The document provides tips for creating an effective elevator speech in 3 sentences or less. It begins with some challenges of the current communication environment and common problems with elevator speeches. It then offers a template to follow that includes using the word "you", differentiating yourself, including a memorable analogy, being conversational, having a call to action, and rehearsing the speech without memorizing it. The template is demonstrated with an example elevator speech. Lastly, it notes the speech should be adapted for different target audiences.