Your Elevator Pitch

Posted on September 20, 2011 by

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Those at Babson surely know the power of a well rehearsed verbal pitch.  While Babsonites may refer to it as their rocket pitch, most people refer to it as an elevator pitch.  A short 30 second or 1 minute description of their business idea.

You might think it is silly to rehearse something that seems so easy, but in actuality it’s quite difficult to perfect.  Try it out!  Can you pitch a clean, fundamental, and exciting description of your company and its value?  As a person with a new product launching shortly I think i’ve given close to 30 elevator pitches in the past month and am still figuring out how to perfect it.

The following is a great outline for constructing a strong elevator pitch from Gablepr:

TAG LINE/SOUND BITE – The opener – an instant picture or quick summation of your positioning. What you do, what you stand for, to what effect and why it’s important. One sentence is best. Practice with people who don’t know what you do and keep honing this one sentence (two at the most) until it rings like Shakespeare.

PROBLEM, SITUATION ANALYSIS – What exists – the pain or problem you solve?

DYNAMICS AND OPPORTUNITY – Quick historical overview of how it got to this point, how the challenge has been addressed, what is the sweet spot for your company or organization (keep it to three important points, no more!).

WHAT (solving the problem) – Your company (or organization) has been working X years to plan for and develop D, E and F to solve the problem, take advantage of the market opportunity and grow and succeed over the next Y years.

OVERVIEW FROM 30,000 FEET – The macro view, the big picture of how your great concept (science, disruptive technology, new category, etc.) comes together and will grow market share, sales, traffic, profits, benefits to the community, whatever – the BIG PICTURE vision of future success rather than technical details and features.

SO WHAT (Benefits) – You will succeed because of the creative planning, results and ultimate value you deliver. Create a mental picture of the benefits to science, patients, customers, the world. If there is a good case history, even early stage clinical trials or beta testing results, cite the proof of principle in a sentence or two.

THE TEAM – The team includes executives with national credentials in A, B and C. It has a combined ZZ years in the industry, has built MM, helped YY other companies or institutions grow and knows the market and how to provide an expanding array of products and services to help it succeed (make it relevant to the big picture). Investors in particular need to have faith in the team.

THE CLOSE (call to action on the elevator) – “We have the people, the plan and the commitment to succeed. I can provide incredible detail that I believe will convince you to invest, interview, buy, etc. How about a follow up meeting? This week or next (try to nail something specific)? Where would you like to meet? What else can I provide?” Ask direct questions that take it to the next step.

Learn it, live it, love it!  Get cracking!

~Ham

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