The term elevator pitch comes from the days when the average elevator ride was about 30 seconds in places like New York and Chicago. But no one ever actually pitches in an elevator anymore.
Your elevator pitch should be about 90 seconds long and designed to promote an idea or describe a challenge, service or product in a short time frame. Update it for the modern Ted-Talk Tik-Tok era!
Without an elevator pitch, you will miss out on opportunities to effectively promote and sell your business. By contrast, an entrepreneur that can captivate venture capitalists with their elevator pitch is unstoppable.
Like anything, your elevator pitch needs a narrative and structure. While brief your elevator pitch should take the listener on a journey. Your pitch should progress through the following stages. Who you are? What you are doing? Why are you doing it/what is the problem? How are you doing it? Where are you now? And finally, what do you want from them, the call to action.
Elevator pitches should be the first interaction in what becomes a long prosperous relationship for everyone. In my own experience, good elevator pitches have some common elements. They are: Personal, Concise, Engaging, Structured, Rehearsed, Action Orientated, Complete, Memorable, Relevant and Customized.
Some of these elements may seem like contradictions, but they are necessary to craft the perfect elevator pitch. For example, it can be difficult to create something personal and engaging that has still been rehearsed and is well polished.
Your elevator pitch will often be your first impression. As there is never a chance to make a second, first impression you should aspire to create the perfect elevator pitch.