One of the most important things a business woman can do-especially an owner or someone who is involved in sales-is learn how to speak about their business to others. Being able to sum up the uniqueness of your service or product in a way that excites others should be a fundamental skill.
Author: Rúna Magnúsdóttir
Runa Magnusdottir, ACC Executive Coach from ICF and a certified Passion Solutions for Business Facilitator. Runa is is an international speaker/trainer and the founder & CEO of Connected-Women.com a global social search and networking site for professional women used by organizations of women entrepreneurs worldwide.
Her passion is to give joy and support people to grow and live a prosperous life.
So what is an "Elevator Pitch"?
An elevator pitch is the term used for a very brief description of a company that an entrepreneur could give in the time it would take to ride up an elevator, and we are not talking about some New York skyscraper!
What an "Elevator Pitch" is not:
It is not a "sales pitch." Don't get caught up in using the entire pitch to tell the Investor how great your product or service is. The Investor is "buying" the business, not the product. Tell him/her how you will run the business.
You'll use your elevator pitch over and over: in e-mails to prospective financing sources, to introducing yourself and your company at networking events, to describe your business to potential customers.
Take a few moments to develop your own elevator pitch!
Check out these six steps:
-
What is your product or service?
What are you selling? How does your product help people? -
Who is your market?
Where are you selling your product? Who is your audience? -
How do you expect to make money?
How will your business create money? -
Who are you and others behind the company?
You need to create trust to investors or future customers -
Who is your competition?
Knowing your competitor is vital. Don't ever think you don't have one! -
Why will you be successful?
How is your product better than your competitors?
Remember!
People only hear 7% of the words you say to them. Pay attention to the tone of your voice, your body language, the trust and self-esteem behind the words all play a lot bigger role. Therefore you need to write your points down, create make a short ca 30 second sentence out of it, and practice, practice, practice!
Next time you give out your "Elevator Pitch" to a new person, pay close attention to their reaction, check what they heard and understood and from there adjust your pitch!
Good luck!
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User Comments
( ADD YOUR COMMENT )Melanie Kissell
Bravissimo, Runa!
June 6th, 2009 | offensive or a double post?Really enjoyed reading your article. I just listened to a fabulous "elevator pitch" training last evening by Annetta Wilson. She's incredibly phenomenal.
The "communication equation" is quite interesting. And, you're right! Belly-to-belly, people only hear 7% on the content (words that we say). Amazing.
Looking forward to reading more from you,
MELANIE
Cindy Earl
Enjoyed your article. May I also add to the equation, it's not only the target market that you serve (the who), how you help them (the what) but you must also add the why - which is why you get out of bed everyday to do what you do. It's also about what you stand for in the world. It's that special sauce that makes your "elevator speech" more authentic and less sales-y.
June 15th, 2009 | offensive or a double post?We call it your "who and do what statement" in my coaching practice.
BTW, I wish we could come up with a better name than "elevator speech" don' t you? :)
Cindy Earl
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