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Elevator Pitch: Presentation within 30 Seconds
| Definition, Explanation | Tips, Checklist |
Definition, Explanation
The term 'elevator pitch' is based on the idea of presenting a business concept whilst taking the elevator in such a way that a potential investor's curiosity is aroused. After this period of 20 to 30 seconds, the counterpart should be interested in you and your products or services. It is not the objective to present everything within this period but to make an appointment for detailed discussions. Whereas this instrument used to serve the purpose of referring an issue to the superior, nowadays it is much favoured in the scope of business plan contests and in the acquisition of financial means through business angels and venture capitalists. By doing so, they can look through and sort out the ideas presented.
Tips, Checklist
- Prepare yourself for the elevator pitch just as well as for the drawing up of a business plan
- Concentrate on the essentials, the core statement und take a clear position
- Incorporate suspense
- Be authentic and confident
- Work with questions and address your counterpart as a possible client
- Use pictures, comparisons, stories, metaphors and examples. These can awaken associations that will remain in the listener's memory
- Consciously make use of body language and voice for en emotional speech. Stay descriptive and avoid special terminology
- Do not mix up elevator pitch with an advertising text, but be specific
- Address directly a problem that you can solve
- Address your target groups, clients, partners or investors directly. Clearly take up the advantages your dialogue partner will experience through the product, service and collaboration with you. Clients are concerned about solving problems or fulfilling needs; investors are concerned about initiating a promising project
- Show your dedication and motivation. Get the others to be as enthusiastic as you
- Point out the difference to known competitive solutions with a clear advantage
- Practise your elevator pitch with friends and observe how they react. A good sign of awakening attention is when questions are asked due to your presentation and you are quickly involved in a stimulating discussion. If you can get through to people who have no idea about the subject, then you are on the road to victory
Last update: 12/16/2009
Copyright: Angela Bauer
