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Elevator Pitch Instructions

This is a very useful exercise for new companies. An elevator pitch is a structured statement to concisely explain (in 60 seconds) the merits of a business opportunity.

It is called an elevator pitch because the premise is: if an entrepreneur happened to step into an elevator on the top floor of a building and by luck a potential investor was also in the elevator, the entrepreneur would have enough time to gather the interest of the investor before the elevator reaches the ground floor.

Elevator pitches should be carefully constructed and practiced often. It takes research to provide the facts for each of the elements of the pitch (below).


Steps in the Elevator Pitch (In This Order)

Step 1:
Time: 10 seconds

Hook: Grab the attention of your audience with an anecdote (a short interesting story about a real person) providing an example of the problem you are addressing.

 

Step 2:
Time: 20 Seconds

Opportunity/Problem: Describe the opportunity or problem needing to be solved (and its size/severity/cost).

 

Step 3:
Time: 20 Seconds

Solution: Describe your solution which takes advantage of the opportunity or solves the problem (and why is it better than other solutions).

 

 

Step 4:
Time: 10 Seconds

Market: Describe the size and growth of the market you will enter. This explains the possibility of growing and sustaining your business over time (if the market is large enough and if it is growing instead of declining).

 

Total: 60 Seconds

No visual aids (slides or poster boards) are used in this presentation (small props are acceptable if desired, but not necessary). It is simply a one-minute oral pitch.