A strong elevator pitch is an essential piece of making a great first impression for your small business. When crafted and delivered well, it can lead to new opportunities.
An elevator pitch is a short, clear introduction to yourself and your business that is 30-60 seconds long- the length of an elevator ride! Said to be originated in 1853 by elevator engineer, Elisha Otis, the elevator pitch is used to secure interviews, funds, and partnerships.
Why Create an Elevator Pitch for Your Small Business?
An elevator pitch should catch someone’s attention and welcome future opportunities. It should leave the listener with a clear picture of what your business is, why it’s special, and leave them wanting to learn more.
Networking is an integral part of growing your business’s name and your professional development. Having an elevator pitch ready to go will make it easier to start conversations and form relationships.
A strong elevator pitch also encourages professional development, builds confidence, supports your personal brand, and sets you up as an established small business.
Outside the personal benefits, there are also practical benefits to having an elevator pitch in your pocket. When applying for small business lending or appealing to a potential investor, being able to clearly communicate your business and its value is a powerful first step.
Tips for a Great Elevator Pitch
Before you start writing, it is important to identify who your audience is. If you are attending a networking event with various professionals from different fields—it may be beneficial to tailor your pitch to each individual. A touch of personalization helps make a lasting impression.
Your elevator pitch should include:
- Introduction
- Begin with a friendly greeting and include your name and the name of your business. Don’t forget to mention your years of experience.
- Summarize your business
- If you can confidently say your business is a “first” or “only” of any kind, say so—but only if you can back up that claim.
- Add any significant milestones or statistics that show your business’s growth.
- Your ask/call to action
- It is very important to be clear with your ask. This is why you are delivering your elevator pitch. An ask that is unclear or open ended may not give you the results you want. Determine what you want and ask for it!
- Examples of an ask:
- “Investing in small businesses like mine will directly bring positive impacts to our local community.”
- “A partnership with my business can reach more customers and increase sales.”
- Examples of a call to action:
- “Can we exchange contact information to discuss this further?”
- “Let’s keep this conversation going, does later this week work for you?”
- Call to action
- The goal is to pull your audience in with information that requires a subsequent discussion. Propose a meeting to go over the details with more time. Exchanging contact information is also a great next step that keeps the door open for further discussions.
Regardless of industry, the elevator pitch is an effective networking tool for aspiring entrepreneurs and seasoned professionals. Remember to keep the elevator pitch clear, concise, and confident as possible. Repeat it out loud to yourself and fix any awkward sentences. You should be able to say it without hesitation at a moment’s notice. Remain positive and conversational, remember you are positioning your business for growth!