ABo4o1 elevator pitch


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Getting support for your great idea
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  • Sometimes also called an elevator speech.
  • Pitch – Geschäftsgespräch, Geschäftsplanvorstellung so schnell wie ein Aufzug, ein „Aufzugspräsentation“ Aussagekräftige (Betonung auf “kräftige”) Formulierungen den Vorrang vor Projekteinzelheiten geben. „ Was machen Sie eigentlich beruflich?“ Eine einfache Frage, häufig gestellt auf Tagungen und Kongressen. Und eine gute Chance zur Anbahnung von Geschäftskontakten. Mit der Antwort gilt es, den Gesprächspartner neugierig zu machen. Kurz, knackig, mit wenigen Worten. Wie das geht, verraten die Regeln des so genannten Elevator Pitches, der Kurzvorstellung in 30 Sekunden. There are several definitions emphasizing particular aspects, for instance, The time for a business-oriented message, The content-oriented anticipated answer about ... The situation and related opportunity to opportunity The elevator pitch changes with time as your company and your businesses change. Update your speech as your situation changes
  • A well delivered pitch is remembered long after it is given. It should explain what problem you solve and grab your audience attention to make them want to know more. Having an elevator pitch means having the basis for getting attention for any subsequent presentation of the business plan. Key characteristics: Succinct - bündig Easy understable It must be greed inducing - Gier Must be irrefutable = unwiderlegbar Continually perfecting the elevator pitch ensures that you are always able to put your best foot forward as your business grows and changes and your client base expands. BUT: Every business grows and changes, and your pitch needs to grow and change with it. Business model: die Logik wieWerte erzeugt werden – für mich/meine Firma und die Kunden – und meine Geldgeber
  • Meeting someone in the lobby, hall or in the queue for coffee of a technical conference or exhibition , special conference event “investors to meet entrepreneurs”, during lunch time In firms: Meeting a “big boy” in the plane, in the lobby of airport, meeting the company’s president in the canteen in the queue, … When developing an Elevator Speech for a specific employer you've targeted, do research the organization and incorporate that knowledge into your speech.
  • Remember as you deliver your Elevator Speech that the listener may be mentally asking, "What's in it for me (or my company)?" In US you can say “greed inducing” In Germany rather: inducing expectations of big profits “ Große Gewinnerwartungen weckend”
  • The Rule of Three: For the key content elements of a good elevator pitch: The Hook A statement or question that piques their interest to want to hear more. most unusual, exciting, dramatic, or humorous aspect of what we offer.  Usually one sentence long and often a question that has a high probability of being answered in the affirmative. "hook" an intriguing aspect that will engage the listener, prompt him or her to ask questions, and keep the conversation going. The Close — demand for action –or- demand for reaction.  Usually this is a request for a subsequent meeting with a couple options for times/dates offered; provide your bsuiness card Do you want their business card, to schedule a full presentation,
  • Write and rewrite your speech, sharpening its focus and eliminating unnecessary words and awkward constructions
  • ABo4o1 elevator pitch

    1. 1. The Elevator Pitch Selling an opportunity in 30 – 120 Seconds
    2. 2. 2 What is an Elevator Pitch? Context of Entrepreneurship • A business-oriented, purposeful verbal message as fast as a ride in an elevator (30 -120 seconds) in understandable language – even for high-technology ventures • A concise, carefully planned, and well- practiced “answer” about yourself, your business, your firm, your project etc. • A situation with an opportunity to sell your company’s identity and set yourself apart from other entrepreneurs
    3. 3. 3 What is an Elevator Pitch? Business Plan in Context Elevator Pitch: The problem (need) you are going to solve (told in 30 seconds), 20 Minute Business Plan Presentation Leading to an early opportunity to present: •Your solution, and •value proposition to future stakeholders Elevator Pitch: the preliminary to your back-of-the-envelope business plan Adapted from W. Runge 04/2008
    4. 4. 4 Elevator Pitch Situations • All conceivable opportunities to initiate linking stakeholders (investor, backers; “sponsors”, gaketkeepers, decision makers) and entrepreneurs. • (A startup) searching for financial backing or cooperation partners • Meeting someone (accidentally or even better, intentionally) at … – Network Partnering-Events – In firms: before /after meetings, in the canteen… – Meeting a “player” in the club, sitting next to you on the plane, in the lobby of a hotel, …
    5. 5. 5 You only have one chance to make a first impression!
    6. 6. 6 Approach • Give people a “hook” by talking about something that really interests them • Be succinct, clear and to the point • Focus on one simple message • Make it easy for people to contact you after the pitch – and provide them with an incentive to seek you out • For investors: align pitch with their values (e.g, induce expectations of big profits)
    7. 7. Adapted from W. Runge 04/2008 7 Presenting: The Rule of Three • The “Hook" Get their Attention and Interest • The Opportunity Explain and support your point with passion (investors expect energy and dedication from entrepreneurs) • Should create Desire (“greed or good”) • Must demonstrate your team’s unique competences to exploit this opportunity. • The Close Call to Action AIDA!
    8. 8. 8 An Elevator Pitch Template • WHAT you do • WHOM you serve (target) • HOW you deliver (proposed solution) • BENEFIT(S) for target user EXAMPLE (“What are you doing for who, how and why?”): a."I [WHAT: helping verb] b.[WHO: target market/ideal customer/society] [____1___] [___2___] [___3___] [___4___] • [HOW: deliver what your target wants] • [BENEFIT: key benefit or desired result]"
    9. 9. 9 Business Plan Template in brief USP (Unique Selling Proposition) – Sentence #1 For (target customer) who (statement of the need or opportunity), the (product/service name) is a (category) that (statement of benefit). Sentence #2 Unlike (leading competitive alternative), our product (primary source of differentiation) Sentences #3 and 4 And our business model (main features), and will generate (revenues and profits over time) Ref. Dorf & Byers, p. 250
    10. 10. 10 Call to Action • Based on the assigned case, create and present an elevator pitch, derived from the suggested template (see Slide 8) • 30 (max 45) seconds version, no PPT. One teams will then move to the next step: • One (max 10 minutes) team to present your business plan to investors: remember you (not your Powerpoint) are the show. (you can start with this, then edit the content down to create the shorter one)
    11. 11. Rules for Thursday: • The entire pitch is by one person alone. • Entrants will have 90 seconds to present their idea. • Props are prohibited: including (but not limited to) Notecards, notes, or models, etc • No PowerPoint slides or posters, etc. • At the end of the pitch, each presenter may offer a business card (of normal size). W. Runge 04/2008 11
    12. 12. 12 Questions?