I have wanted to write a blog post on it, but I keep putting it off. Although I'm tired by the event of this week, I decided to write it now since I'm waiting for my hair to dry before I head to bed.
So, what is an elevator pitch? The elevator pitch is called so because it's how you are able to sell your idea/message in about 30 seconds to 1 min typically (which is about the time taken for the lift to get from one floor to another). Basically this is used by people trying to sell an idea/product/message to an investor, whom probably has many other proposals to consider or projects to do and do not have time to listen to your idea in full. If he/she is unable to develop an interest in your product by the end of this elevator pitch, chances are, the investor would not touch the rest of your proposal.
An example of an elevator pitch:
Basically, for an effective elevator pitch, there are a few things to take note:
1. Your Goal
You need to identify your goal - whether it is to get the other party to invest in a product, support a cause, or any other things
2. Explain what you do
For credibility mainly
3. Communicate your unique selling point
Identify what makes you/your company and your solution/product unique
4. Engage with questions
Prepare open-ended questions to engage the audience to involve them in the conversation (and to get them thinking)
5. Practice!!!
On top of these, an effective elevator pitch consists of the seven components below:
1. Concise
Getting your point across in as few sentences as possible.
2. Clear
Preferably in layman's term, not littered with bombastic vocabulary
3. Compelling
Explaining the problem that your solution solves
4. Credible
Explaining why you are able or qualified to solve the problem (who you are)
5. Conceptual
Do not include too much unnecessary details
6. Concrete
Be as specific as possible, with figures/research to back up if possible. But don't overdo it.
7. Customized
Address the specific interest/concerns of the audience
That's about it. :)
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