Mash up of Elevator pitch presentations

1. The Elevator Pitch
Pitching in 30 – 120 Seconds

2. W. Runge 04/2008 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
– also for technology areas
• 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. W. Runge 04/2008 3
What is an Elevator Pitch?
Business Plan Context
Elevator Pitch:
• The problem
(need) you are
going to solve
(satisfy)
20 Minute Business Plan Presentation
• Your solution,
your answer
• Your value
proposition
Elevator Pitch: a back-of-the-envelope business plan

4. W. Runge 04/2008 4
Elevator Pitch Situations
• All conceivable constellations to initiate
linking investors (backers; “sponsors”,
decision makers) and entrepreneurs
(intrapreneurs)
• (A startup) searching for financial
backing or cooperation partners
• Meeting someone (accidentally or
intentionally) at …
– Competence Network Partnering-Events
– In firms: Meeting a “big boy” in the canteen,
plane, in the lobby of an airport, …

5. W. Runge 04/2008 5
You only
have one
chance to
make a first
impression!

6. W. Runge 04/2008 6
Approach
• Give people a “hook” by talking about
something that really interests them
• It must be succinct, to the point
• Focus on one simple message
• Make it simple and easy for people to
contact you after the pitch –
give them an incentive to seek you out
• For investors: It must be greed inducing
(inducing expectations of big profits)

7. W. Runge 04/2008 7
Presenting: The Rule of Three
• The “Hook"
Get attention and
interest
• The Subject
Explains and proves
your point with passion
(investors expect energy
and dedication from entrepreneurs)
• Should induce desire (“greed inducing”)
• Use the Concept Summary as a
framework
• The Close
Call to action or demand for reaction AIDA!

8. W. Runge 04/2008 8
An Elevator Pitch Template
• WHAT you do
• WHOM you serve
• HOW you deliver
• BENEFIT(S) for clients
EXAMPLE (“What are you doing?”):
• "I [WHAT: helping verb]
[WHO: target market/ideal customer]
[_______] [_______] [_______] [_______]
• [HOW: deliver what the customer wants]
[BENEFIT: key benefit or wanted result]"

9. W. Runge 04/2008 9
USP Template: Wording
USP (Unique Selling Proposition) –
Template:
• Sentence #1
For (target customer)
who (statement of the need or opportunity),
the (product/service name) is a
(product/service category)
that (statement of benefit).
• Sentence #2
Unlike (primary competitive alternative),
our product (statement of primary
differentiation).
Slide 9.23; Ref. Dorf & Byers, p. 250

10. W. Runge 04/2008 10
USP/Elevator Pitch: Other Uses
• If the startup/NTBF is launched and has a
Web site, a USP should appear on the
firm’s Web site under the headings
– Home,
– Company or
– About

11. W. Runge 04/2008 11
Call to Action
• Use your product or invent one to create
and present an elevator pitch
Based on the template (Slide 8)
• One lasting 30 (- 45) seconds
• One lasting 120 (-150) seconds
(start with this one and boil it down)
Based on the USP-approach (Slide 9)
• one lasting 100-150 seconds