Perfecting Your Startup Elevator Pitch
October 8, 2019
Image from https://infographicworld.com/the-ultimate-guide-to-effective-elevator-pitches/
If you’re running a startup, having an effective startup elevator pitch is crucial to attracting partners, investors, talent, and others essential to getting you from zero to one.
Similar to a regular elevator pitch, the startup elevator pitch ranges from 30 to 90 seconds, depending on your audience and the occasion. The idea of the elevator pitch is to succinctly deliver key information on your startup in the time it would take for a typical elevator ride. The purpose is to get invited into the boardroom for a longer conversation.
We actually have a module on the startup elevator pitch that you can access (you can also practice with our AI engine), but if you’re short on time here’s an elemental breakdown that is popular in startup circles.
Your name, company and position. Give your audience context.
Identify the problem and solution
You can do this in different ways. You could either start with identifying the problem and announcing a solution or vice-versa. Whatever you choose, you want to mention the audience you’re solving for. Here are two examples we’ve used at TalkMeUp:
“TalkMeUp is developing AI-based software (solution) to help enterprises (audience) solve the problem of providing exceptional communications training for their employees while reducing their costs and measuring ROI (problem).”
“Right now, it’s expensive to train your employees in work communications, and you can’t track ROI or progress (problem). TalkMeUp solves this problem with AI-based solution that enables companies (audience) to train their employees anytime, anywhere, from their computer or phone (solution).”
Mention the secret sauce or proof of success
Once you’ve described what you do, you should capture the audience’s attention by either mentioning your “secret sauce” or providing proof that you can deliver. Mention, for instance, that you’ve got a patented technology that serving an accomplished list of customers (secret sauce). Or that you’ve just raised a huge round of funding from notable investors (proof of success).
Important tips to keep in mind
As you develop your elevator pitch, practice it repeatedly until it becomes second nature. Record yourself or pitch it in front of your colleagues or investors. Remember to tailor your pitch for different audiences and occasions; what you might say at a demo day pitch isn’t what you’d tell an investor at a coffee meet-up. And like we’ve said before, stop and listen to the feedback on your pitch as this will help you refine it to better suit your audience.
You can perfect your pitch using TalkMeUp.