Whether we’re looking for capital, customers, or team, we entrepreneurs are always pitching. But often we have only the length of time it takes to ride a few floors in an elevator to make our request.
The point of an “elevator pitch” (at IBI Global we call it a SNAP) is to get someone interested enough in our company to get their card or garner a referral. We don't need to tell our whole story, just enough to pique someone's curiosity. Here are 6 ways to make sure you have power in your SNAP. Be Concise: A SNAP is clear, concise and well-practiced. Deliver it in the time it would take to ride up an elevator – in other words, no longer than 30 seconds. That’s time for about 50 words or less. Define the Problem Your Company is the Solution to: Avoid sounding like a solution in search of a problem. Explain how your unique solution fills a “must have” need. If you aren't solving a problem or filling a need, you're in for a tough sell. Problem Example: Did you know that 50 % of all drivers describe themselves as having trouble seeing at night? Problem Solution: My Company has developed a spray-on product, that can be easily applied to any windshield and focuses 20% more ambient light for better night vision. Speak from a Position of Knowledge and Power: Describe your product or service and its benefits succinctly. Depending on your audience, you may also want to: define and size the market explain how you’re going to make money tell who is behind the company and frame the competitive landscape and your advantage in it. Grab the Listener's Attention: Develop a tagline full of power words to pique interest. If your product is complex, then use a metaphor to describe your company and its position in the market. Something like: "We're Amazon.Com for the coffee and tea set." Show Your Passion: As an entrepreneur, when you get any chance to tell your story, you should automatically be "on" with your excitement and passion pouring out. Conclude with What You Need Next: No matter who you are "pitching" to, they can't help you if they don't know what you need. Use language like this: "And what I need now..." or "And the kind of contacts I'm looking for are..." Be Ready, Be Precise, Be "On" and you will more easily attract the resources your company needs. | 