You only have 30-60 seconds to make a powerful first impression, because people have less patience today and most are so busy. You need to grab their attentions quickly or lose them forever.
Elevator Pitch Topics: What is? Why? Mastering, initial Preparation, Creating & Delivering – 7 Steps, Examples.
What is an Elevator Pitch? A concise, well-practiced talk of your startup idea (product or service) and (if you have time) your plan of bringing it to the public. You must deliver it with confidence & passion, so that your receiver can understand the value and your conviction about this idea. The challenge is to deliver it in the time it would take to ride up a few floors of an elevator. Most entrepreneurs know about these, but few Founders seem to deliver a good one. Read on and we’ll help give a good one.
Why is it Important? A good Elevator Pitch is not just for a short summary of your idea for the elevator. Use it in every networking situation & business conference introduction. In essence, the Elevator Pitch should be the intro to the Executive Summary of your Business Plan, your Investor presentation, and on the first page of your Web site. A different message in each location is not consistant message.
Mastering an Elevator Pitch for why someone should join your company or invest in your business. It is useful to clarify the problem and how you are solving it. You will also present how you and your Team can bring it to market. At a later stage you can demo your product or service, to show it’s Value Proposition. They now have a permanent, visual reminder in their memory to show how you deliver on your premise.
How do you first prepare to give a great Elevator Pitch? Pitching an idea isn’t a skill you can perfect on your own. For one thing, you must get comfortable with having an audience. That’s why a Partner, group effort like an Team or Incubator is so valuable. It provides the opportunity to gain confidence up in front of friends you feel comfortable with, work out any rough edge, & generally become an effective means for communicating your idea.
Beyond the short Elevator Pitch. The expansion consists of constructing a compact description of the opportunity & market. The goal is to be specifically memorable. Since partnerships, hiring & investors are rarely an simple decision, the usual best outcome for a pitch is for it to be easily understood and motivate the listener to action.
Step by Step process for creating an Elevator Pitch. Can you eloquently explain that to a stranger in few minutes what your idea is about and who you are. Use these 5 steps to perfect your Elevator Pitch.
- Introduce Yourself. Start the Elevator Pitch with a brief, easy-to-absorb sentence that includes your Name, your Company name then product or service you provide.
- Identify the Problem you “solve” for your Customers. What is the problem the potential client may have, that your product/service can solve? What’s in it for the listener has to resonate. Why should the person care what you do? Focus on the listener and the value of your product/ service for them.
- Announce the “promise” of a Solution. What product or service will you provide the Customer? “Be clear on the results the person can expect – the benefits advantages you offer.
- Offer “proof “you can deliver what you Promise. How have you delivered on your promises prior to this? What have you accomplished, and what have people said about your work? “Offer proof with one or two examples—including an anecdote that summarizes everything you just said as real.
- Plan for next steps Finish your pitch by offering a Plan of Action for delivering on your promise. Make it as personal as possible, to fit whom-ever you’re talking to and his/her business.
- Know when to Stop & Listen. If at any point in your pitch you find that the listener is tuning out, stop talking. Ask them if they understand what you’re talking about. If not, explain in a different way and/or go into more detail. Once you’ve brought them up to speed, you can continue.
- Practice makes Perfect. Do your Pitch in front of your Mentor, Advisor, Team and who-ever else will listen. That way you’ll clarify it and develop a confidence for giving it.
Summary: Once you have your Elevator Pitch ready to go, it will be like being ready for the beginning day of the rest of your life. The more know & un-know people you present it to, the greater the probability of finding just the right person that can help you. So enjoy the process and the rewards to come.
Comments: Is there any other relevant factors for the Elevator Pitch?
Examples of Elevator Pitches
My co-founders and I founded Grasshopper & Engine Yard, in which Amazon, Benchmark, & NEA invested. Our new company, Chargify, is a simple recurring billing management tool. We’re looking for Angel Capital to fill in some gaps. Maybe you’re interested in such an investment?” This pitch, sent to Shark Tank’s Mark Cuban, ended up in an Investment.
“NowMoveMe is a neighbourhood discovery platform, allowing users to find real estate based on their personality – not just zip code & price range.” This pitch got them a meeting with Zillow CEO & Investment.
“Zebecs is creating a movement to connect families, celebrate children & change companies by breaking the rules; teaching children to “love to learn” and adults to recognize what is right about them.” This pitch resulted in TV (ABC & FOX) appearances as well as a recent national network show appearance on the CW.
“I enjoy finding simple solutions to complex scientific problems. Founder & CEO at uBeam – which converts ultra-sound waves into electricity to power devices. It’s like WiFi for energy.” —Meredith Perry, CEO
“I am a video storyteller, community builder & global adventurer. I skip the small talk and delve into the lives of strangers. I am the founder of BiG Talk.” —Kalina Silverman
Connector: “Addicted to content and finding ways for brands to become a part of the conversation instead of interrupting it.” —Kyle Duckitt, CEO
“I sold my first piece of software at age 11, and now I work with food data and the intersection of tech as the CEO of SimmerWP.com.” —Lara Littlefield
“I’m the Co-Founder & CEO of Yoobi, the Co-Founder & ‘Chief Carrot Lover (CCL) of San Francisco-based Yes To Inc. Each of my businesses is built on three pillars: 1) incredible people, 2) kick ass product & awesome mission.” —Ido Leffler
from Startup Runner.com 2//22/17 enhanced by Peter/CXO Wiz4.biz Blog
Peter has been business >40 yrs, helped >30 companies to write their Executive Summaries & advised 50 additional companies – how to improve their processes – thru his 5 Star Startup Services