You often have a small window of opportunity to convey your message. Having a good idea is not enough, you need to be able to articulate your thoughts concisely, in a way that will capture your listener’s attention. At the end of the accelerator, the participating teams will stand up in front of a room full of investors and peers, ready to pitch their idea. Talking in front of a crowd is no easy task (and no, the old advice of picturing the audience naked won’t really help you in this case!), which is why we like to train our teams from the get-go.
If you are getting ready to pitch your idea, and still not sure how to convey the full scope of what you do in 30 seconds or less, then you are in the right place. Welcome to Pitching 101.
What is an elevator pitch?
You are in an elevator heading up 4 floors, and suddenly a potential investor walks through the doors. How are you going to establish contact? Are you ready to explain what your idea is about, what problem you are trying to solve and how are you planning to do it, all in 30 seconds or less? The first impression can open or close a door for you – which means, you are going to need a plan of attack.
That’s where the elevator pitch comes into play. A good pitch is equal parts communication and sales tool, and having a solid one in your pocket will help you answer all the above questions with ease.
Why do you need an Elevator Pitch?
No matter what kind of project you are working on, you need to be able to talk about it and share it with a wider audience. You might need to secure some funding, get media coverage or sell your product to the public. Whatever you are trying to achieve, one thing is sure: you are going to need some help at some stage of the process.
Always remember that other people are not going to know as much as you do about the idea and it’s relevancy. It’s also safe to assume they won’t be as excited about it, as you are – they need to know more, before getting on board! The elevator pitch will help you quickly convey this message and get them to consider and believe in your idea above others.
How can you get started?
To craft your first elevator pitch, start by considering these 4 points:
- You and your team. Introduce yourself and your team. Focus on your strengths and highlight your domain of expertise. This is an important step to gain other people’s confidence in your skills.
- The problem. What problem are you trying to solve?
- Unique solution. Talk about your proposed solution and your plan to get there. How can you take a complicated problem and make it simple?
- Market opportunity. How big is the market you are entering? What’s the potential for growth?
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