You meet a potential investor. They ask, “Tell me about your company?”
You’re put on the spot. What do you say? You have to prepare for this situation, and have that elevator pitch in your pocket.
Perfecting your elevator pitch can be defined as a development of any short pitch that markets you, your business or a company in the shortest period of time. You never know when you’ll have the opportunity to pitch your business to a potential investor. Your pitch needs to concise, convincing and memorable to lure a potential investor to write that check.
Meaning, you must have present a resounding value proposition in 30 seconds or less. When the pitch is written on paper, this results to roughly 90 words.
Know Yourself Together with Your Audience
This is always vital in every situation. Before you think of approaching anyone for anything or for an offer you need to have a clear understanding of what you are, what you are offering, the benefits of whatever you are offering either long-term or short-term, the challenges that come with your products or offer and how you are best prepared to dealing with those challenges. You should be able to define the positives and negatives that may come from the person or company you are approaching and if they are the right targets for your products or services.
In perfecting your elevator pitch, it is best to conduct a thorough research of your audience basing on the kind of products or services you are offering. This helps you to know if they are the right audience and or potential consumers of your products or services. It also helps you to determine the best way to approach the particular audience.
Have an Outlined Talk and Avoid Contradictions
If possible note down the points you wish to include in your talk. The points should include:
Who you are?
What your expectations are?
What problems are you solving?
What contributions you can make to your target audience or company?
What you offer as an individual or a company?
While conducting your pitch avoid any information that may contradict what you earlier stated as this may lead to the audience losing trust in your product or service.
Be Concise, Fluent and Tell it as a Story
Being a pitch that is delivered in the shortest time possible, endeavor to be as succinct as possible, but ensure you capture all the vital information in your pitch. When it becomes a lengthy pitch, the timeframe may elapse before you cover all the information therefore a lot may be omitted.
You also need to use a simple language that is easily understood by your audience. Avoid use of complex wording as this may take a lot of time for the person to fully comprehend. This involves use of simple structured sentences that are easy to understand.
Learn the art of speaking at a relatively fast speed while at the same time with a convincing language so that you can easily capture your audience’s interest.
You should make the talk friendly, say everything as you are reciting a story, this will capture the subjects interest. It will also help you state out clearly your accomplishments and future prospects. The story will also prompt the listener to ask you for more information or spare you more time.
After delivering your pitch fully, ensure to leave a contact either address or phone number. This is useful mostly for follow-up purposes in case you may have arranged for a meeting with the subject. It may also be useful in case the subject needs to confirm anything from you later.