An Elevator pitch takes two minutes or less. You need to sum up everything in a few short paragraphs, nothing more. Selling the complexity of your entire startup idea in the time it takes to brush your teeth isn’t easy, even for some of the greatest minds. The first time George Lucas pitched the idea that would later become Star Wars, the producer handed him a copy of Joseph Campbell, told him to read it, and come back later.
So then how do you do it in the business world? How do you filter all of your exciting ideas into one clear vision? There are whole educational courses set up around doing this effectively, helping you learn how to act and what to say in the space of two minutes, but you need some guidance now. This article will serve as a brief guide to the whole process and help to make the idea of an elevator pitch seem a little less daunting. Before diving into this article, make sure you double check the basics of pitching here.
Offer your investor the opportunity directly, and phrase it accordingly, not problem and solution. They want to make money, and you’ve discovered a way they can do it; you don’t want them to have to ask.
Don’t sell your investors on a dream. Have your business model ready. Be precise when describing your idea. Have your terminology ready. Being specific goes right into #3 …
Tell them how much you need from them. Tell them exactly what you’ll do. Tell them what you’ve already accomplished. Tell them the things you hope to accomplish … all, of course, in the most succinct organized fashion possible. Proverbially speaking, “No bells and whistles. Just get down to business.”
They’re going to have questions when you’re finished. And if you’ve done your pitch well, they’ll be asking the questions you want them to, questions about the finer points of your idea. Be ready to answer and discuss the questions they’ll have.