1 / 11

The Elevator Pitch

The Elevator Pitch. Pitching in 30 – 120 Seconds. What is an Elevator Pitch? Context of Entrepreneurship. A business-oriented , purposeful verbal message as fast as a ride in an elevator (30 -120 seconds) in understandable language – also for technology areas

Download Presentation

The Elevator Pitch

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.


Presentation Transcript

  1. The Elevator Pitch Pitching in 30 – 120 Seconds

  2. What is an Elevator Pitch?Context of Entrepreneurship • A business-oriented, purposeful verbal message as fast as a ride in an elevator (30 -120 seconds) in understandable language– also for technology areas • A concise, carefully planned, and well-practiced “answer” about yourself, your business, your firm, your project etc. • A situation with an opportunity to sell your company’s identity and set yourself apart from other entrepreneurs W. Runge 04/2008

  3. What is an Elevator Pitch?Business Plan Context Elevator Pitch: a back-of-the-envelope business plan Elevator Pitch: • The problem (need) you are going to solve (satisfy) • Your solution, your answer • Your value proposition 20 Minute Business Plan Presentation W. Runge 04/2008

  4. Elevator Pitch Situations • All conceivable constellations to initiate linking investors (backers; “sponsors”, decision makers) and entrepreneurs (intrapreneurs) • (A startup) searching for financial backing or cooperation partners • Meeting someone (accidentally or intentionally) at … • Competence Network Partnering-Events • In firms: Meeting a “big boy” in the canteen, plane, in the lobby of an airport, … W. Runge 04/2008

  5. You only have one chance to make a first impression! W. Runge 04/2008

  6. Approach • Give people a “hook” by talking about something that really interests them • It must be succinct, to the point • Focus on one simple message • Make it simple and easy for people to contact you after the pitch –give them an incentive to seek you out • For investors: It must be greed inducing(inducing expectations of big profits) W. Runge 04/2008

  7. Presenting: The Rule of Three • The “Hook" Get attention andinterest • The SubjectExplains and provesyour point with passion (investors expect energyand dedication from entrepreneurs) • Should induce desire (“greed inducing”) • Use the Concept Summary as a framework    • The CloseCall to action or demand for reaction AIDA! W. Runge 04/2008

  8. An Elevator Pitch Template • WHAT you do • WHOM you serve • HOW you deliver • BENEFIT(S) for clients EXAMPLE (“What are you doing?”): • "I [WHAT: helping verb] [WHO: target market/ideal customer] [_______] [_______] [_______] [_______] • [HOW: deliver what the customer wants] [BENEFIT: key benefit or wanted result]" W. Runge 04/2008

  9. USP Template: Wording USP (Unique Selling Proposition) – Template: • Sentence #1 For (target customer)who (statement of the need or opportunity),the (product/service name) is a (product/service category)that (statement of benefit). • Sentence #2 Unlike (primary competitive alternative),our product (statement of primary differentiation). W. Runge 04/2008 Slide 9.23; Ref. Dorf & Byers, p. 250

  10. USP/Elevator Pitch: Other Uses • If the startup/NTBF is launched and has a Web site, a USP should appear on the firm’s Web site under the headings • Home, • Company or • About W. Runge 04/2008

  11. Call to Action • Based on provided material create and present an elevator pitch Based on the template (Slide 8) • One lasting 30 (- 45) seconds • One lasting 120 (-150) seconds(start with this one and boil it down) Based on the USP-approach (Slide 9) • one lasting 100-150 seconds W. Runge 04/2008

More Related