MGT 1100: The Elevator Pitch - Coggle Diagram
MGT 1100: The Elevator Pitch
What is an Elevator Pitch?
An elevator pitch is a clear, brief message or "commercial" about you.
It communicates who you are, what you're looking for and how you can benefit a company or organization.
Your elevator pitch should sound natural. It will take a little bit of practice. The important things is to practice it OUT LOUD.
The elevator pitch is:
absolutely not longer than 25 to 30 seconds
or - in words - approximately 80 to 90 words
or - in sentences - 8 to 10 sentences
Smile to you counterpart, and open with a statement or question that grabs attention: a hook that prompts your listener to ask questions.
Tell who you are: describe you and your company.
Tell what you do and show enthusiasm.
What do you offer
Tell what problems have solved or contributions you have made.
Offer a vivid example.
Tell why you are interested in your listener.
What are the benefits
Tell what very special service, product, or solution you can offer him or her.
What are the advantages of working with you? In what do you differ from competitive companies?
How do you do it
Give a concrete example or tell a short story, show your uniqueness and provide illustrations on how you work.
What is the most wanted response after your elevator speech? Do you want a business card, a referral, or an appointment for a presentation after your elevator speech?
Other business questions
Who is your target?
How large is your market volume?
How do you make profits?
What are the background, major milestones and achievements of your team?
Who are your competitors, how do they solve a problem? What is your strength and advantage compared to them? What is your Unique Selling Proposition? Are there special patents or technology?
Checklist for finetuning
Step 1: Write down what comes to your mind
Step 2: Cut the jargon and details.
Step 3: Connect the phrases to each other. It should flow.
Step 4: Memorize key points and practice.
Step 6: Create different versions for different business situations of you elevator speech. Note them on your professional business cards.
Step 5: Have you really answered the key question of your listener: What's in it for me?