Five Steps to a Good Elevator Pitch

The notion that a great idea will sell itself is bollocks. In fact, there are several instances where a passionate pitch can make up for a lackluster concept. One should also note that in today’s fast paced world, people have less time, especially for strangers. Enter the elevator pitch.

Developing your elevator pitch is a crucial discipline in the promotion of your concept. On the phone, in the hallways, in a busy VP’s office …you will rarely have more than 30 seconds to bait them with your idea and leave an impression. If you are unable to construct a compellingly simple presentation, your chances of moving your idea from a concept into the real world drop swiftly.

Here’s how to structure an elevator pitch within five basic components:

1. Bait your target with your “hook”. In one sentence, explain your idea and how it solves a specific problem. In order to elicit the best response, avoid buzz words and communicate on a personal level.

2. Elaborate on the hook. Go into a little more detail about what the concept is and how it could roll out.

3. Broaden your scope. Talk about the issue your idea addresses and how it can be applied to across the board to generate large revenues/savings/brand impact.

4. Acknowledge the current context. State how your idea tackles the need differently than the current method.

5. Close by reiterating the hook. In a personal way, remind your target of what the concept is and why it works.

I highly suggest writing your elevator pitch down. It forces you to put all of your ideas on paper and better prepares you for a quick pitch scenario. The written pitch should be no more than 150 words. Good luck.

Superman’s Elevator Pitch

- Christian

Source: inventorspot.com