Table 14.7 “Parts of an Elevator Speech” adapts the five parts of a speech to the format of the elevator speech. What or who is the competition and what are your advantages?.What is the revenue model? (if applicable).Who is the target market? (if applicable).The emphasis is on brevity, but a good elevator speech will address several key questions: When you tailor your message to that audience, you zero in on your target and increase your effectiveness (Albertson, E., 2008). The speech can be generic and nonspecific to the audience or listener, but the more you know about your audience, the better. The idea is not to rattle off as much information as possible in a short time, nor to present a “canned” thirty-second advertising message, but rather to give a relaxed and genuine “nutshell” summary of one main idea.
#ELEVATOR SPEECH CENTRAL IDEA FULL#
An elevator speech is not a full sales pitch and should not get bloated with too much information. Be sure to portray the passion you have for the product / service and use the short period of time that you have with the listeners to grasp their attention and for the message to be clearly communicated.Īn introduction to Elevator Pitches – University of Brighton - beepurple 2007.An elevator speech does not have to be a formal event, though it can be. …we have developed… (MVP, key product features and USP)įinish off the elevator pitch with a requestĬonsider the above when preparing an elevator pitch to acquire funds, interest or development for your new business venture. Unlike… (competition or present alternatives), …or who want… (something new, different or novel) …who are dissatisfied with… (current industry alternatives)
Our product /service is for (target customers)
#ELEVATOR SPEECH CENTRAL IDEA HOW TO#
There is no specific structure that should be used during a pitch, although there is a few different examples of how to structure your elevator pitch: How should an elevator pitch be structured?Ĭreativity and structure can be combined in multiple ways for an elevator pitches to trigger curiosity and interest, depending on the needs of the one pitching. Customers and investors will appreciate seeing enthusiasm during a pitch about your business, which could in turn facilitate the opportunity for a request, be it a business card, second meeting, sale or funding. A hook can be used as a question or general statement in order to trigger curiosity, followed by a simple description, clearly communicating the passion for the business you might have. The main message of the elevator pitch should be structured in a strategic way to promote the listener to want to hear more. You can use the elevator pitch to promote the business or make a request to stakeholders in terms of funding or marketing. The influencer is typically an executive, leader or key stakeholder within your organization whose support of your improvement work would benefit the project. Typically, the person to whom you gain access is an influencer.
investor, customer or future stakeholder) what makes you – or your organization, product or idea – unique. The term elevator speech refers to gaining unanticipated access to someone to whom you would like to sell an idea or proposal. One aim is to inform the listener of the pitch (e.g. The overall aim of an elevator pitch can differ depending on the situation, project, industry and needs. What is the purpose of an elevator pitch ? It should convey one simple key message for the listener of the pitch to understand or remember from your business, whether it be an investor or a friend.
The importance of the elevator pitch at the start of a new companyĪn elevator pitch is a common term known in the entrepreneurial world, where by the American Word “Elevator” meaning a lift referring to the idea that you briefly meet people, sometimes important, when using a lift with a short time to conversate.Īn elevator pitch is a short statement or presentation about your business, typically anywhere from 60 seconds up to a few minutes again mirroring the use of a lift.
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