how to create an elevator pitch so in the world of business an elevator pitch
the world of business an elevator pitch
the world of business an elevator pitch is usually used for investors we’re
is usually used for investors we’re
is usually used for investors we’re trying to get them to sign up with your
trying to get them to sign up with your
trying to get them to sign up with your company and the idea is you’re getting
company and the idea is you’re getting
company and the idea is you’re getting on the top floor of a building with the
on the top floor of a building with the
on the top floor of a building with the investor and by the time you’re on the
investor and by the time you’re on the
investor and by the time you’re on the elevator you get to the ground floor
elevator you get to the ground floor
elevator you get to the ground floor you’ve convinced them that they want to
you’ve convinced them that they want to
you’ve convinced them that they want to learn more about your business so this
learn more about your business so this
learn more about your business so this what’s called an elevator pitch and
what’s called an elevator pitch and
what’s called an elevator pitch and usually have about a minute to be able
usually have about a minute to be able
usually have about a minute to be able to talk about your company and get
to talk about your company and get
to talk about your company and get somebody excited the biggest challenge
somebody excited the biggest challenge
somebody excited the biggest challenge here is being able to quickly convey to
here is being able to quickly convey to
here is being able to quickly convey to somebody the value of your business
somebody the value of your business
somebody the value of your business so that they want to learn more and a
so that they want to learn more and a
so that they want to learn more and a lot of entrepreneurs have a hard time
lot of entrepreneurs have a hard time
lot of entrepreneurs have a hard time being able to be concise and use
being able to be concise and use
being able to be concise and use language that moves people to action and
language that moves people to action and
language that moves people to action and make some quickly understand what your
make some quickly understand what your
make some quickly understand what your company is all about it’s not a great
company is all about it’s not a great
company is all about it’s not a great question on YouTube from a reader I are
question on YouTube from a reader I are
question on YouTube from a reader I are born or Ranger 89 who is working on the
born or Ranger 89 who is working on the
born or Ranger 89 who is working on the elevator pitch tries to get it under one
elevator pitch tries to get it under one
elevator pitch tries to get it under one minute and he says I’m worried that I’m
minute and he says I’m worried that I’m
minute and he says I’m worried that I’m speaking too quickly and that people
speaking too quickly and that people
speaking too quickly and that people won’t understand him and how much over a
won’t understand him and how much over a
won’t understand him and how much over a minute can I go so in most circles the
minute can I go so in most circles the
minute can I go so in most circles the one-minute limit is not a hard rule the
one-minute limit is not a hard rule the
one-minute limit is not a hard rule the only difference would be if you’re going
only difference would be if you’re going
only difference would be if you’re going to some kind of competition and they’re
to some kind of competition and they’re
to some kind of competition and they’re timing you and you’ve got to do it in a
timing you and you’ve got to do it in a
timing you and you’ve got to do it in a minute the challenge though is I still
minute the challenge though is I still
minute the challenge though is I still encourage you to try to get it under a
encourage you to try to get it under a
encourage you to try to get it under a minute and not by speaking faster
minute and not by speaking faster
minute and not by speaking faster because by speaking faster people aren’t
because by speaking faster people aren’t
because by speaking faster people aren’t going to understand what you’re doing
going to understand what you’re doing
going to understand what you’re doing it’s focusing in on not sharing every
it’s focusing in on not sharing every
it’s focusing in on not sharing every little detail about your business but
little detail about your business but
little detail about your business but trying to get them to understand at a
trying to get them to understand at a
trying to get them to understand at a high level what you’re all about what
high level what you’re all about what
high level what you’re all about what the opportunity is and why they should
the opportunity is and why they should
the opportunity is and why they should care and want to take the next step with
care and want to take the next step with
care and want to take the next step with you from there you’ll get into more
you from there you’ll get into more
you from there you’ll get into more questions and due diligence and a whole
questions and due diligence and a whole
questions and due diligence and a whole lengthy process where you can answer
lengthy process where you can answer
lengthy process where you can answer their questions but you have to tease
their questions but you have to tease
their questions but you have to tease them and give them just enough
them and give them just enough
them and give them just enough information that they want to do more
information that they want to do more
information that they want to do more business with you I remember when I had
business with you I remember when I had
business with you I remember when I had my first company was a software business
my first company was a software business
my first company was a software business and I was trying to get investors I was
and I was trying to get investors I was
and I was trying to get investors I was thinking about you know who I wanted to
thinking about you know who I wanted to
thinking about you know who I wanted to bring on board and I felt like I felt
bring on board and I felt like I felt
bring on board and I felt like I felt like I had a great product I had a great
like I had a great product I had a great
like I had a great product I had a great team I was really helping people we had
team I was really helping people we had
team I was really helping people we had we had customers and were getting
we had customers and were getting
we had customers and were getting traction and I thought if I could only
traction and I thought if I could only
traction and I thought if I could only get the investor to sit down with me for
get the investor to sit down with me for
get the investor to sit down with me for an hour I can explain everything and he
an hour I can explain everything and he
an hour I can explain everything and he could help me get to the next step
could help me get to the next step
could help me get to the next step the problem is investors don’t have that
the problem is investors don’t have that
the problem is investors don’t have that kind of time right you have to take what
kind of time right you have to take what
kind of time right you have to take what might take half an hour or an hour and
might take half an hour or an hour and
might take half an hour or an hour and crunch it down into one minute enough
crunch it down into one minute enough
crunch it down into one minute enough for them to get excited about what
for them to get excited about what
for them to get excited about what you’re doing to want to contact you and
you’re doing to want to contact you and
you’re doing to want to contact you and take it to the next step and usually
take it to the next step and usually
take it to the next step and usually what will help make the difference and
what will help make the difference and
what will help make the difference and after my first business I went into the
after my first business I went into the
after my first business I went into the VC world so I I saw from the other side
VC world so I I saw from the other side
VC world so I I saw from the other side is show that you first have something
is show that you first have something
is show that you first have something but then show that you have some
but then show that you have some
but then show that you have some momentum because the biggest difference
momentum because the biggest difference
momentum because the biggest difference between people who are just pitching an
between people who are just pitching an
between people who are just pitching an idea and people who actually get funding
idea and people who actually get funding
idea and people who actually get funding is having some real momentum with your
is having some real momentum with your
is having some real momentum with your business okay so you have somebody on
business okay so you have somebody on
business okay so you have somebody on your Board of Advisors or you’ve
your Board of Advisors or you’ve
your Board of Advisors or you’ve actually made a sale right just having a
actually made a sale right just having a
actually made a sale right just having a little bit of revenue not not a ton a
little bit of revenue not not a ton a
little bit of revenue not not a ton a little bit already separates you from
little bit already separates you from
little bit already separates you from 90% of the other companies or plus okay
90% of the other companies or plus okay
90% of the other companies or plus okay you’ve been in the media you have some
you’ve been in the media you have some
you’ve been in the media you have some kind of traction somewhere show that
kind of traction somewhere show that
kind of traction somewhere show that it’s not just an idea that people are
it’s not just an idea that people are
it’s not just an idea that people are genuinely interested and need this thing
genuinely interested and need this thing
genuinely interested and need this thing don’t focus so much on the technology
don’t focus so much on the technology
don’t focus so much on the technology all the VC cares about is that this
all the VC cares about is that this
all the VC cares about is that this thing can grow so you’re in a space that
thing can grow so you’re in a space that
thing can grow so you’re in a space that that is growing and there’s a potential
that is growing and there’s a potential
that is growing and there’s a potential to make money but they don’t care about
to make money but they don’t care about
to make money but they don’t care about what the technology does not in the
what the technology does not in the
what the technology does not in the first meeting they want to see there’s
first meeting they want to see there’s
first meeting they want to see there’s an opportunity that you have momentum
an opportunity that you have momentum
an opportunity that you have momentum and that you know what you’re talking
and that you know what you’re talking
and that you know what you’re talking about
about
about that shouldn’t take more than a minute
that shouldn’t take more than a minute
that shouldn’t take more than a minute to get through practice in the VC world
to get through practice in the VC world
to get through practice in the VC world we used to call the grandmother test
we used to call the grandmother test
we used to call the grandmother test does your pitch pass the grandmother
does your pitch pass the grandmother
does your pitch pass the grandmother test and that’s where it’s simple enough
test and that’s where it’s simple enough
test and that’s where it’s simple enough that your grandmother could understand
that your grandmother could understand
that your grandmother could understand it remember that investors are not
it remember that investors are not
it remember that investors are not experts in your industry okay they are
experts in your industry okay they are
experts in your industry okay they are generalists they understand the finances
generalists they understand the finances
generalists they understand the finances side really well but in terms of
side really well but in terms of
side really well but in terms of Industry specific they’re a generalist
Industry specific they’re a generalist
Industry specific they’re a generalist they know a little bit about a lot of
they know a little bit about a lot of
they know a little bit about a lot of industries they don’t know your business
industries they don’t know your business
industries they don’t know your business as well as you do so you need to be able
as well as you do so you need to be able
as well as you do so you need to be able to create a pitch that is not full of
to create a pitch that is not full of
to create a pitch that is not full of jargon that’s not full of short short
jargon that’s not full of short short
jargon that’s not full of short short terms or abbreviations something that
terms or abbreviations something that
terms or abbreviations something that makes sense for an outsider like your
makes sense for an outsider like your
makes sense for an outsider like your grandmother to look at it and understand
grandmother to look at it and understand
grandmother to look at it and understand what you’re doing but I would highly
what you’re doing but I would highly
what you’re doing but I would highly encourage you to still try to keep it
encourage you to still try to keep it
encourage you to still try to keep it under a minute and not worry if it’s 58
under a minute and not worry if it’s 58
under a minute and not worry if it’s 58 seconds or a minute five most of the
seconds or a minute five most of the
seconds or a minute five most of the time they won’t actually time you but
time they won’t actually time you but
time they won’t actually time you but it’s more for your own your own skill
it’s more for your own your own skill
it’s more for your own your own skill set and for you to be able to get a
set and for you to be able to get a
set and for you to be able to get a powerful result to be able to practice
powerful result to be able to practice
powerful result to be able to practice getting everything down really tightly
getting everything down really tightly
getting everything down really tightly just to arouse curiosity and this goes
just to arouse curiosity and this goes
just to arouse curiosity and this goes for everything this isn’t just your
for everything this isn’t just your
for everything this isn’t just your elevator pitch this is any communication
elevator pitch this is any communication
elevator pitch this is any communication you’re doing with people it’s your pitch
you’re doing with people it’s your pitch
you’re doing with people it’s your pitch to the media it’s your website homepage
to the media it’s your website homepage
to the media it’s your website homepage it’s your sales letter it’s all the
it’s your sales letter it’s all the
it’s your sales letter it’s all the marketing copy you use everything you do
marketing copy you use everything you do
marketing copy you use everything you do you have to be able to quickly get your
you have to be able to quickly get your
you have to be able to quickly get your point across and use as few words as
point across and use as few words as
point across and use as few words as possible to have an impact and lead
possible to have an impact and lead
possible to have an impact and lead people to action good luck with your
people to action good luck with your
people to action good luck with your project if you have more questions let
project if you have more questions let
project if you have more questions let me know I’m excited for you and I hope
me know I’m excited for you and I hope
me know I’m excited for you and I hope that you will believe for those of you
that you will believe for those of you
that you will believe for those of you watching you like the video please give
watching you like the video please give
watching you like the video please give it a thumbs up it makes you want to do
it a thumbs up it makes you want to do
it a thumbs up it makes you want to do more for you and let me know what you
more for you and let me know what you
more for you and let me know what you have to think leave a question
have to think leave a question
have to think leave a question underneath leave a comment below I’ll
underneath leave a comment below I’ll
underneath leave a comment below I’ll make a video response thank you so much
make a video response thank you so much
make a video response thank you so much and I’ll see you soon
”
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