The elevator pitch or the elevator speech is a brief and powerful description of what your business does. It is important to investors and customers. If you wish to attract customers and investors to your business, you must be aware of drafting an elevator speech to obtain the desired results.
Create a compelling elevator pitch that works – Eric Dalius
Eric Dalius says that a good elevator pitch is short and powerful. However, remember, you just have about 60 seconds, maximum, to draft an elevator speech to grab the potential customer or investor’s attention. Now, the next obvious question that arises in your mind is how?
Make sure the elevator speech is rehearsed well
To create a positive impact with your elevator speech, you must ensure that you rehearse it well. You need to be prepared for any impromptu situations where you must present your business in under one minute.
Your speech is a brief statement to catch the interest of investors, customers, and all those who might be crucial to your business’s growth and development. In simple terms, you need to explain-
- What does your business do?
- Why does your business do it?
- The USP of the business
- Purpose of the elevator speech
Typically, all of the above takes around 30 seconds or even less
Not a sales pitch
Your elevator speech, however, is not a sales pitch. You should not list a recital of your organization’s capabilities. If you do not ditch the sales pitch, the same will sound like a laundry list of your company squeezed into 30 seconds. It will sound more or less like the disclaimers that are announced at the end of advertisers.
Your elevator speech’s goal is to present the business you own in just a way that grabs the interest and attention of the listener. A good elevator speech will compel the listener to know more about your company.
Components of a powerful elevator speech for investors and customers
Given below are the key components of a powerful elevator speech –
- Introduce your business
- What problems does your business solve?
- Why is the resolution of this problem important?
You need to identify ways to make your business unique. The first search for the market needs and ensure that your business can fill in the gaps for that need. Your business solutions should boost the quality of your existing product or service line with success. Elevator speeches must be planned well, and the choice of words should be good too.
Finally, note that generic statements will not win you, new investors, or customers. If your elevator speech is targeted at customers, your listeners will want to know how you differ from market competitors in the same business niche. They must understand the significance of this difference to switch from their current product/service provider to your company or embrace ways of doing things as per your business solutions.