Published on July 31st, 2013 | by Jose Vasquez4
Mastering your Elevator Pitch in Startup Tech Companies
Once you perfect it, your elevator pitch will be a concise, convenient tool you can use to generate interest, attract investors, and eventually drive sales.
Many startup tech companies have an amazing idea with an amazing execution, but no concise way to explain the product to new users or interested investors. It’s a critical mistake new entrepreneurs often overlook… after all, the product should be more important than the pitch.
But people have limited attention spans, and won’t put up with an extended explanation about why your technology is the latest greatest thing. In order to appeal to these people, capture immediate attention, and sell the idea of your product, you’ll need an “elevator pitch,” a concise, 30-second-or-less presentation of your company or product.
Getting your ideas down to a precision statement or paragraph can be really difficult, especially for non-writers, but there are several strategies you can use to master your elevator pitch.
- Compel Immediately. If your first sentence doesn’t immediately capture someone’s attention, your elevator pitch is dead in the water. Catch people’s interest by using “you” statements and highlighting something they’re already invested in.
- Be Objective. Identify a need and present your product or service as a solution to that need. Be as objective and logical as possible.
- Use Empathy. Think about the struggles your audience is facing, and call out those struggles in your pitch.
- Illustrate Your Unique Value. Don’t be afraid to list some of your competitors—just be sure to also describe what makes your company unique. Without a unique value in your elevator pitch, people will stop listening to you.
- Practice. Once you have the first draft of your elevator pitch written, practice on friends and coworkers to perfect your delivery. Only after several rounds of revision, practice, and retention will you eventually have a final product you can deliver in your sleep.
The end goal here is to equip you will a short paraphrasing that you can use almost automatically to pitch your product to new interested parties. It’s a great way to captivate new customers, new investors, and other parties, and open the door to a deeper conversation.