Top 7 Tips for the Perfect Elevator Pitch

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Time is always a luxury item – and the more important you become, the less time you will have.

Think from the point of view of an investor or an entrepreneur whose main work is to invest into companies but there are an insane number of opportunities that they have – which makes their time very valuable.

Getting an appointment from someone that big is almost impossible.

They might not be able to give you an hour of their dedicated time, but that said – they are still human. They use elevators, parking lots, washrooms, library, sports stadiums etc. These are excellent places to get a quick conversation going – it might not last more than a minute at max but that should be enough to put something really valuable about your business into their ears.

This little something is known as elevator pitch and here’s Top 10 tips to help you make that perfect elevator pitch.

Focus on a point:

When you have as little as 30 seconds of time to explain something, it is best to focus on a single point. Your company or business might have several angles or products but since we only have seconds to make an impact – it is best that you focus on a single point and stay on it.

Determine what aspect of your business has the potential to make the most impact – while you factor all the things, make sure that your pitch is interesting to a potential investor.

Keep it Simple:

Keep it Simple

Keep it Simple

Do note that someone might be rich or important but that does not really make him ultra smart. Your target person might be just a ordinary listener as the next person.

Make your pitch simple, make sure to use words that are easily comprehensible. Your product or business might be technical but your pitch does not needs to be.

Get some Numbers Ready:

Too many stats won’t help, but if your stats are backing the point that you were trying to make earlier then it can help. People love numbers and as long as the numbers are real and makes sense – you can throw a few stats.

From personal experience, quoting the number of paid subscribers helps a lot, especially if you can craft that number in a casual throwaway sentence.

What is in it for me:

What is in it for me

What is in it for me

This is how the world revolves – unless there is something in it for your target influencer or investor then this entire exercise is pointless. Hopefully you have done your research at this point and know everything well in advance about what your target person is interested in.

Here’s a few ways you can make this attractive for him – say he has written a few books, then you need to mention that you have read his book, or say you have a suggestion about one of his portfolio items where you can provide an actionable and real feedback. This can be anything but has to be relevant for your person.

Important people get pitches all the time and believe it or not – there will always be someone better at pitching no matter how hard you try. Your product or pitch might not be as good as others – but your offer can surely be more lucrative. Run the extra mile and give him something that truly makes a difference.

Determine how much attention you need:

If you are looking for a job interview then this elevator pitch should simply be enough to make sure that your potential employer gets to know a bit of what you can do. However if you are the owner of a startup looking for funding then you have to do a lot more than just knowing each other.

Depending on the situation, you would perhaps want to do an informal introduction with your potential investor, then manage an appointment for further conversation. Too much attention on a first visit can also be counterproductive – so keep this first contact short and try to build on it and dive further deeper when the next opportunity of conversation comes along.

Use a Mediatory:

Use a Mediatory

Use a Mediatory

This works better than any other tip you would want to apply – but you need to plan this well in advance.

Everyone trusts a source that they know well, same happens with an investor – if they have invested in a company before and it is working out well then their recommendation works best. Track down the companies your potential investor has invested in and make sure to get someone familiar from that list to be present when that elevator pitch happens.

Do keep in mind about the – what is in it for me – before you request that, someone.

End with a possibility of communication:

This goes without saying that you need to keep some channel of communications open so that after your short meeting you should be able to get the talking going.

It is you who have to followup no matter how important you make yourself during this pitch. But for your followup to get a response, you have to make this 2nd contact about him – not yourself.

The best way to do this – is to ask him to do something for him. As long as you are delivering something valuable to him – your channel of communication will stay open and that should give you enough time to get what you want from him.

Elevator pitches are short, quick – just a few words – but these are the words that can make or break a huge potential business opportunity. Count the letters of these words as dollar amounts and treat them as such.

While creating an elevator pitch opportunity – is the ideal strategy, but realistically saying – these things happens very randomly and very rarely. It is best that you be prepared for such an opportunity. Practice these pitches well in advance so that when such an opportunity happens – you are totally prepared for it.

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Oleg Kaluger

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Comments

One Comment on “Top 7 Tips for the Perfect Elevator Pitch”

  1. Vicky says:

    Good one, Thanks.

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