What is an Elevator Pitch?
It is your 5-10 word statement on your business and is most often used when someone asks you the stock standard question “what do you do?” The biggest mistake most people make is they respond too literal when asked this question. They respond by saying “I’m an accountant, I’m a web designer, I’m a chef”. Not exciting! Instead you should be saying, if you are an accountant, “I make my clients ridiculously wealthy or I dramatically reduce people’s tax bills!”
A pitch is often referred to as your ‘elevator’ pitch. Imagine you’re in an elevator with a potential client and you have 30-60 seconds to tell that person about yourself and your business. Most elevator pitches are too long, miss the mark, and are often product features instead of business benefits.
Your elevator pitch must cover 9 key criteria. I heard of this technique from Chris O’Leary in his book ‘Elevator Pitch Essentials – How to Craft an Effective Elevator Pitch’. Here is a summary of the 9 key criteria that Chris calls ‘The 9 C’s’:
1. Concise – An effective elevator pitch contains as few words as possible, but no fewer.
2. Clear - Rather than being filled with acronyms, MBA-speak, and ten-dollar words, an effective elevator pitch can be understood by your grandparents, your spouse, and your children.
3. Compelling – An effective elevator pitch explains the problem your Solution solves.
4. Credible – An effective elevator pitch explains why you are qualified to see the problem and to build your Solution.
5. Conceptual – An effective elevator pitch stays at a fairly high level and does not go into too much unnecessary detail.
6. Concrete - As much as is possible, an effective elevator pitch is also specific and tangible.
7. Consistent – Every version of an effective elevator pitch conveys the same basic message.
8. Customized – An effective elevator pitch addresses the specific interests and concerns of the audience
9. Conversational – Rather than being to close the deal, the goal of an elevator pitch is to just set the hook; to start a conversation, or dialogue, with the audience.
For example, here is my elevator pitch: “ I teach people how to Create Wealth Online promoting Gold and Silver using video marketing.
Okay, so how did I come up with my ‘perfect pitch’? Here is the strategy I used:
Step 1: Brainstorm
Brainstorm a list of phrases that describe you and cross off any clichés or catch phrases. Keep only the most unique and honest statements.
Step 2: Craft a description
Write the pitch like you speak. This will make it easier to deliver and make it sound more authentic.
Step 3: Practice!
Practice your pitch on friends and family. Ask for feedback and adjust your pitch. It will become natural by doing it over and over. Use a mirror to pitch yourself. If you can’t look yourself in the eye, how can you engage someone else?
Step 4: Plaster it everywhere
You want to make sure that all your communication messages contain your pitch, including the following:
• Email footer
• Business cards
• Social media profiles
• In person
• Staff training and handbook
Now it’s your turn! Take these steps and apply them to your business. It may seem a little daunting to start with but once you start, you’ll get on a roll and before you know it; your pitch will be rolling off your tongue with charisma, confidence and clarity.
Feel free to tell us your “Elevator Pitch” below.Thanks for commenting!