Describing Your Business: The Elevator Speech

What is an Elevator Speech?

• A short, highly focused statement selling an idea, course of action, or a description of your business.
• The name comes from the scenario of bumping into an important decision maker, and winning her over in the short duration of an elevator ride.

When to put an Elevator Pitch to use in Describing Your Business:

• When trying to persuade people as to a course of action.  It may not be that you are attempting in this first meeting to close a business deal with someone, but rather likely that you would want to persuade them to meet with you to begin such a discussion.
• At networking events.
• When selling something – a product, idea or a business relationship.
• Whenever the opportunity presents itself – so be ready.

How to structure an Elevator Speech:

• You need to catch your audience’s attention immediately
• When Describing Your Business, discuss benefits, not details or features of your business
• When Describing Your Business, pre-empt the question, “So What?”.  You need your audience to understand what is in it for them.
• Move people to a specific action when describing your business.  Are you looking for an appointment with a decision maker?  Do you want them to order a trial offer?  Be very clear what you want them to do.

The Delivery of Your Elevator Speech

• Target your audience carefully.  What does your audience what to hear?  What type of language would they be most receptive to?
• Speak in your own voice.  You can’t fake authenticity.  Although you need to prepare and rehearse your elevator speech, the words you choose must be appropriate to who you are, and how you wish to be perceived.

3 Things to Remember about Describing Your Business Using an Elevator Pitch:

1. Write it out.  You shouldn’t improvise your elevator speech.  You need to write it out in advance, and refine it over time.
2. Be prepared at all times.  You should have the key points of your Elevator Pitch committed to memory.
3. It’s more than a slogan.  Your Elevator Speech must leave no doubt what you’re in business to do, and what’s in it for them as your audience.

Watch the ‘3-Minute Crash Course’ about Describing Your Business (CLICK THE ARROW TO START THE VIDEO):

Looking for the Full-Length Podcast/Video? …

Get Instant Access to 200+ Cheat Sheets, Videos, and Other Immediately Usable Tools for Busy Managers – Try Out a Wily Manager Membership Today!