"What do you do?" That question can make many entrepreneurs run for the door. Most entrepreneurs spend all their time developing a business idea or starting a business and rarely take out time to describe what it is that is being created.
An elevator pitch gives the entrepreneur a short overview of the idea, service or project that makes up the business. The name of the one to two minute summary comes from the idea that it is just the right length to allow the entrepreneur to share the concept in the amount of time it would take to ride the elevator.
Creating an Elevator Pitch
1. An entrepreneur starts the development of the elevator pitch by reviewing the business plan. Use the elements of the mission statement and vision statement to begin the task of developing an elevator pitch.
2. Make a list of all the key elements in the business plan that need to be highlighted when giving an overview of the business.
3. Write out a description of the force behind the business. An entrepreneur needs to learn how to sell the person and not just the business. This can often be the biggest hurdle for entrepreneurs.
4. Begin to formulate the ideas and lists into a short paragraph. Read the paragraph out loud and let others that you trust read it. You know you have the right elevator pitch when you and those you trust can get a well-rounded understanding of the business and the entrepreneur behind the business.
The perfect elevator pitch may not come immediately. Many entrepreneurs find that the elevator pitch develops with time and with practice. The only way to get to the place where the elevator pitch begins to fit is to write out a pitch and begin using it.
More Tips for Writing an Elevator Pitch
Focus in on the main problem or need that the service or product will meet. The elevator pitch needs to be the 100 to 150 words that best reveals the business.
Define the audience or ideal customer. Entrepreneurs need to understand who it is that the business will reach in order to find the best paths to reach those customers.
Keep it simple. The best elevator pitch will get straight to the point. It can be clever and fun as long as those elements do not cloud out the main point.
Remember the purpose. An elevator pitch opens the door. The pitch should not be designed as a way to close the deal. Create an elevator pitch that gives enough information to intrigue the listener into entering a dialogue to discover more.
Stay with it. The company and the entrepreneur will continue to evolve and so should the elevator pitch. Continue to tweak and change the pitch as time passes and experience expands.