An elevator pitch closes deals before they even get started. You want funding for your startup? Master your elevator pitch. You want to sell to a new client? Get you elevator pitch down… It’s the most crucial part of your presentation. If you don’t master it, a prospect will speed away quicker than KITT in Knight Rider.
So what is an elevator pitch? Wikipedia says:
“An elevator pitch (or elevator speech) is an overview of an idea for a product, service, or project. The name reflects the fact that an elevator pitch can be delivered in the time span of an elevator ride (say, thirty seconds or 100-150 words).”
To me, that’s pretty generous. If I can’t deliver it in one sentence I haven’t done my job. I don’t understand my product or my business. Nothing is so complicated that it takes more than 20 words. The key is to be illusive. You need to structure the sentence so it invites questions. No questions = no interest.
To start, sit down with a piece of paper. Write down what you are going to provide. Make sure you convey your value adders like time savings, sustainability, ease of use, software based… That is crucial.
For example, I am considering starting a ‘new media’ consulting firm. What’s my elevator pitch? “Axiium enables emerging and traditional business to harness the new power of the Internet through blogging, podcasting, screencasting, and collaboration tools.” That’s it. This leaves the other 25 seconds of the elevator ride for questions :0)
The key is to engage in a conversation about your business. You want to picque the other person’s interest. It isn’t terribly hard to do, but does require some effort.
Just remember - If you can’t tell someone what your business is in one sentence or less, you don’t truly understand the idea yourself. But keep working… It will come.