Find out the five key ingredients for a killer elevator pitch.
Opportunity doesn't just knock. Sometimes it rides ... all the way to the top. Often, you're more likely to get the chance to pitch your business idea during a random elevator ride or a brief restaurant encounter than you are able to get an appointment to see the head honcho. And even if you are able to get that precious appointment, odds are you have five minutes or less to sum up your business idea. Don't be caught unprepared. Here's how to create an elevator pitch for your business.
Know your revenue streams.
Whether you're pitching to one person or a group, one of the first questions that will pop into your audience's mind is how they can make money from your business. If you can quickly communicate your revenue streams in standard, clear terms, you'll have a better chance of having your business idea be seen as economically viable.
Explain what makes your business unique.
It's all been done before, but not the way you're going to do it. That's what you need to communicate to your investor in your elevator pitch. Figure out what makes your business idea unique, then find a way to express it with passionate yet realistic terms that will entice your audience to get excited about it too.
Tell them why you're qualified.
Few people will be eager to invest in your business if you have no previous relevant experience, knowledge or education. Explain why you're uniquely qualified to get this business off the ground. If it's a team effort, mention the qualifications of your partners. This will instill confidence in your ability to bring the business to fruition.
Be clear about what you're asking for.
Without a clear request for action, your genius elevator pitch is just an informative synopsis of a business idea. Be clear about what you want from your pitch audience, ending with a specific request. Don't be afraid to ask for more than you think you'll get in terms of time, money or resources, because it's likely you'll have to negotiate down.
Make your audience feel special.
Not many people will tell you this key ingredient in an elevator pitch because it's a secret weapon. You need to make your pitch audience feel important. Make them feel like they are the only ones who hold the key to making your business idea a success. Without them, it's a no-go, or at least that's what you want them to think. Everyone has an ego, especially movers and shakers. Appeal to that ego and inherent desire to be helpful by making them feel special and powerful.
Now you have the ingredients for a business elevator pitch, how does it end up in real life? If you've done it right, ideally, the next words you'll hear are, "Tell me more."