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C. Elevator Pitch

DIRECTIONS: An Elevator Pitch got its name from this scenario:

You are an aspiring entrepreneur with a great idea- but no cash! One day, you go downtown to meet your friend for lunch. You have to meet him at his office in a high rise building. While getting on the elevator you are joined by one other person- whom you recognize as the richest investor in town! You realize that fate has landed a major opportunity in your lap, and decide to pitch her your business idea. You have just 2 minutes till the elevator gets to her floor- make them count!

Today an elevator pitch is a standard tool of any entrepreneur. You are trying to capture an investor’s attention. Get it right, you get funded, blow it and you may be escorted out by security. Though, you might not actually ever be in an elevator when giving your pitch!

Overall, you want to be as clear and quick as possible, and answer 2 essential questions:

  • What problem is your service/product solving?
  • How is your service/product solving this problem?

In general, your elevator pitch must be:

  • Short. Absolutely cannot be longer than two minutes.
  • Easy to understand. No slang or jargon.
  • Investor must see how they will make money.
  • Irrefutable. Leaves no question unanswered. 

Tips & Resources

  • Have good posture and enthusiasm.
  • Be ready for follow up questions- both general and technical.
  • Inject some humor or personality into your pitch. Let us know who you are as a person, as appropriate.
  • Practice, Practice, Practice.
Some videos of elevator pitch advice and practice:

YouTube Video - Elevator Pitch How To


YouTube Video - Elevator Pitch Example


Example:

Hello, Mr. Investment Banker. I see you like to workout. (Obviously, since we are in a gym.) I'm sure you have seen some people at this gym wearing these bland tshirts. I'm willing to bet none of them are made from high quality material. They also don't add anything motivational to this work-out environment. I really like a tshirt that says something to me and those around me to energize us.

You've seen the Wacky shirts and the Go Hard shirts. Yeah, they look ok and I'm sure they do the trick. But I'm willing to bet those companys are also helping to destroy the planet and have no corporate ethics. What does that say about the people who wear that stuff? What about the other side of the coin? Where is the gear for those people?

My buddies and I have started a tshirt company that makes really stylish tshirts with positive motivational messages. They are also made of high-quality, organic, fair-trade cotton. You are probably thinking 'that sounds like that other tshirt company I've seen people wearing'. Well, we feel we do it a little different and better. We have a solid business plan we have worked on for quite a while now and are ready to move forward with serious production and sales. We would like the opportunity to give you a closer look at what we are trying to do with Get Moving tshirts.

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