Picture this. You’re an entrepreneur and are attending an emerging technology conference in a swanky hotel. At the end of the day, you decide to change clothes before going out for the night. You head over to the elevator bank, push the “Up” button, and step through the doors of a waiting elevator car. Just as the doors begin to close, you hear a voice shout out, “Hold the door, please.” You swing your notepad between the closing doors and, as they bounce back, through the door bounds a 40-something man who just happens to be one of the country’s top Venture Capitalists. What do you do?
How to MarketYourself to Investors – The Elevator Pitch By: Rup Jolly
Topics we are going to cover: What is an elevator pitch? Why is it important? Example of a real pitch What makes a good elevator pitch? Applications Q&A Session
What is an elevator pitch? An elevator pitch is designed to play the role of a primer; as a high-level and basic introduction to whatever it is that you are selling. Usually between 30 sec to 2 min http://www.youtube.com/watch?v=Tq0tan49rmc
Why is an elevator pitch important? People like big picture examples Short attention spans It’s an awesome selling tool! It’s a teaching tool It gets to the point efficiently It can get you hired Example of a Scenario
Other questions to answer to deliver effective investor pitches
Elements of a successful elevator pitch… 1. Concise An effective elevator pitch contains as few words as possible, but no fewer. 2. Clear Rather than being filled with acronyms and ten-dollar words, an effective elevator pitch can be understood by your grandparents, your spouse, and your children. 3. Compelling An effective elevator pitch explains the problem your Solutionsolves. 4. Credible An effective elevator pitch explains why you are qualified to see the problem and to build your Solution. 5. Conceptual An effective elevator pitch stays at a fairly high level and does not go into too much unnecessary detail.
Elements of a successful elevator pitch… 6. Concrete As much as is possible, an effective elevator pitch is also specific and tangible. 7. Consistent Every version of an effective elevator pitch conveys the same basic message. 8. Customized An effective elevator pitch addresses the specific interests and concerns of the audience. 9. Conversational Rather than being to close the deal, the goal of an elevator pitch is to just set the hook; to start a conversation, or dialogue, with the audience. 10. Commerce You have a good understanding of your target market and why they will buy your product/service
Elements of a successful elevator pitch… Questions to answer:
What is your USP? (Unique selling proposition)
How is your product/service different and better than what’s available on the market?