how to craft a killer elevator pitch

How To Craft A Killer Elevator Pitch

When the opportunity presents itself to tell a potential stakeholder or investor about your business concept, you’ll only have a narrow

window of time – about the length of time it takes to ride an elevator– to pique their interest.

Why an elevator?

Surely that isn’t the only place you can catch the attention of a potential investor.

Of course not.

The term simply helps remind you that your pitch needs to be short and to the point.

The typical elevator ride lasts between 20 and 60 seconds. That’s Fast.But the modern attention span is actually much shorter than that.

It averages around 6 seconds.

Can you communicate what makes your business idea special and exciting in a sound bite?

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These are some essential things to keep in mind as you work to perfect your elevator pitch.

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PreparationDoing your research is a must. Understanding your industry, market and competition is key.

Many business owners neglect this crucial step for the sole reason that they don't want to hear any negative feedback.

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Know Your AudienceA great elevator pitch is

tailored to the audience. If you have target audiences

that are vastly different, you might want to have a unique

pitch for each.

The more you know about your audience’s background and specific needs, the easier it will be to build common ground.

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Create ExcitementInvestors expect energy and dedication from entrepreneurs.

Make your pitch concise and exciting, and make investors afraid they’ll miss out on a

major opportunity.

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Have A HookThis is the element that

literally snags your listener's interest and makes them

want to know more.

This is the phrase or words that strike a chord in your listener.

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Value PropositionGood elevator pitches will show the value and impact your product or services can have on the current market.

The more you know about your audience’s background and specific needs, the easier it will be to build common ground.

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Be AuthenticIt’s IMPORTANT to be credible.

Making outlandish statements about your business will eventually be discovered, and potential investors will lose faith in you.

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Communicate Team Qualifications

People invest in people first. In the best pitches, entrepreneurs sell

themselves as much as the product or service and are

well-prepared.

It is critical that your pitch include the unique qualifications and insights you and your team have and how they specifically relate to building a sustainable business.

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Show TractionInvestors invest in momentum.

Traction is your story of momentum. It's told through

quantified evidence of market demand for your product.

Pick the metrics that best tell the story of your momentum.

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A good story is essentially this:

Someone with a problem either finds a solution or faces tragedy. Either type of story can be used to illuminate what you do.

Tell A StoryA short story, that is.

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After delivering an exciting elevator pitch, you’ll most likely be asked to provide more information.

Know Your Business

You and your team should know and understand exactly what is behind the pitch as well.

Say Thank You!

Remember that Investors’ time is valuable and acknowledging this with

a simply thank goes a long way

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