What is an Elevator Pitch?
An Elevator Pitch or Elevator Speech is a short description of an idea or product that explains the concept in a way that any listener can understand in a short period. The name—elevator pitch—reflects the idea that an elevator ride, or approximately 30-60 secs, is the length of time required to deliver your idea or product summary.
A good elevator pitch essentially lays the foundation to get people interested in your idea or product; simply conveying the overall concept or topic in an exciting way. They then may want to know more and might just contact you.
How to Create an Elevator Pitch
Know Your Goal:
What do you plan to accomplish with your elevator pitch? Do you want to find an investor, gain a new partner, or sell your ideas/products to a large company? Keep in mind, that not everyone will create the same type of elevator pitch since they may not have the same purpose.
Who You Are:
In the pitch briefly sum up who you are. Simply state your name and what you do. It’s important that the “what you do” section relates to what you are pitching in your Elevator Pitch for example; “Hi, my name is Mike and I’m a product developer and entrepreneur. I have a new and innovative product idea I’d like to share with you!”
Explain your Idea or Product:
In two to three sentences, state what your idea/product is, the problem it solves, and why it’s better than the ideas/products that are currently on the market. Whenever you’re going to networking events, meeting new people, or even cold emailing, you need to persuade people to choose you and your idea/product over others.
Provide a Solid Call-To-Action:
At the end of your elevator speech, you need a solid conclusion that pulls the audience in. Besides ending with a thought-provoking statement, you could also end with a question to get the audience thinking and questioning if what you’re saying is right for them.
It could also be a question that gets them to respond so you can begin a conversation with them. If they’re in a hurry, it’s a prime opportunity to exchange information, such as a business card.
Elevator Pitch Tips!
Tip #1 – Be Positive: It’s easy to come across negatively, even if that wasn’t your intention. To beat this, practice delivering your pitch in an upbeat and easygoing manner. When mentioning how your idea/product is different, explain it in a way that shines a light on your product and doesn’t trash the competition.
Tip #2 – Plan Ahead: Always create the elevator speech first before you start using it on people. You can then slim it down and make it more concise. Speak only about the most important points. Save everything else about your business for once the person takes an interest in learning more.
Tip #3 – Stay on Track: When you talk about your idea/product it can become effectless to just ramble on. This can pose quite a problem when you’re trying to summarize your business quickly and intrigue people.
Tip #4 – Be the Solution: Whether you’re at a professional networking event or sending an email, make your pitch all about being a solution for their problem.