Capturing someone’s attention in 30 seconds is indeed a challenge, but that is exactly what an “elevator pitch” is meant to do. Within Sploda, the elevator pitch you enter into your company survey is included in the body of the email that is sent to potential investors – they will read your elevator pitch before they choose to open your pitch deck or Sploda report. Remember: an Elevator Pitch is meant to set a hook. It’s not meant to communicate your entire value proposition in under 30 seconds. It’s intentionally short, sweet, and filled with incentives to learn more – to get them to at least open your pitch deck and Sploda report.
Here’s our thoughts on putting together an effective Elevator Pitch
Start with a Question
Make them think! Many experts suggest starting with a question. Steve Jobs is famous for making one of the best elevator pitches. While trying to convince John Sculley to leave Pepsi Co., for Apple Inc., Steve Jobs asked him, “Do you want to spend the rest of your life selling sugared water, or do you want a chance to change the world?” But don’t be overly dramatic. Something like… “Have you ever tried to _____________” is a good lead-in that might get the reader to begin agreeing with you.
What Does Your Business Do Exactly?
Description of what your business does. How does it answer the question you just posed? Never ever exaggerate. Remember that investors see hundreds of pitches every week. They see exaggerations a mile away. Keep it real. If your concept is a good one, it will come through.
Where are You Now?
Explain where you are now in your business. Establish credibility by highlighting things like:
- Revenue or profit. And/or
- Credible customers or partners. And/or
- Secure assets (real estate, Intellectual Property, etc)
What’s Your Next Big Win?
Focus on your next big win and how it will impact the value of your business. Example: “If successful our company will double its value the next [timeframe].”
The Call to Action
Let them know that you are raising capital. If you are using Sploda.com, then all of your contact information is included in the referral package that is sent to prospective investors. If you are not using Sploda.com, then you should include a “call to action”. Something like “if you are interested in learning more about this opportunity, we would love to arrange a time to discuss this in person at your office”.
- Don’t run out of time or words explaining what makes you special and not explain the investment opportunity.
- Remember that you might be an expert in your industry, but your audience isn’t.
- Don’t get technical. There isn’t enough time…
- Don’t use jargon – it’s off-putting.
- Don’t guarantee anything.
- Don’t try to close the deal in an elevator pitch. Set the hook and create the opportunity to build the relationship in the next meeting.
- Don’t exaggerate
Here are some elevator pitch examples that you might find helpful:
“Why does Telsa exist? We have record high CO2 levels in the atmosphere resulting is steadily increasing temperature. And, it still climbing. Combustion cars emit toxic gasses too, fling 53000 people every year. What can we do to change this? How can we make a difference? What we are trying to do with Tesla is accelerate the worlds transition to sustainable transport. At Tesla we make great electric cards. This is really important for the future of the world.”
“Let’s face it. Parking can be a real nightmare. It can be infuriating to find, extremely pricey and by the time you find that spot you would have lost time, petrol, and caused a lot of unnecessary traffic and pollution. Well, there’s an answer, parkatmyhouse.com. We are an awesome little company, backed by an awesome big company called BMW. Now, listen in: You can reserve parking in a private property and save up to 70%. Need to park at a sports match or local station? Sorted. … Just go to parkatmyhouse.com and simply type in where you want to park and what dates. It is that simple.”
“Did you know that nearly 30 percent of trucks in the U.K. aren’t carrying any cargo because they can’t find a load to carry on return trips? This leads to more than $500 million in wasted fuel costs alone. We’ve created a technology company that matches empty trucks to companies looking to move cargo, so trucking companies can generate business from previously empty trips. So far, we’ve landed contracts with two of the largest trucking firms. Now, we’re hoping to raise additional capital so we can expand our operations and grow into countries outside of the U.K. My team and I have more than 30 years experience in the trucking industry and are well positioned to grow this business significantly.”
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