How to pitch your business to anybody in 30 seconds or less
Designing your elevator pitch
How to pitch your business to anybody in 30 seconds or less
Most people have heard of an elevator pitch. They usually think of it as what you'd say if you had a few moments on the elevator with a key decision-maker and had to communicate your idea before they got off. But that wasn't the original elevator pitch. To understand the heart of an elevator pitch, we need to look at the very first one ever presented.
In 1853 Elijah Otis found a revolutionary solution to a challenging engineering problem. Many buildings in America at the time had elevators, but they weren't for people to use due to safety concerns. If an elevator cable broke (which wasn't uncommon at the time), the contents of the elevator were destroyed when it plummeted to the ground. Elijah Otis found a solution to this problem. Still, his biggest challenge was convincing people that it was safe. His answer was to rent an exhibit hall in New York City's largest convention center and gather people to watch an elevator he set up. With a crowd of spectators, he proceeded to cut the rope that was holding the elevator up. As the crowd's panic peaked, his falling elevator quickly came to a safe stop. The crowd realized that he was all right, and Otis concluded his presentation by saying, "all safe, gentlemen. All safe."
The funny thing about the first elevator pitch was that Elijah Otis was pitching a safety mechanism for elevators, and as a result, the rest of us now ride in them and try to pitch ideas. What's so powerful about his story is that he quickly and effectively communicated the most important elements of his invention. Otis didn't try to persuade people based on the engineering genius behind his idea or even try to demonstrate the effectiveness of his invention using weights. He knew the number one question would be, "is it safe for people? "And he designed his elevator pitch to answer that question clearly.
So why do you need an elevator pitch? It's not uncommon for people hearing that you're starting a business to ask for your elevator pitch. In these moments, it's extremely helpful to have one prepared and well-practiced. But more importantly, your elevator pitch is the foundation for how you talk about your business with potential partners, customers, and employees.
For your elevator pitch, you need to be able to answer three questions.
The three questions above are straightforward; however, most entrepreneurs and business owners don't have clear answers.
Side Note: Once your nail your value proposition, you will want to include it in your elevator pitch. If you don't know your value proposition, we recommend taking our "designing a value proposition" course.
There's no hard and fast rule regarding elevator pitch length, but we recommend keeping it around 30 seconds. In some situations, you may be given a couple of minutes to share what makes your company unique. In other instances, it may only be appropriate to share a 15-second version. The important thing is that you have answers to the questions above that will help you identify your elevator pitch narrative. Once you have that starting point, your pitch can be shortened or lengthened as needed, depending on the situation.
They say practice makes perfect. That's true when it comes to sharing your elevator pitch. Take every opportunity to practice sharing this short, effective introduction to your company. By the time your company is successful, you'll feel like all you have done is repeat the same core message over and over again. It might get boring for you to say the same thing every day. Remember, it's often your audience's first time hearing it, and it's always a helpful reminder of your company's core message.
How to pitch your business to anybody in 30 seconds or less
Designing your elevator pitch
How to pitch your business to anybody in 30 seconds or less
Most people have heard of an elevator pitch. They usually think of it as what you'd say if you had a few moments on the elevator with a key decision-maker and had to communicate your idea before they got off. But that wasn't the original elevator pitch. To understand the heart of an elevator pitch, we need to look at the very first one ever presented.
In 1853 Elijah Otis found a revolutionary solution to a challenging engineering problem. Many buildings in America at the time had elevators, but they weren't for people to use due to safety concerns. If an elevator cable broke (which wasn't uncommon at the time), the contents of the elevator were destroyed when it plummeted to the ground. Elijah Otis found a solution to this problem. Still, his biggest challenge was convincing people that it was safe. His answer was to rent an exhibit hall in New York City's largest convention center and gather people to watch an elevator he set up. With a crowd of spectators, he proceeded to cut the rope that was holding the elevator up. As the crowd's panic peaked, his falling elevator quickly came to a safe stop. The crowd realized that he was all right, and Otis concluded his presentation by saying, "all safe, gentlemen. All safe."
The funny thing about the first elevator pitch was that Elijah Otis was pitching a safety mechanism for elevators, and as a result, the rest of us now ride in them and try to pitch ideas. What's so powerful about his story is that he quickly and effectively communicated the most important elements of his invention. Otis didn't try to persuade people based on the engineering genius behind his idea or even try to demonstrate the effectiveness of his invention using weights. He knew the number one question would be, "is it safe for people? "And he designed his elevator pitch to answer that question clearly.
So why do you need an elevator pitch? It's not uncommon for people hearing that you're starting a business to ask for your elevator pitch. In these moments, it's extremely helpful to have one prepared and well-practiced. But more importantly, your elevator pitch is the foundation for how you talk about your business with potential partners, customers, and employees.
For your elevator pitch, you need to be able to answer three questions.
The three questions above are straightforward; however, most entrepreneurs and business owners don't have clear answers.
Side Note: Once your nail your value proposition, you will want to include it in your elevator pitch. If you don't know your value proposition, we recommend taking our "designing a value proposition" course.
There's no hard and fast rule regarding elevator pitch length, but we recommend keeping it around 30 seconds. In some situations, you may be given a couple of minutes to share what makes your company unique. In other instances, it may only be appropriate to share a 15-second version. The important thing is that you have answers to the questions above that will help you identify your elevator pitch narrative. Once you have that starting point, your pitch can be shortened or lengthened as needed, depending on the situation.
They say practice makes perfect. That's true when it comes to sharing your elevator pitch. Take every opportunity to practice sharing this short, effective introduction to your company. By the time your company is successful, you'll feel like all you have done is repeat the same core message over and over again. It might get boring for you to say the same thing every day. Remember, it's often your audience's first time hearing it, and it's always a helpful reminder of your company's core message.
StacDek helps companies design strategies that drive long-term growth.
