Q 255. It takes just 2 minutes to effectively put your ideas through. What is an elevator pitch and how should one be prepared for it?

 

 

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#KeepItSimple

 

If you have got the Bright idea, you have to cash it to get it go.

Elevator pitch is the term used for less than 2-minute presentation, the time it takes to go from Lobby to the office floor, used to catch the attention and interest of the sponsor.  

 

Points to remember:

Keep it simple and put it effortless and natural

No need to close the deal in the elevator pitch, it’s all about grabbing interest

Keep it ready, set and prepared

 

Below are 10 Do's and Don’ts that can keep your pitch SMART.  

Do's:

• First and Foremost, Practice your presentation
• Start the pitch with a Vibrant Compelling Hook
• Be Positive
• Structure your USP
• Be confident
• Do take it slowly
• Have Data/Numbers to back your idea
• Maintain eye contact
• Have a quick takeaway point 
• Keep it to a minute or less

 

Don'ts:

• Don't be too fast
• Don't use Jargon/acronyms that might get you off track
• Don't focus just on yourself
• Don't hesitate to update your speech as the situation changes
• Don't be robotic (monotone way) or sound that you have memorized
• Don’t oversell or undersell
• Don't sound too salesy
• Don't restrict to a single pitch, have different versions
• Don't wrap up early if your listener is more interested or their eye's glazing over
• Finally, don't forget to say "Nice to Meet you"

End lines, referring to the quotes from great physicist 

 

Quote

"If you can't explain it simply,

you don't understand it well enough" - Einstein

 

An elevator pitch describes the overview of a business in a very short time, the time it takes to complete an elevator ride, from 30 secs-up to 2 minutes and  up to 80-90 word pitch. An elevator pitch  may not include all the intrinsic components, but gives a vivid description of  an idea, company, product, person. It  is a very simple, yet quite effective marketing tool, especially for small businesses. Knowing the audience or market niche  is an important pre-requisite for elevator pitch

 

The important aspects of elevator pitch are:

 

§  Brief Introduction

§  Mission statement and activities of business

§  Value offered and problem solving ability

§  Unique selling proposition (USP) and difference from competitors

§  Asking a question to business leads about business/offering, e. g - in networking events

§  Giving a call for action- providing means for follow up or further contact.

 

.Advantages of elevator pitch:

 

·      Simple and convenient and can be prepared  in short time, without much preparation.

·      The information is in a simplified way, explains all the salient aspects and sparks interest to the listeners.

 

 

An elevator Pitch or elevator speech is a quick & effective introduction of one’s background and experience. It is called as elevator Pitch as it should be short enough to present during a small elevator ride. Elevator Speech is all about you, who you are and What you want to share your expertise and credentials quickly and effectively with the people who don’t know you.

Elevator Pitch or elevator speech can be used at Job interviews, Marketing of new products ,Sales, job Fairs and career expos, Seminars, etc.

 

How to prepare:

 

1-Your Elevator speech must be brief:

            Brief the speech to 1 to 2 minute. Need not to include the entire work history and career objectives. It should be short recap of who you are, what you do and skills you have.

 

2-You need to be persuasive:

            Elevator speech should be compelling enough to spark the listener’s interest in you, your skills and your background.

 

3-Share your skills:

            Elevator speech be focussed on assets that can add value to organization.

 

4-Practice:

            The best way to become confident to present an elevator speech is practising it until the speech and pitch come naturally.

 

5-Be Positive and flexible:

            Always be Positive and flexible as you are not often interviewing for a specific position when you present an elevator speech. Never include the stuff you are not supposed to do or not going to do. “First impression is the last impression”. So this is the chance where you can make a spark in the listener’s mind.

 

6-Mention Your goals:

            Don’t be too specific and an overly targeted goal does not work since your pitch can be used many circumstances. But always add what are you looking for.

 

7-Know your audience:

            Using jargons can be a good move , it demonstrates your knowledge in the industry. But remember to whom you are speaking, listeners may not be aware of those critical words. So keep it simple and focused.

 

8-Have a business card ready:

            Always keep your business card ready and offer it at the end of conversation. If you don’t have a business card then you should use your smartphone to share contact details.

 

Don’ts of presenting elevator speech:

 

1-Don’t speak too fast:

            You have a lot of information to convey during an elevator speech but don’t speak quickly to overcome this dilemma. This will make listeners hard to absorb the information.

 

2-Avoid rambling:

            You don’t want to have unfocused and unclear statements in your pitch or get off track. Give the opportunity to the listener to respond and interject.

 

3-Don’t speak in a monotone way:

            Keep your energy high, be confident and enthusiastic. And focus on how you are carrying yourself rather than using the exact words you want to use. Keep your facial expressions friendly and smile on face.

 

4-Don’t speak in a single elevator pitch:

            Prepare your elevator pitch according to the person you are talking with. You may also want to have a casual, personal pitch prepared for social settings.

 

 Few examples for reference:

        

    Use below examples as guidelines in preparing your elevator pitch. Make sure your elevator speech includes details on background as well as your goal.

 

·         My name is Rajat, I graduated with a degree in mechanical engineering. I have an overall experience of 8 years working with auto electrical companies as an engineer and I’m looking for a job that will put my skills as a manger to work.

 

·         I have a decade’s worth of experience in Quality department. Working primarily with large auto firms like Ashok Leyland and Mahindra. If your company is ever in need of a unit head, I’d be thrilled to consult.

 

·         I create websites and brands. My passion is to come up with innovative and creative ways to express an idea and drawing the illustrations that people share on social media.

Elevator pitch is a short prepared speech that succinctly explains what you want to convey, when time is short. It is brief and persuasive to effectively generate interest in the target audience. It is often used to create interest on a project, idea, kind of foot into the door.

 

It is most often associated with sales, with a salesman wanting to generate interest with a client - business or consumer. Often key executives are always short on time and inbetween meetings. Elevator pitches are key for making the best use of any opening you get with such executives. 

It is applicable in interviews, where as they say the first impression is the best impression. The first pitch should interest the interviewers to continue conversation that ultimately leads to the job offer.

 

Elevator pitch needs to be prepared carefully and tested a few time with known people. First you need to be clear on the purpose and what you want to sell. Then you start articulating it with what you do, your usp and how. You always end it with a "Call to Action" (like ask for anything on how client's current activities are, or ask for a followup meeting etc). Be prepared to counter/ respond to any key questions from your clients.

 

Elevator pitch is not just about the speech. It’s a package of how you are dressed up, body language, gauging the mood of the recepeint etc.

 

It takes a lot of practice to make it perfect. But the key thing is that, as you move up, you find that a lot of times, you get to meet Senior Execs and need to make an immediate impact.

While all responses are valid and aceptable, well articulated 10 Do's and Don'ts have made Mohamed Asif the winner this time.