How to make an elevator pitch is one of the first questions posed by an entrepreneur when it’s time to present the project or business idea to potential customers or to a demanding and knowledgeable public of the world of entrepreneurship such as business angels. Consequently, in this post we will tell you the steps you must follow to make your pitch stand out above the rest.
In an Elevator Pitch you must be able to condense the best of your project to persuade and make people fall in love
⁉ What is an Elevator Pitch?
An Elevator Pitch is an introduction speech about yourself and your business with the main purpose of getting the attention and selling your product to potential buyers such as investors, customers, partners, etc.
✔ 4 steps to make the perfect Elevator Pitch:
The main objective is for your potential customers and buyers to get to know you and make a difference between your product and the competition. 4 steps to improve your Elevator Pitch:
#1 ⇢ Straight to the point
Being straight forward is key to achieve, succeed, you do not want a potential customer to feel confused or overwhelmed about your product. Focus on what you want to say and leave them speechless.
#2 ⇢ Body language
An effective use of body language plays a key role in communication. This is a primary factor in making a strong first impression. The aim is to be perceived as relaxed and confident.
#3 ⇢ Sell yourself
It is essential that you keep in mind each and every one of your words and gestures. What you really want is to sell your business idea and generate in potential clients, investors, partners … the necessary interest to be part of your project and bet on it. You are the person responsible to raise a necessity in them and capture their attention in a few minutes, you are therefore in charge of knowing how to sell your business idea.
#4 ⇢ Be enthusiastic and passionate
Lastly the speech needs to create not only interest, but an emotion. It is important to make them feel they need to know more about your project.
⇢ Which is the optimal structure for a successful Elevator Pitch?
The structure of an Elevator Pitch must be straight forward and there is not a place for improvisation. You have a limited time to present your project.
From Lexington, we recommend this structure for a perfect Elevator Pitch:
- Flaws: find out what are the flaws on market.
- Solution: develop a solution for those flaws with your product !
- Market: analyse the market you want your product to work on and compare yourself with your competitors. The potential buyers, investors and customers need to know if your idea is reliable and trustworthy.
- Business model: is very important to prove the profitability of your business plan long and short term.
- Team: more often than not is the people involved in the idea that sells instead of the idea itself.
- Call to action: use the last 10 seconds of your pitch leave the audience speechless with a meaningful phrase.
“Always deliver more than expected”