Entrepreneurs live a life as if around every corner lurks a new great opportunity. When the elevator opens and a potential investor asks the question: “so what do you do?” You only have 45-60 seconds to answer, and you'd better be sure to have a honed elevator pitch ready, and make those precious seconds count.
What is an elevator pitch?
An elevator pitch is a short speech designed to capture the attention of a potential client. It describes who you are, your business, and why it’s special. It’s one of the most valuable tools in your marketing toolbox.
Here are seven proven tips to creating a successful elevator pitch:
1. Use their language
Skip industry jargon and technical terminologies. Use the language of your audience. Keep it simple and talk in the simplest language possible. Using figures or memorable phrases can be useful, but don’t overwhelm your audience with statistical data and buzzwords.
2. Start with a hook
Hook your audience from the get-go to peak their curiosity. The first 15 seconds are crucial, so focus on putting together your best pieces here that would convince a prospective investor to listen to the next 45 seconds of your pitch.
3. Turn your pitch into a question
Engage your audience by asking a question. You can use the following formula: Do you know how many business owners ________ (put in the blank a major problem that the prospect is likely facing)? Well, what I do is ______ (offer the solution).
4. Stop talking
Once you’ve delivered the killer pitch, time to keep your mouth shut. Give her time to digest and contemplate your pitch. Listen to her reactions and offer more details if she asks. Again, keep it brief.
5. Keep your goal in mind
Remember what you’re trying to accomplish. The pitch is created to snag the attention of an ideal investor and establish a relationship. Once you accomplish that, you can make a follow up later.
6. Perfect your pitch
Practice makes perfect. Face the mirror and say your pitch out loud. You can record your pitch on a video or ask a professional colleague to listen to your speech. Rehearse your pitch whenever and wherever you find the opportunity until it becomes natural to you.
7. End with a call to action
At the end of the conversation, what is it you want the prospect to do next? Again, keep it stupid simple (KISS). You can ask her to visit your website to get more details about your organization. Or if you want her to buy your ebook, tell her that you’ll be sending her the link through email. Be informative and avoid sounding sales-y.
Do you have other excellent tips to add when it comes to creating an effective elevator pitch? Don’t hesitate to add them in the comments below?