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Elevator Pitch Tips


The Elevator Pitch

Believe it or not networking is one of the most important activities for an entrepreneur. To network effectively, an entrepreneur must have a compelling elevator pitch. The ability to communicate what your business is in a memorable,and succinct manner is important. An effective way to reach your audience, the elevator pitch serves as an introduction to your business highlighting the differentiating aspects. Underscoring what differentiates your business from your competition is what makes an elevator pitch memorable. The elevator pitch can be used in many situations from seeking capital, partners, customers, sales situations and, of course, networking opportunities. Don’t confuse an elevator pitch with a sales tool. The elevator pitch is more of a relationship building tool.

One common mistake made is to not adjust the elevator pitch to reflect the changing needs and wants of the target market. What differentiated you in the past may not be relevant now. Keeping current with your target market needs will help you know when your ‘pitch’ needs to be adjusted. Rarely, what differentiates you now will differentiate you in the long term. Constant and clear communication with your target market is the only way to know when that ‘shift’ occurs.

The elevator pitch should be under 30 seconds to be captivating. Thirty seconds is enough time to achieve your goal of having the listener, at the end of your elevator pitch say, “Really! Tell me more.”  That is the effect you want your elevator pitch to have on your audience. Keeping your elevator pitch to under 30 seconds requires an economy of words. To perfect this economy of words practice using Twitter. Twitter requires using as few as characters as necessary to convey your message.  Although Twitter is helpful in sharpening your skill to form concise messages the elevator pitch has to be complete, and logical in its presentation.  A concise, well delivered message shines light on a good message and glare on a bad message. An Angel investor once took aside to express his belief that a good idea clearly shines though when expressed succinctly, but the opposite is also true. A terrible idea is brought to light when expressed in an equally succinct manner.  So you may ask is an elevator pitch really important? Really, it is.

Most importantly understand the elevator pitch is not about you, but your business and what it can do to solve a need. Practice, practice and practice your elevator pitch until it rolls off your tongue making your delivery sound natural. The adage we never receive a second chance to make a good first impression is especially true when delivering your elevator pitch. Make a great first impression!

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January 8, 2011 Posted by | Entrepreneur | , , , , , , , | 6 Comments

Entrepreneurs – Keep the “WELL” full!


There is a saying, “Don’t wait until you are thirsty before going to the well”. Unfortunately, entrepreneurs, when starting a business often lose sight of their current business relationships and ignore networking to develop new ones. As the saying above indicates, you should not neglect your network of business relationships. It is critical to your success and your business success to keep active in your industry, and community.

You are excited about your new venture. This is understandable. However, in your excitement to launch a business you must not forget to keep attending networking events. Take someone new to lunch. Not just once a month, but several times a week. Networking is as much of launching and sustaining your business as is building a web site, but often overlooked.

An article that illustrates this very point is http://tiny.cc/islua. This site underscores the necessity to stay connected and gives you guidance on how to continue networking.

 

November 29, 2010 Posted by | Entrepreneur | , , , , , | 1 Comment