The elevator picht or elevator speech is one of the most important tools for an entrepreneur when selling or projecting his business idea, you never know when you could find the perfect client so that your venture has the takeoff you have always expected, or with the investor you need to expand your business so it is always better to be prepared.
Imagine that you enter an elevator and next to you enters an investor, a man with all the money you need to develop your venture, or the perfect client for your product to achieve expansion in the market, it is the opportunity of your life but only You have a few seconds, the short time it takes for an elevator ride to be able to impact it with the presentation of your venture or product, what would you say? How would you capture their attention?
You must bear in mind that the objective of an elevator pitch is not directly to sell but to generate the interest of your interlocutor with clear, precise and synthesized ideas of your undertaking to position first the image of your company and then that of your product for the future Immediately generate an interview or meeting that allows you to thoroughly explain what the project is about and be able to do business.
Below I will guide you in 3 simple steps to achieve a good Pitch that allows you to be clear, precise and fast when presenting it.
1.- Define your target audience and define their problem.
Establish key answers to questions such as:
What is my audience?
What need am I going to satisfy?
How am I going to satisfy that need?
2.- Develop the solution with your Value proposition.
It proposes solutions based on:
Your experience
Your knowledge
Initial Resources
Resources you need
How will you carry your project to success?
3.- Explain your business model.
Explain clearly what is attractive about your project and why they should invest with you and not with another entrepreneur.
How are you going to earn money?
How will investors get their money back?
In what time will they recover it?
Why will your project be a success?
Once the elevator pitch is established, it's time to put it into practice for your presentation. It is very important to rehearse it as many times as necessary, always controlling the time it takes to explain it with the essential information to awaken the interest of your interlocutor, practice everything you need but do not memorize it, try to explain it always showing naturalness without leaving the key ideas and the structure of your elevator pitch.
It is necessary to consider several factors that can make an investor uncomfortable when presenting a pitch and it is very important to take them into account so as not to fail in our presentations, the insistence in the case of obtaining a negative response, the handling of objections, many times the Investors can test your ability to handle objections and then be able to give you an answer.
You must be patient and if the answer is no, look for other options, check your elevator pitch, analyze it from different angles and determine what might have gone wrong, or if it just wasn't the right investor for your project.
Leave the detail figures for a later meeting within the pitch.You should only handle the necessary figures to capture the attention of your interlocutor and something very important do not try to surprise an investor with too exaggerated figures remember that he has more experience in this field and your Figures will not show credibility.
With these three simple steps that I have outlined to you, you have the necessary tools to attract the attention of an investor and manage to take your startup to the path of success.
