More resources:
- 15 elevator pitch examples: How to write your business pitch
- How to get funding for a business: 13 vetted ways for 2024
Video Transcript:
“Today, I'm going to teach you how to craft an elevator pitch that'll take your business to the next level. But before we get started, hit like and subscribe to see the rest of our series. Ready, set, goals! And, if you like to read, check out the article below called "How to Write an Elevator Pitch."
So, what's with the name and what is an elevator pitch? It's a speech to sell your brand, your product, or yourself, and it should be quick - so quick that you can recite it in an elevator ride. You know, those incredibly awkward ones with strangers where you're not sure where to look or what to do with your hands. The elevator pitch version of the elevator pitch is this: It should describe your business and the goals you want to achieve.
It's great for networking, trying to win over investors, or attracting customers. But, I'm getting ahead of myself. Thankfully, we have more than 30 seconds on this video, so let's take this step by step - not literally, of course - to show you how it's done. We're going to look at it through the lens of a hypothetical business called "Laura's Landscapers." Let's ride!
First step in crafting your elevator pitch is identifying a problem. At Laura's Landscapers, for example, we discovered there isn't a reliable, eco-friendly landscaping service in the Richmond area. That's a problem, and what's our solution? To change the face of Richmond through sustainable landscaping practices and help Richmond homeowners create the outdoor living space of their dreams.
Next, we need to let our audience know who our target market is; it gives them some context. At Laura's Landscapers, we describe our target market as Gen X and Baby Boomer homeowners with disposable income living in the Richmond area. Next, we address the competition without explicitly naming names. Yuki's Yards will lightly touch on what we know about the competition, like the fact that some people whose names rhyme with "Mookie's Mards" have no environmental certifications under their belt.
Which leads us to our team and credibility. Don't be afraid to sell your highly accomplished staff or your qualifications. Laura's Landscapers does have a few environmental certifications hanging up on the wall. We want to let our audience know that. And finally, the strategy - how are we going to get the job done? What's our plan? One strategy might heavily rely on word of mouth. So, using Google ads, showcasing positive reviews, and encouraging referrals would be our top priority.
And this last step is optional: include a financial summary. It's a good way to present your goals in a measurable way. We've arrived at the elevator pitch! It looks pretty on the page, but you're not handing out flyers. Well, I guess you could, but the best way to sell it is through presentation.
Here are some tips that will never let you down: know your environment and who you're pitching to. You might need to tweak your pitch based on the audience. Rehearse to your dog, to your friends, to that stranger in the awkward elevator ride. They might be your first investor. Anticipate objections. People are bound to question your ideas. Look at the pitch from all angles so you're ready with answers.
And an extra tip from one elevator pitcher to another (cue the earnest music, please): believe in what you're selling. The more you believe in it, the more others will, too. Wow, what a ride! Now, you're ready to sell your business faster than you can say "elevator puns," and the only place to go is up."
