Have you ever tried pitching your business to a potential investor who is in a hurry and doesn’t have much time at hand ? Or have you ever wondered how businesses get the attention of big time investors ?
All these questions stated above all coins out of a business term known as “an elevator pitch”.
Hi everyone my name is Timileyin and in this post i will be showing you 7 compelling ways to create an elevator pitch for your investors.
An elevator pitch is a short review of your startup or already established business that needs extra funding. It is used to tell potential investors or customers what their business or product(s) is/are about.
An elevator speech if done very well can serve as a very powerful marketing or networking tool for you as an entrepreneur or business owner.
An elevator pitch or speech as the name implies has to be brief while mentioning the most important details. As much as the pitch has to be brief, the length can also vary while making sure you don’t rush your words and leaving the important details out of it.
To create a powerful and compelling elevator pitch, below are seven ways to do that.
- Define your person
- Explain what you do briefly
- State your target audience or market
- Explain what your Competitive advantage(s) is/are
- Write out your next line of action
- Create something tasty and attention catching
- Harmonize them together
Define your Person
This is simple to do, even an amateur in the business school can do this.
It’s all about you writing who you are .
For example :
I’m a big time entrepreneur who services the needs of business projects
Explain what you do Briefly
This entails your job description, it has to do with what you do with who you are as defined in the first step.
To get this done, you can always visit your records for past activities to get full idea of what you do and make sure you keep it brief but also mentioning the most important and attention catching ones.
State your target audience or market
This is done by carrying out a market research about your product, market niche and customers
From that research, you can then include it in your elevator pitch about how well you know your customers and market in general.
For example :
After going on a research about your market, product and customers, i was able to get a picture of how they respond to changes in price.
In addition to that, they are very much known for their taste for quality and due to the limited time they have, they are unable to replicate that on their projects and it gets them frustrated.
Explain what your Competitive Advantage(s) is/are
This alone can be a big plus for you. It’s all about stating what gives you an edge over your other competitors. What do you have that other businesses in your niche don’t?
If done correctly, it can be the singular factor that will scale up your business as a result of investors investing in your business and many more customers coming to patronize your business.
Write out your next line of action
This is done so ad to give customers or investors the idea that more are still coming. Most businesses after a big boost tend to slack and rest but giving your customers or investors what to expect next keeps them anticipating and also engaged.
Most investors will want to know what you intend on doing after you launch a particular product especially when they don’t want their money to be used up irresponsibly.
Creating something tasty or attention catching
Keeping your investors a bit tensed or anxious can be a good thing. When you are pitching your business idea or product to your investors or potential customers, you want to make sure that they are very much engaged and interested in what you are saying that’s why it’s imperative for you to give them that tasty feeling to spicy things up.
After touching those areas of pitching your business or product, you need to make sure you harmonize them properly in such a way that they all flow in together.
Elevator pitch is by far one of the most powerful methods of networking with both customers and investors.
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