Many entrepreneurs find it awkward or difficult to promote themselves and their business, but you can become more comfortable by crafting and practicing an attention-grabbing elevator pitch. You’ve probably heard the term “elevator pitch” before. It won’t be relevant for every situation, but at the very least, it’s a great exercise to ensure you are able to condense your story and value proposition into a tightly constructed narrative that can be delivered in 30-60 seconds.The purpose of this lesson is to have you:
Hone a statement about an offer and its benefits.
This brief pitch is a great way to introduce yourself and your business when seeking funds. Or simply to describe how you respond when someone asks, “What do you do?” or, “Tell me about your business.” It should paint a vivid picture in the listener’s mind, showing how customers’ problems are solved or how they are served well. The important thing is to think through the way you want to talk about your key points to others when getting feedback.
– What Does an Elevator Pitch Contain?
Your elevator pitch should contain the following elements:
An attention-grabbing first line. Start your pitch with a statement or question that makes your listener want to hear more.
A description of your product or service and its market. Briefly describe what you sell and who will buy it, not the technology it’s based on. Explain how your product or service will solve a problem, meet a need, or exploit an opportunity.
Most people fail to explain how their product or service can make a difference in others’ lives. They just give their title: “I’m president of … ” They just tell their industry: “I’m in retail.” Or they just say their job category: “I’m a manufacturer’s rep.” Rather than saying, “I’m a web designer,” they should say, for example, “I use the power of the Internet to bring customers to my client’s door. My clients increase their online sales by 200 percent, on average, after I’ve done my work.”
A description of the people behind the business. Tell a little about your background and your team’s strengths.
The benefits of investing in your business. Why would the investor want to take a risk with you? What are the benefits? Communicate how you and your business stand out over the competition.
A call to action. Finish your pitch with a request. Do you want to set up a meeting? Have the investor look over your business plan? Have the listener recommend you to an angel investor or venture capitalist?
You. Show the uniqueness of your concept and your passion through the enthusiastic delivery of your elevator pitch.
Listen to the audio for a deeper explanation
- BE BRIEF. Your “Elevator Pitch” should be no more than 15 – 60 seconds. The rest of the time is for questions a prospect has for you and you have for a
- BE TO THE POINT. Creatively tell your prospect exactly what you do, what you are an “expert” in and what you can do to satisfy their needs or “alleviate their pain”.
Follow Up Steps
HAVE “POWER” QUESTIONS AND STATEMENTS READY by preparing them ahead and rehearsing them. Get the information you need
Use the Notes tool below to brainstorm ideas for your elevator pitch. You may want to create multiple versions, try them out, get feedback, and refine.
How will you respond when someone asks, “What do you do?” or, “Tell me about your business”? Answer: Your elevator pitch. This is a short, clear statement that explains what your business does and why it is unique.