Prime Minister Narendra Modi said the Government has been implementing the Fund of Fund Scheme to help startups raise equity capital at Prarambh: Startup India International Summit on 16th January, 2021. He added that the government would also help startups raise debt capital in the future.
An elevator pitch or elevator speech is a brief speech for the short description of an idea, product, service, or company that can grab and sustain the listener’s attention. In the financial world, the elevator Pitches is an attempt by entrepreneurs to convince a financier or investor that a business proposal is worth investing in.
A concise yet persuasive elevator pitch is best that has a touch on what your company does, who you serve, and the value proposition that differentiates your business from competitors. Only the best elevator pitches can grab a capitalist’s attention.
The speech is also used by project managers, sales departments, and job seekers. There are several events where such pitches are delivered to potential investors. During your startup elevator pitch, use easy-to-understand and brief sentences to convey your idea clearly. Within 60 seconds or 75 words, you must include your name, project name, and services you offer.
How to write Good Elevator Pitches
The goal of an elevator speech is to earn a second conversation and not to convince a sale. Do not take it as an opportunity to finalise a deal only. Instead, earn attention and time.
An effective elevator pitch should be engaging, concise, and well-paced. It would be a 30-second memorable description if you consider the following points while preparing for your elevator speech:
- Explain in clear and direct terms only.
- Brief the ‘pain point’ that your team is attempting to solve
- Attention-grabbing question
- Clear before and after conditions
- Teach, don’t preach
- Summarise your approaches using strong impactful words.
- Differentiate your successful idea where others have not.
- Empathy Rule
- Surprise Ending
The elevator pitch will not be effective if:
- It is long
- It is talking too much about oneself
- Further, it is not specific
- It is not attention-grabbing facts
- Moreover, it is not providing actual examples
- It is not actionable
Look at your industry and pick some of the best elevator pitches.
1. Sales Elevator Pitch Example
- ‘So tasty. You won’t notice how healthy they are. The snack for those who don’t snack.’
- ‘6 grams of protein per serving. Further, some call it a protein shell bomb, we call the snack.’
- ‘Eat them for protein, eat them for healthy fats, or eat them for yum taste.’
2. Elevator Pitch for a Job Interview
‘I am the candidate you have been looking for in your organisation.’
3. Introduction at a Career Fair/Networking Event
- I recently graduated in communications. Further, I have worked on the college newspaper as a reporter, and eventually, as an editor of the arts section. I am looking for a job that will put my skills as a journalist to work.
- Additionally, I create illustrations for websites. Moreover, my passion is to draw illustrations. I have come up with creative ways to express a message that attracts people on social media.
4. Entrepreneur Elevator Pitch
- My company designs personalised sales funnels for our online clients. They can enjoy a flawless user experience tailored to their requirements and interests, and get automated solutions that dramatically boost sales. We supported our clients to increase online revenue month-on-month by 130%. Do you have any experience with eCommerce automation?
- I’m sure you’ve heard that famous sales statistics: 80% of sales are made by the top 20% of salespeople.
5. Elevator Pitch Example for a Student
- I’m a recent graduate in English and a minor in Film Studies. I am working as a freelance copywriter for local businesses and NGOs, and a movie critic for the Huffington Post. You should check my recent review that has got 52 thousand shares on Twitter. Maybe you have come across it? If you know someone in need of buzz-worthy content, feel free to send them my way! Thanks.
6. Elevator Pitch Sample—Semi-Formal Introduction
- First and foremost, I am saving the world economy. Other than that, I grow corals on dead and declining reefs. I am travelling the world to evaluate reefs. Currently, my team and I are growing corals in Fiji, next year we’ll do the same on the Great Barrier Reef, together with a team of Australian scientists. What does that have to do with the world economy, you might ask. Well – if humans kill off the reefs, whole oceanic ecosystems will follow. And soon after – the Earth.
Your elevator speech is considered by capitalists when deciding whether to continue with your idea. Furthermore, consider the elevator pitch as an executive summary explaining why you will succeed. Practising making your voice memorable and great will help you sound great. Just giving a 30-second pitch at networking events can create your entire business.
Frequently Asked Questions (FAQs)
1. What is the purpose of an Elevator Pitch?
The purpose of an elevator pitch is to earn the second conversation and trust of listeners. Focus on making them understand your idea well instead of closing the deal.
2. How long should be an Elevator Pitch?
An effective elevator pitch should be less than 60 seconds. On the contrary, depending on the circumstances, elevator pitches can go into greater detail than the brief elevator explaining how to grow and what the market opportunities are available for the concept.
3. What are the characteristics of a good Elevator Pitch?
An Elevator Pitch should be concise, clear, credible, concrete, compelling, consistent, conversational.