If you’ve been following this series for the past few posts, by now you have written the first drafts of your elevator speech. Now is the time to refine your elevator pitch and then start your practice sessions. Now you’ll be ready to pitch your company and your ideas at every opportunity.
Writing an effective elevator pitch cannot be done all at once. You will need to refine it several times. It may take several drafts for you to perfect your elevator pitch. Have you described yourself or your company in just five words or less? Can you explain what you do in just one sentence? Can you define your target market in one sentence? Have you crafted your company’s vision so that it is concise and clear? Your elevator pitch is an introduction to your listener or your audience. You want to make sure that you are ready to tell your story, and be able to tell it in less than one minute.
Once your elevator pitch is written, it’s time to practice it. Record yourself giving your elevator pitch. Practice your pitch with friends so that you get comfortable pitching in front your target audience. Rehearse your pitch in front of a mirror so that you can see yourself as others will see you. Be prepared with the answers to any follow up questions.
As an entrepreneur, you need to constantly market your business and promote your ideas. Even if you are not in a direct selling role, selling the mission and goals of the company is a continuous process. You never know if you may meet an investor at a networking meeting, a possible business partner when you are out to dinner, or a potential client when you are in an elevator or lift. You will always have an opportunity to ‘pitch’ or make the case for your company, your product or service, or your idea.
So the important points to remember about elevator pitches:
- Entrepreneurs use elevator pitches to sell their ideas to venture capitalists or angel investors.
- An elevator pitch helps entrepreneurs to get financing, find business partners, and acquire clients.
- It takes time to develop an effective elevator pitch. You will have to refine your elevator pitch several times and practice it often.
- The most important parts of your elevator pitch include the benefits of your company, the problems your clients have faced, and the solutions your company can bring to the table.
- When using your elevator pitch to potential investors, you should ensure that you let them know their potential ROI.
- Your goal when presenting an elevator speech is to be asked to return, to have a relevant message, and to be remembered for the future.