An elevator pitch is a brief way of introducing yourself, communicating key points such as your background, experience, and objective, and connecting with the person. The term “elevator pitch” refers to the idea that it should be concise enough to be delivered during a quick elevator ride.
As a founder, a solid elevator pitch allows you to tell someone about yourself, your product, or your idea in 60 seconds in an intriguing, memorable, and succinct way. This brief speech, when done properly, could help you introduce yourself to professional and business connections in a compelling manner.
When presenting an elevator pitch, it is important to conclude with a question. The question might be as simple as asking for help, giving information, or staying connected. It’s sometimes helpful to explain why you attended this event.
Let’s take a look at how to create a presentable and perfect elevator pitch.
What to Include When Creating an Elevator Pitch
Before you start creating an elevator pitch, you need to carry out some research to gain a full understanding of what your products/services are, who your company is and what you have to offer.
- Problem: Structure your pitch around the problem you solve and who you solve it for. This will help you communicate who your ideal clients are, the issues they face that you can solve, and why they should do business with you.
- Solution: Once you’ve stated the problem, you can explain how you are working to solve it. Your solution must be clear and directly address the customer’s pain points. This will help the listener understand how you intend to address the challenges of your target market.
- Unique Selling Proposition (USP): Indicate that you have previously evaluated the competition and underline what sets your product, service, or qualification apart. Help the investor understand your resources and how they will provide a unique selling advantage to the target market.
- Hook: Make a distinctive statement at the conclusion to keep the attention of your listeners. You should conclude the conversation with a call to action (CTA), so the person you’re pitching to understands what you want and how they can get in touch with you.
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Here are five tips for perfecting your elevator pitch.
1. Be Clear and Concise.
When delivering an elevator pitch, stay as clear and unambiguous as possible to avoid diverting attention away from your pitch. Speak in a more conversational tone, and always assume your listener has no knowledge of the industry or anything linked to it.
Knowing what you stand for and why your audience should join you and your team can help energize your presentation and offer meaningful takeaways.
2. Communicate Your Value Proposition.
Your value proposition summarizes how you, your business, or your product differ from the competition. As you construct your value offer, keep your consumer, competitors, and strengths in mind.
Using these areas to explain your differentiators and how you are uniquely positioned to address challenges better than your competition will assist you in communicating your point clearly and quickly.
3. Practice Your Pitch and Become Confident.
The best way to become comfortable with an elevator speech is to practice it until the speed and tone flow smoothly without sounding monotonous, allowing your listener to feel your confidence. Practicing allows you to memorize the pitch and gain confidence with time.
Believing in yourself, your business, and what you provide is essential – it is what attracts people to you and gets them enthusiastic about what you have to offer.
4. Have an In-Depth Knowledge of Your Audience.
Consider who you want to attract, what they value most, and how your product or service aligns with these interests. Develop a list of the top three things you want your audience to remember about you and your company.
This will assist you in keeping your pitch concise and explaining why your target audience should select you.
5. Be Ready for Follow-Up Questions.
Nothing is worse than delivering an excellent elevator pitch only to become extremely uncomfortable when your listener decides to ask a few follow-up questions. Remember that an excellent elevator speech should pique the listener’s interest.
Prepare for questions or extra thoughts at the end of your elevator pitch. Consider giving them your contact information, such as a business card, so that you can continue the conversation later.
The best elevator pitch is just bringing the most important elements together in a concise manner so that people can understand what you do in a relatively short amount of time.
Remember, the aim of the elevator pitch is not to sell or seal the deal, so don’t put yourself under that type of pressure. It’s only to initiate a conversation, and if it achieves that consistently, you’ve done your job.
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