How can you best construct an 'Elevator Pitch'?Once you have a clear idea of what your business is and how it is different, you then need to work out exactly how to communicate this to others. This is an essential skill for all stages of the business journey – from speaking to the bank manager for funding and persuading your partner, through the day to day running, and eventually when speaking to potential buyers of your business; you will need to be able to sum up exactly what you do and how you do it in a clear and concise manner.
An ‘elevator pitch’ is a brief statement which sums up your business in an easily understandable format. Although the concept of an elevator pitch is simple, creating one is often very difficult! To create a memorable pitch with impact, it is important that you focus on the benefits that your business can bring to its customers, whilst remaining clear about exactly what you do.
Examples of poor elevator pitches and how they could be improved:
- “I am a gardener with 20 years of experience” could become “I help people create low-maintenance gardens which the whole family can enjoy”
- “I am a local solicitor who specialises in contractual work” could become “As an expert in contending legal contracts, I help businesses prepare watertight agreements based on my experience of pulling apart weak contracts – saving them time and money in the long run.”
- “We are a marketing agency specialising in creative copy” could become “By transforming the words that you use, we help you transform your sales letters from filling recycling bins to being top of your target’s to-do list”
Whilst this might appear obvious, it always surprises me how many businesses neglect their opportunity to make a strong first impression at networking events with a strong pitch.