The Elevator Pitch

September 5, 2013

 

Ever been hit with a “What is it you do?” moment while sitting in a departure lounge, at a chance meeting or even in an elevator?

Knowing you have ½ a dozen floors to describe your business model can be overwhelming and leave you mumbling out a stream of nonsense that in no way describes your business.

DING! Business opportunity bungled!

Whether it’s raising capital for a fledgling business, promoting a new product/service or letting a potential client know about you, the power of the elevator pitch can’t be underestimated.

The elevator pitch should be delivered in a short space of time, roughly sixty seconds. The goal is to infuse enough interest and value to continue the conversation outside of the elevator (metaphorically if not literally).

So, how to write the elevator pitch?

  1. Consider these four questions:
    1. What is the product/service?
    2. What is your target market and who are your clients?
    3. What are the benefits of your product? Benefits- not features
    4. What competitive advantage does your business offer?

Write out the answers and then start paring it down to around 200 words.

  1. Develop a hook, designed to pique the interest of your audience. If they are not hooked then they are not listening.
  2. Remember to include a description of your target market and how you do it better than your competitors.
  3. End your pitch with a request. Exchange business cards, schedule a meeting or presentation or ask for a referral.

Always have passion and dedication when giving your pitch. It will translate into your audience being excited. The last thing you need to do is practice, practice, practice. You need to have it memorized so when opportunity knocks you do not miss it.

Elevator Pitch