Create your winning elevator pitch!
How to Craft a Perfect Elevator Pitch
Whether you want to perfect your business strategy or raise money from angel investors or venture capitalists, an elevator pitch is an essential tool in your marketing toolbox.
But what exactly is an elevator pitch and how to craft a perfect one? Here in this post, we will let you know all about it.
What is the Elevator Pitch?
An elevator pitch is a 30 seconds sales pitch that describes your business in a nutshell. The name is derived from the time taken to ride an elevator from the bottom to the top. Elevator pitches are persuasive speech that you can use to spark interest in what your organization does. It also helps create interest in an idea or product. So, the elevator pitch needs to be interesting, memorable, and succinct.
Now let us get into how to craft a perfect elevator pitch.
Keep it Simple
You have a limited time to make a good first impression. So, it is essential to keep your message professional and simple. Replace the complex concepts and jargon with simple terms that anyone can appreciate. A short and simple, elevator pitch communicates your message in a way that avoids confusion.
Know Your Audience
As well as you know your products and services, you should also understand the problems they solve and your audience’s pain points. The better you know your target audience and the problems they have, the more easily you will be able to create a perfect elevator pitch.
Communicate your USP
Your elevator pitch needs to communicate your unique selling proposition (USP). Identify what makes your company, your idea, your products or services unique, and then create a pitch that talks about your USP. This will help the investors know that you are different from others in your niche and that you deeply understand your products/services.
Describe the Solution
Many entrepreneurs start their elevator pitch by describing the solution straight away. They skip identifying the problem they are solving. As a smart entrepreneur, you can avoid this mistake by ensuring that you are solving a real problem that customers have. Once you are done with this, then explain your solution in just a few sentences or bullet points.
Share who is on Your Team
As great as your idea is, only the right team will effectively execute and build a great company. You should talk about why you and your business partners are the right teams to execute your vision. You should also talk about why your team’s skillset is needed to lead your company to success. No matter how great or unique your solution is, if you don’t have the right people on board, you won’t be able to see it to fruition.
Include Financial Summary
When creating an elevator pitch, you need to include the financial summary as well. You don’t have to show a detailed five-year financial forecast, but need to show who pays your bills and what kinds of expenses you will have. For instance, if you are starting an online news site, the customers that pay the bills are your advertisers. Your costs will be writers, graphic designers, and web hosting.
These are the steps you can follow to create a perfect elevator pitch. Once you are done with it, you need to put it together for a presentation.
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