively.  I would also add that the comments were not only constructive but very kind and encouraging. 

I also knew that if I added more pertinent information that I would have to sacrifice certain aspects of my original speech.  For my Elevator Pitch No.3, I decided to add some striking points that make my concept stand out from competitors.  This made me take a closer look at any information in my speech that was not critical to my message.  I added three new points and omitted a few lines that were not providing necessary information.  This quickly became another lesson in purposeful and useful communication.

Based on the feedback, I increased my energy and I moved in a more natural way as I spoke.  I also slowed down though constantly aware of the time limit. I modified my speech to focus on elements of my idea that make my product stand out and therefore created a more complete message all around. 

Amazon Whisperer

There are six principal revenue drivers for the rainwater tank concept:

1. Rainwater storage tanks in a range of sizes to accommodate small homes up to large scale agricultural and industrial applications.
2. Installation to include the choice of above or below ground, on-site assistance, and telephone support.
3. Services such as on-site service calls, telephone support, repair and returns, and replacement parts
4. Filters and purifiers
5. Additives including lawn fertilizer, organic peppermint oil based insecticide, biodegradable soap, tank cleanser and anti-mold compound
6. Tank attachments consisting of a motorized pump for pressurized applications, support brackets, and customized valves and fittings 

The “next” product offering will be to add the capability to purify collected rainwater making it safe, healthy and pleasant to drink.  Municipal water has an abundance of minerals and chemicals including high amounts of fluoride which is now found to be very unhealthy.  Purchasing bottled water from the store is costly and time consuming, and in-house treatment systems require high startup costs and frequent replacement of filters.  Installing a quality purifier such as a reverse osmosis system will certainly add to the cost of the tank, but the benefits of clean drinking water will easily exceed this cost.

Amazon.com offers a 6 stage pH Alkaline Mineral Reverse Osmosis Drinking Water System manufactured by LiquaGen Water company that yields 75 gallons per day.  It removes up to 99% of contaminants including arsenic, chlorine, lead, fluoride, heavy metals, bacteria, virus and over 1,000 others.

                             

Customer reviews for the purifier are very positive, the water taste is a consistent high point.  One customer had an issue with all the fittings being loose and had to fix a number of leaks, but was then very satisfied.

There would be a couple of initial changes made to this product.  First, the tank offered would not be required since one already exists.  Second, the output would be boosted from 75 gallons per day to match the tank’s capacity.  The prospect of having an easy source of clean, healthy drinking water will drive up sales of the rainwater tank collection systems, while contributing to a healthier environment.

My Unfair Advantage

1.      Communication skills: A successful venture is centered on the idea that the message about a product and its benefits is received clearly and understood by potential customers.  I believe that good communication is rare. It takes effort and verification to determine if the message relayed is in fact the message received. I also believe that communication is a two-way street. It is crucial for the producer of a product to receive feedback an opinions from end-users.  This provides opportunities for growth and evolution of the product.

2.      Quality oriented:  I believe that pressurized water storage tanks would be products that would be used for the long term.  I would like this product to work efficiently and meet or even surpass expectations every time it is used.  I would select the best quality of materials and design so that the experience of utilizing this product would be a pleasant one for the customer each and every time it is used.

3.      Bilingual: I am originally from Bogota, Colombia and I was raised in the United States.  My background has provided me a unique perspective of two diverse yet remarkable cultures.  I am fluent in English and Spanish.  I believe that the ability to communicate in Spanish may help with opening new markets and demographics that would otherwise be quite difficult to reach.

4.      Protecting the environment:  The benefits of having a pressurized water tank go beyond those realized by the customer.  Using ecologically friendly additives and natural pesticides have a true global impact.  This will reduce the amount of chemicals and fertilizers that runoff into the storm sewer systems and eventually into rivers, lakes and the oceans.  In Florida, Lake Okeechobee has been loaded for decades with excessive amounts of nitrogen and phosphorus such as fertilization runoff from farms and urbanization.  Such nutrients, along with other environmental factors (such as warmer temperatures), promote the growth of blue-green algae, also known as cyanobacteria.  This has caused the unprecedented amount of toxic algae blooms infesting miles of southern Florida's coastline.  Widespread use of environmentally friendly additives may help significantly to prevent future environmental damage such as this.

5.      Efficiency:  I continuously look for new ways to improve a process.  I am always interested in finding ways to increase efficiency while minimizing expense and effort.  I believe that efficiency is a crucial element needed for managing and maintaining a cost-effective and productive business venture.

6.      Personal relationships:  I would like to focus my efforts on developing a strong network of individuals that are like minded and are able to share their unique qualities and capabilities in support of this venture.  While I believe it is important to surround myself with knowledgeable people that are experienced in this field, I feel that it is equally important to find people that are supportive, encouraging, and reassuring, especially when the process becomes difficult.  For this reason, I believe that friends and family would be an invaluable asset in this endeavor.

7.     Cost Effective:  People are continuously searching for a way to maximize their water usage in an efficient and effective way, which conserves water while minimizing costs.  It would be useful to have a system that would provide additional free water, without negative impact to the environment. This would be beneficial to the consumer because it would minimize water consumption while reducing utility costs.

8.      Flexibility:  One of the most important attributes of any successful venture is the ability to adapt and change with the growing market.  Being receptive to the consumer by understanding what their unmet needs are and adapting your product to fulfill this need is critical for sustainability and longevity. 

9.      Reliability: I believe that reliability is instrumental in building customer loyalty.  Reliability occurs when there is consistency in the quality of standardized service a consumer receives. This creates a positive experience for the consumer which leads to confidence and trust in the provider.  This will motivate the consumer to want to do business more often with that provider.

10.  Rebates, tax credits and exemptions: The United States Department of Energy currently underwrites a number of programs to purchase solar heating systems.  For example, the state of Florida offers a sales tax exemption for all solar equipment; the Orlando Utilities Commission provides an instant $1,000 rebate for solar water heating systems.  The advantages that the water tank system offers regarding cost savings and protecting the environment make it a potential candidate for similar incentive programs. 

After compiling my list of resources, I believe that my top resource is communication.  I noticed that communication was a fundamental aspect needed in each of the other listed resources.  To create reliability, communication is needed.  To determine if a government grant is possible and how to apply for one, communication is needed.  Additionally, for a consumer to fully understand the cost effectiveness of harvested water, communication is needed.  After all, what is a good idea if it is not communicated? 

Reading Reflection No.2

Thinking, Fast and Slow, Daniel Kahneman

The author states in this book that we have two systems of thinking that are constantly active.  There are two systems of thought process.  System 1 represents the fast thinker that jumps to conclusions and makes quick decisions.  System 2 represents the process of slow thinking.  This system is the more powerful of the two, and is most often in charge.  It requires focus and it allows ideas to be constructed in a logical fashion.  Kahneman explains our thinking process, what we assume that we are thinking, and what we are thinking subconsciously.  By fully understanding the two part system of thinking, we are able to develop significant ways to improve our lives.

The most prevalent theme in Thinking, Fast and Slow is to identify the effort and energy expended in thinking, and how that impacts our behavioral patterns.  Kahneman states that more energy is exerted in System 2 thinking as more effort is required to simultaneously maintain several ideas or related tasks.   The System 1 thinking process does not manage this; instead its strength lies in discerning simple similarities and differences one issue at a time.  System 2 thinking can create a set of tasks that overrides System 1 responses, known as executive control.  Additionally, Kahneman explores concepts of the thought process that significantly affect our choices and decisions such as intuition, loss aversion, prospect theory, and the halo effect.  Experiments related to these concepts were performed and the information gathered may help entrepreneurs plan and target product and service development activities, and guide marketing efforts to the public.

The book has directly connected with what I am learning in ENT 3003 in a number of ways.  I have noticed that I actually experience both thinking processes mentioned in the book.  I engage in System 1 thinking when taking the extra credit quizzes for this class.  By having to answer five questions in three minutes from the lecture material, only the fast aspect or System 1 can be used.  The time constraint on the quizzes motivates one to quickly select an answer.  There is simply not enough time to allocate the energy and the time needed to methodically arrive at a reasonable solution. 

System 1 was prevalent while conducting the interview exercises, because it is just not possible to stop in the middle of a recorded interview to consider how to respond to comments being made, or to contemplate what to ask next, or when to end the session.  Additionally, I have found that System 2 is crucial to the development of the venture concept and with delving into personal reflections, where ideas are carefully crafted and presented in ways that clearly convey concepts in a comprehensive way.

One exercise that I would develop for class would be to test the concept of the “anchoring effect” that is prevalent in marketing our products and services.  This is a cognitive bias that makes one rely heavily on the first piece of information received.  The exercise to develop for class would be to test the concept of the “anchoring effect” prevalent in marketing our products and services.  This is a “cognitive bias” that makes one rely heavily on the first piece of information received.  Students would be randomly assigned to read a flyer that contains 3 key pieces of information.  However, each student is exposed to a unique placement of that information.  Later, a survey can be conducted to determine which piece of information captured their attention the most.  By using a control group, we can compare the variations of message placement.

The biggest “aha” moment in the book came in the section about decision making where the average person makes over a hundred decisions per day, and even more for those who do it for a living.  It is astonishing to realize how frequently decisions are made, regardless of their complexity.  Entrepreneurs need to recognize this concept and focus on taking advantage of it to become successful in all of their missions.  

Growing My Social Capital

Jarrett Kimbrough is the Florida Sales Manager for Tank Depot in Pompano Beach.  The company is a low cost online retailer of plastic storage tanks that was founded in 1998 and has 8 offices in the southern region of the United States.   Jarrett is a market expert who also has a technical background in tank design and production, having previously worked for Norwesco which is a company that manufactures plastic storage tanks.  I located Jarrett through an internet search focusing on water tanks and called him directly.  He was very friendly and eager to hear my proposals, and referred me to two people in his network that are a domain expert and an important industry supplier.  He wishes me great luck on developing the ideas and to let him know first when it is time to line up distributors.  Also he encouraged me to stop in next time I am in Pompano Beach to get a hands on look at all their products that relate to water tanks.  I see Jarrett as a very important part of my network already since he is sharing contact information, seems to like the proposals, and wants to see great results.

Tom Smith is the president of Norwesco which is a principal manufacturer of plastic water storage tanks.  He has been with the company since it was founded in 1981 and manages all of the operations, qualifying him to fill the spot of domain expert.  Tom was referred by Jarrett from Tank Depot, and was reached by email and telephone follow up.  He expressed an interest in the pressurizing aspect of my proposal and sent a schematic diagram of their 120 gallon tank to assist with design ideas for custom valves.  At this point there is no return expectation other than to keep himself and Jarrett in the loop.  Tom will be of great help since he is already willing to provide details to help develop the proposals.

Kent Dickeson is the manager of the Iowa division of Dultmeier, a B2B supplier of valves and fittings for a broad spectrum of industries.  He represents an important industry supplier, and was referred by both Jarrett from Tank Depot and Tom from Norwesco.  Kent was very helpful on the phone, and is willing to send supplier agreement contracts once manufacturing is ready to begin.  He wants to get new business once it is created, and promises the lowest pricing and fastest delivery of stock items.  This will be very helpful at a later stage because manufacturing chains have moved more to “Just-In-Time” (JIT) delivery systems for parts and supplies, and Dultmeier has adapted and gives consistent and superior service.   

I was quite surprised at the ability to reach these individuals on short notice and for the amount of information received in a few short calls and emails.  Often networking experiences result in a lot of dead ends before communication is made.  It is very encouraging to know that there are people out there like Jarrett who not only listened, took interest and gave referrals, certainly above and beyond his job description.  Both Tom and Kent were also very helpful and give a lot of hope to the development process. 

My Secret Sauce

5 ways in which my human capital is truly unique:

1. Curiosity:  I am very curious about the world around me.  I continuously find myself asking deep questions that I believe help me to understand the world around me in a way that is relevant and comprehensive.  This understanding allows me to develop meaningful relationships with all things in my life.  Many insights that I have gained over time have helped me to resolve many issues for myself and even others.

2. Communication skills: I think that the primary function of every human being is to either express or receive communication.  Our five senses are precisely for communicating information about the world to ourselves.  Communication is so important that I think that every issue or conflict can be resolved with clarity and understanding which is made possible by communication.  I immerse myself in reading, writing, talking and music; all of which are forms of communication.  I have even surprised myself by actually solving a problem from time to time simply by talking about it. 

3. I believe in a win-win situation.  I try to engage in situations where all parties gain from the experience.  In other words I don’t participate in anything at the expense of someone else.  I even find it a joyful challenge to figure out ways for everyone to gain from an experience.  It’s one of the most satisfying endeavors to engage in.

4. This may sound a little odd, but something that is unique about me is my concept of forgiveness.  Initially I thought that forgiveness meant that you quietly tolerated what happened and eventually forgot about it.  For me, forgiveness means that no harm can ever really be done and that each experience, especially the painful ones, are tremendous opportunities that generate compassion.  True forgiveness means understanding that since no harm can be done, there actually is nothing to forgive.  This has brought me the greatest freedom imaginable.

5. Persistence: I don’t think I shine in any one area so when I attempt to do something, it usually is extremely difficult for me.  Looking back at those tough experiences, the one thing I find is that I don’t give up.  It may take me three times as long to complete something compared to other people, and I may be the last one at the finish line, but I do make every effort to finish in the best way possible.  

Interviews with 5 people that know me best:

https://soundcloud.com/tmcarrizosa/interview-with-stuart-7-3-2016

https://soundcloud.com/tmcarrizosa/interview-with-eduardo

https://soundcloud.com/tmcarrizosa/sounds-from-sunday-evening

https://soundcloud.com/tmcarrizosa/sounds-from-wednesday

Reflection on the differences:

I was taken aback by how kind, generous and compassionate these interviews were.  I think this is the first time that homework and completing an assignment actually felt really good in every way.  I saw myself as a person who has drive and perseverance and focuses on developing communication skills on various levels.  Yet in speaking to the people that know me the best, they described me as being talented, intelligent, artistic, spiritual, good with animals, and compassionate.  What was remarkable about the interviews was how emphatically they expressed qualities and skills that I did not see in myself.  I consider myself quite shy, but one family member thinks that because I’m such a people person and can express myself well, that I could become a professional speech writer.  This was just one of many revelations that occurred in the process of making these interviews.  I think that if I were to make any corrections to my original list, I would make it more aspiring and ambitious to reflect the broad spectrum of commentaries made during the interviews.  

My Customer’s Avatar

My Customer Avatars are Jason and Emily.  They are married, in their mid-thirties, registered as Democrats, and just beginning their family.  They have one child and hope for another, and they definitely have two dogs.  Jason and Emily are outdoorsy people.  Jason has a boat that he likes to take out on the water from time to time.  It can be an expensive hobby but because he’s handy, he does a lot of the boat maintenance at home.  He also likes to work on his car, and his garage contains several ongoing projects.  Emily, on the other hand, has just started her very own herb garden.  She will also be growing her own tomatoes, and has a mango tree in the backyard.  She is really excited about how great those organic, natural tomatoes will taste once they are ripened. 

One of Jason and Emily’s favorite things to do is take their daughter and their two dogs to the beach to play.  But after a trip like that, the cleanup can be lengthy.  They have to wash the dog, rinse their feet, and clean all the toys and the beach chairs.  For situations such as this, Emily and Jason have a pressurized water collection tank.  They use their pressurized water to rinse off their belongings, wash the dogs, and give a quick rinse to the car once they are home from the beach.  Emily is happy to not bring the mess into the house and Jason is happy to save a little money by not having to use water from inside the home.  Emily makes sure to save some of the stored water for her garden which she will be tending to later that afternoon. 

Emily and Jason love going on road trips.  They are saving up to go to the Grand Canyon.  They like binge watching shows on Netflix such as “Lost” and “Breaking Bad.”  They also care a great deal about the environment.  Emily recycles her empty shampoo bottles and any other materials used in the household.  Jason remembers to turn off all lights and appliances when not in use.  Both of them really enjoy using the water from the tank because not only are they conserving water, but they are helping the environment as well.  

Elevator Pitch No.2

The Pitch:

https://youtu.be/5DgQXnRaAVI

Reflection on the feedback:

I feel that all of the feedback I got was extremely important.  I found that some people didn’t quite capture what made my idea stand out from existing water storage tanks available.  I feel that I should focus more on the pressurized water aspect.  Water collection may be considered typical, however my concept includes a water filtration system and pressurized water technology.  This would greatly broaden the practical applications and increase diversified usage of the stored water.   I should also focus more on the additives that I could offer including biodegradable soap, organic and natural pesticides for example.  I also could stress the aesthetic variety in both appearance and sizes that would be available.   

Changes based on the feedback:

I did not change much on the Elevator Pitch Number 2.  I found that by trying to include additional information I inevitably would exceed the time limit.  Including new details in the minute long elevator pitch would mean sacrificing significant, basic information that is necessary for the listener to understand the concept.