Throughout the life of your business, you will be constantly be presented with several opportunities to either talk one-on-one with people or pitch your business to a group of people. And most times, these opportunities are usually unexpected and short-lived.
These short-lived opportunities could pop up during a quick trip to the store, meeting at your church, casual conversations with strangers, in the hallway of a bank or even during a plane trip. The way you pitch your business during those common, yet unexpected moments will go a long way in helping people understand what you do and more importantly, helping others connect with you.[Great Read: How to Develop a Business Pitch That Makes You Stand Out]
What is an elevator pitch?
An elevator pitch is a 30-second vivid description of what your business is all about and how you may help others or how they may help you.
As an entrepreneur whose mission is to build a profitable brand, you must be ready to share what you do in such a way that not only should it pique the interest of the listener, it should also make the listener want to find out more.
The key to giving effective elevator pitches is preparing ahead of time and practicing your pitch before you have the opportunity.
What are the elements of a good elevator pitch?
A good elevator pitch answers the following questions.
- What is the name of your business?
- Who is your target audience?
- What pain/problem does your target audience have?
- How do you help solve the problem or ease the pain?
- Why should your target audience choose you and not your competitors?
1. What is the name of your business?
When you find yourself in a situation where you need to tell someone what you do, the first thing to do is to state your name (assuming the person does not already know your name) and the name of your company. This part of your pitch should be a one-liner and do not try to over-complicate things by going into too many details. Remember, you only have 30 seconds for the entire pitch so do not waste time by saying unnecessary things
2. Who is your target audience?
If you want your elevator speech to be memorable, you should include your target audience. This helps the listener to know whether you have mutual areas of interests or whether your business can be a good fit for a problem that needs to be solved.
3. What problem/needs does your target audience have?
Every business must either solve a problem, fill a need or ease pain. You should know the specific problem that your target audience has and include this information in your elevator speech.
4. How do you help solve the problem or ease the pain?
For your elevator speech to stand out, you should include how you or your company help solve the problem or ease the pain that your target audience has
5. Why should your target audience choose you and not your competitors?
This part is perhaps the most important because it helps you hone in what makes you different from others. You should have at least three reasons. If you don’t have up to three reasons, it’s okay but whatever point you make here should grab your listener’s attention and be memorable.[Great Read: 7 Tips to Getting the Most Out of Your Next Networking Event]
Elevator Pitch Examples
My name is Layla and I’m the founder of Layla’s boutique. I started Layla’s boutique when I found out that 99% of young women professionals barely have the time for shopping. At Layla’s boutique, not only do we have personalized dress stylists, but we also help young women professionals save time by sending them monthly styling recommendations while providing the most comfortable atmosphere for shopping in our store. Our no-haggle pricing system is one of the things that also make us stand out from the crowd.
Every day, the average salesperson spends about four hours trying to book meetings with contractors/prospects which leads to the loss of productive time. That’s why I started “Book me Now”, an application that allows salespeople to send their private calendars to contractors/prospects to book meeting times without the stress of going back and forth. The cool thing about this app is you do not have to press any button – just speak and it does all for you. This means that no matter how busy you are you can book a meeting while also saving time. It’s a win-win situation.[Great Read: How to Choose a Target Audience]
Six years ago, I had an encounter that changed my life. The CEO of a fortune 500 visited a friend of mine and he tasted my apple pie and said it was the best. That’s how I started Apple-Pie on the go. My apple pies are for busy CEOs and executives who barely have the time to eat in between meetings. I packaged and deliver fresh apple pies to their doorsteps. This way they do not have to think about when to order or where to shop.
Remember, these are just examples that you can use as guides to develop up yours. Write out your elevator pitch and practice it before the opportunity shows up. If you use this guide in creating your elevator pitch, please share that information with us via email@example.com.
Thank you for reading. Do you have an elevator pitch? Share with us in the comment box, subscribe and share this post with a friend.
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