19 Apr Give Your New Business a Lift – with a good Elevator Pitch
Every businessperson needs an elevator pitch, the description of your business in the time it takes to ride up a few floors, about 30 seconds. Can you do it? The moment you’re asked to describe what you do is not the time to start formulating your answer. Don’t wing it. A concise statement of your business vision and the unique value you deliver can not only satisfy the curiosity of a new business prospect or influencer, but motivate your fellow employees as well.
Ground Floor Tips. Here are some things to remember when preparing your message.
1st Floor – YOUR AUDIENCE:
Be sensitive to your audience. Make your statement relevant to the listener. Avoid jargon unless you know that your audience will understand what it means. For example: “We sell software to machine designers.”
2nd Floor – YOUR VALUE:
Establish the context for your story. At a high level, what do you do? “Our software products allow machine designers to improve the productivity of the machines they produce.”
3rd Floor – POSITIONING:
In your pitch, include all the elements of a good positioning statement:
a) Whom you serve (“Who needs what you do?”)
b) What value you deliver to them (e.g., What problem do you solve?)
c) How you’re unique in that regard (“Unlike <which competitor?>, we <do what?>”)
4th Floor – EXAMPLES:
Pick one interesting aspect of the value you deliver and have a “for instance” handy to use in relating to your audience if they express interest. “For example, our software allowed one manufacturer of metals presses to increase their output by 50%, without increasing hardware costs.”
5th Floor – THE DELIVERY:
Speak clearly, with conviction and at a normal tempo. Your pitch should sound natural. If you’re comfortable and confident, your audience will attribute credibility to your message.