3 Techniques to Loan Your Small Business Elevator Pitch More Punch
An elevator pitch doesn’t always mean a pitch used to attract investors. It can also be used as a way of summarizing the core aspects of your business to channel partners, prospective employees, other business owners and anyone who would like to know more about what makes your business unique. Having an elevator pitch that is finely tuned that you can take out at the drop of a hat is a handy trick for any type of small business owner, and is good practice for the times that you will need to convey a favorable impression of your business and it really matters. What makes a good elevator pitch? Just like a good pitch deck, there are a few areas that should be optimized as a general rule, allowing you to quickly address the main points that will loan your pitch a professional and believable narrative.
Write a page summarizing your small business, then edit that page down to a paragraph. One of the keys to the editing process is taking a large amount of information and turning it into an information dense nugget of pure value, where not a word is wasted or out of place. This is a good exercise to help you determine the most crucial aspects of your business. You are going to start out looking at the page thinking that there is nothing you can get rid of. Force yourself to strip away all but the most important details of your business. Like a lump of coal being turned into a diamond through tremendous pressure, so will your business’s description become clear and solid through intense refinement.
Include the essential facts that prove your business’s viability. It’s all well and good to promise the world, but until you can point to some real figures proving that your business can deliver, it’s all just fluff. At the very minimum, include the demographics that your business appeals to as well as some information on the size of the market share that you expect to tap into. Questions surrounding the profit creating capacity of a business are going to be at the forefront of what those who wish to know more about your operations are concerned with, so if you can assuage their doubts with some hard facts and figures, that will benefit the over all impact of your pitch tremendously.
Leave them wanting to know more. While your pitch should condense as much engaging detail as possible into a condensed format, it is never going to be able to give every interesting detail of your business into a single presentation. For this reason, you need to ensure that your pitch is able to generate enough interest from those who hear it that they actually desire to follow up with you. Leave them with a follow up question, or another reason to want to continue the narrative that you started with your elevator pitch. Remember, you are not just trying to impress people, you are trying to get them to follow up your pitch with action and the best way to ensure action is with a call to action. Even simply connecting on LinkedIn can lay the foundations for future business down the road.
Photo Credit to Nayeem KALAM on Flickr