ONE OF THE MOST important tasks that a new business owner can do is to talk about the aspects of his or her business. An “elevator pitch” is a very brief holistic explanation of your company or idea, coupled with the benefits and opportunities, all tied into not more than 1-2 sentences. The elevator pitch got its name from when a hopeful employee or entrepreneur would find himself sharing an elevator with a high ranking member of a company. Basically, the sales person only had until the elevator got to the top floor (where the high ranking individual worked) to convince said high ranking individual to invest time, money, or attention into his or her idea. 

The elevator pitch is not only important for business meetings, but also for networking opportunities.  Ever been asked, “So, what do you do?”  This is where a perfectly prepared elevator pitch makes its money. Thus, it is important for the individual to have a perfect elevator pitch so as to concisely convince other people of the superiority of their business.  Consequently, it is important for the individual to consider a number of aspects.  

For starters, it is important to be specific.  An elevator pitch provides an opportunity for the individual to sell himself or herself.  To this end, the individual should go straight to the point and talk about aspects of his or her business that the listening party will be interested in.

The second aspect of an effective elevator pitch is that it should have different versions.  It is important to give a natural elevator pitch. While we all like to watch robots dance, we don’t like to listen to them talk. It is prudent for you to have multiple versions of your elevator pitch.  This will enable you to present the elevator pitch to various audiences at various times.  

Thirdly, while delivering an elevator pitch, it is prudent to note that it’s not all about you.  You should consider the audience to which you are delivering the elevator pitch.  An elevator pitch seeks to persuade individuals, which means that it should be directed at why they should care.

To this end, it is imperative for you to put yourself in the audience’s shoes.  It is also important for you to end with a request while delivering an elevator pitch.  Delivering an elevator pitch entails a lot of persuasion; you will not get what you want unless you ask for it. Ending an elevator pitch with a request is bound to deliver the message home.  People are increasingly on the lookout for fresh ideas. Dynamism of business ensures that individuals are creative.

No one can understand your business as well as you can.  Consequently, keeping abreast with current ideas is very important.  It is prudent for you to set yourself apart from competition.  Moreover, it is imperative for you to speak about the quality of the goods and services provided by your business.  In addition, it is imperative for you to understand the nature of your audience.  Distinguishing the audience enables the person to tailor the elevator pitch to its needs.

A perfect elevator pitch should sound something like this (with penitent confidence): “Sir/Ma’am, my name is Brad Ayala and I am the owner of Ayala Widgets. I have studied your current widgets and can deliver a superior widget at 22% below what it costs you to produce them; no catch—I’m a small company with smaller overhead, but I have the ability to produce as much as you need and deliver when you need it. May I follow you out of this elevator to your office and tell you more about how Ayala Widgets can have a dramatic positive impact to your bottom line?” If he says, ‘no,’ ask for an appointment to come back. If he says ‘no’ again, thank him gratefully for his time and stop pushing the issue. Anyone who isn’t willing to hear out a 22% savings proposal is an idiot and you don’t want to do business with them anyway. Chances are, however, even if your prospect says ‘no,’ don’t be surprised if someone from his or her office contacts you at some point down the line. It’s not uncommon for corporate brass to have a personal policy about not deviating from a schedule unexpectedly. So if you get a ‘no,’ all hope is not lost.  

A final important aspect that you should keep in mind is the issue of preparation.  You should be prepared to pitch at all times because you never know when the opportunity will arise. A prepared pitch will enable you to gain more confidence and deliver your pitch to the right person, in the right way, at the right time. Don’t expect to be perfect the first time you deliver it. Like anything else in business, it takes practice and refining.