As a startup software development agency specializing in Laravel and React custom applications, we’ve worked with numerous small companies and entrepreneurs who are eager to make a lasting first impression. An effective elevator pitch is perfect tool to acheive this – so useful for any business looking to take off and succeed. In this guide, I’ll explore the world of elevator pitches, discussing key concepts, best practices, and providing valuable insights to help you create a compelling pitch that leaves a lasting impression, which is especially important if you are looking for your first clients.
What is an Elevator Pitch?
An elevator pitch is a brief introduction that summarizes background, skills, and value proposition in 30 seconds or less – of you or your product. If you are looking for job – then such pitch can be a powerful CV boost tool and if you are runnning a company – it applies to your product or service (in this artcicle I will focus on second case). It’s called an “elevator pitch” because it should be as concise as the time it takes to ride an elevator – that’s where 30 seconds come from. The goal of an elevator pitch is to spark interest, establish credibility, and convey your unique value. A well-crafted elevator pitch can open doors for networking opportunities, job offers, business connections and more.
What Should Good Elevator Pitch Have
Treat this list rather as a guideline than checklist – not everything may be required, and also you might want to remove some elements if they’d took too much time.
- Problem: Clearly state the problem or need your company addresses.
- Solution: Explain how your product/service solves this problem in a unique way.
- Market opportunity: Highlight the size of the market you’re targeting.
- Unique value proposition (UVP): What makes your solution better than others?
- Business model: Briefly describe how your business generates revenue.
- Team strength: Mention key team members and their expertise.
- Milestones/achievements: Include any notable successes or progress made so far.
So, as I mentioned, it’s easy to see that some of those elements are already covered in Lean Canvas – now it’s just a matter of reprhasing it, so it can be presented within chosen channel (spoken, written etc)!
Present Problem and Provide Solution
It seems natural to connect these two points together and present them plain straightforward. It also helps you to immediately verify that you are talking with proper person. For example:
– Hello, my name is Lukasz, and I specialize in making web appliations that other software houses couldn’t cope with – especially the ones connected with [any brach name here].
So as you can see – short, quick, effective. Defined problem: undelivered prioject. Defined solution: my software house. There is not much uniqueness in here, because topic is general, but should be good enough to start with. And you can expect similar answers, such as :
– Nice to meet you, I’m John from [xxx] industry
– Good to know you, I have been working in [xxx] industry
– Hi. [this sounds rough, but is not actually a cutting of message, but beware here of further potential negative resopnse]
Another example, if you would be owner of SaaS for managing rotations, could be:
– Hi, my name is John Doe, and I am owner of online rotation management software for shipowners, that replaces obsolete Excel files and printed tables.
You can easily spot here unique value (‘online’ is not common in this industry because of limited access to Internet) and problem (using obsolete Excel files, that – by default – means a lot of manual work). As you can see it sounds natural even if order is reverted.
Introduce Market Opportunity and Unique Value
If you have not yet presented Unique Value (as per Business Model Canvas or Lean Canvas) or if you want to emphasize it, then second sentence or diaglogue is a perfect moment for such thing. Imagine if you were selling background checks for landlords – that would be fairly easy to emphasize:
– Essentially in nearest future I am to scale my service to next 10 US states, because background check supplemented with criminal and sex offender verification allowed us to be top seller in 5 states already.
Again, see how natural it sounds, while still conveying powerful message. Unique value spotted here of course are supplements, and market opportunity is connected with nearest plans (extension to next states), AND alredy confirmed by market (top seller in 5 states)!
Business Model Supplemented by Strong Team and Plan
We’ve already mentioned ourselves, our users, but what’s missing is team, that is also very important for each business – because team is actually who’s running business and often defining it’s success. If you have something that could be emphasized here, then it SHOULD be emphasized here. Consider something like this:
– Currently with my CTO we are planning to scale up our SaaS model so we can sell more agriculture company reports, because our CMO sees opportunity in investors market.
I think at this point it’s so easy that you can find yourself all 3 elements in this quote.
A Visual Representation of Your Idea
The Lean Canvas and Business Model Canvas are two powerful tools that can help you visualize your idea and identify potential areas for improvement. The Lean Canvas is a concise, one-page representation of your business model, while the Business Model Canvas provides a more detailed overview of your value proposition and revenue streams. These visual aids make it easier to communicate complex ideas quickly, so are perfect for elevator pitch. If you don’t know yet how to create such plan, read my article on creating Lean Canvas and Business Model Canvas.
Although, such canvas is not an elevator pitch itself – it is rather an extension of elevator pitch, or – even better – base for elevator pitch. It is good though to have:
- either printed it out so hand over if you see that your pitch is working
- or be able to deliver it quickly via sharable link / QR code or similar tool
- or be able to send it via text message
If elevator pitch was interesting enough, then such business canvas will be a natural extension to what you try to sell. It should be fairly easy to create multiple elevator pitches based on such canvas – so be sure you try to create one!
And now it’s time and place for a free drafts that you were looking for. Note, that this draft does not only contain what’s mentioned above, but plays a bit aswell with introduction order. Again, elevator pitch is something that you need to work through, see what “feels” good for you, be adjusted to current situation and so on. So even a complete draft should always be treated like draft, not like something to recite. I do recommend docx version as there are some more tips inside that you can remove while you work on it.
Download Free Draft for Perfect Elevator Pitch PDF file
Download Free Draft for Perfect Elevator Pitch DOCX file
Extending and Improving Elevator Pitch
If at this point you believe that you have solid base, it’s good to move forward. Consider following elments either for improving your elevator pitch or for extending it after initial interest is shown.
Presentation Mode or Introduction Mode?
It is good to consider what your pitch will be used for. Is it for first slide of your presentation? Or is it something that you want to bring up on business meeting? Maybe it’s something that will be on second/third page of your marketing folder?
Answer to this question should not impact value you are trying to present, nor quality of pitch, possibly might affect elements of the pitch – but most importantly it will affect wording you choose. But don’t forget to emphasize proper elements in effective way – if it’s presentation, then by your voice; if it’s on marketing folder, then by proper font or graphical underline; and so on.
Keep People Interested!
No matter what form of presentation you are doing, even if you fit all 7 (or maybe more?) elements in 2-3 sentences, your interlocutor can be either bored or pushed away if it sounds a bit too much as ad. Depending on form, you should consider improving engagement.
- if you are discussing, ask them about opinion and listen what they are selling, or what they are doing professionally. It might just be a case when you will fill each other’s needs
- if it is part of brochure, keep people interested by providing more details later on. Such as “we’ve made 1B USD last quarter – see how” or “we have 90% retention – learn what helps us to keep users on platform”
- if it’s one-on-one talk, it is sometimes good idea to simply ask if they are interested in such service or being part of such service, or ask them about their opinion. You may get valuable input!
Data and KPIs: Measuring Success
As a startup software development agency, we’ve worked with numerous small companies and entrepreneurs who need to measure their success – properly gathered data distilled into numbers and compared to KPIs (Key Performance Indicators) are essential tools for any business looking to track progress and identify areas for improvement. By monitoring key metrics, businesses can make informed decisions and optimize their operations. And of course they come in handy when doing any elevator pitch or verifying your progress (or track) against canvas model. By showing interlocutor that you know how to use KPIs you will be talking the same language as him and additionaly ensuring him that you are THE professional.
Selecting a Business Name and Domain
When starting a new business, selecting name and domain is crucial decision that will impact you in the future. Your business name and domain are often the first impression potential clients have of your brand, so it’s essential to choose wisely. By conducting thorough research and selecting a unique and memorable name, you can establish a strong foundation for your business. A well-chosen name sets the tone for your entire branding strategy.
User Story Mapping: A Visual Representation of Your Requirements
User story mapping is essential for any business looking to create a compelling elevator pitch. By visualizing your requirements and identifying potential areas for improvement, you can craft a pitch that resonates with your target audience. User story mapping also helps entrepreneurs identify potential pain points and areas where their solution adds value. This insight ensures your pitch addresses real needs.
Mastering Elevator Pitch – Best Practices
If you have went through all of the elements above, now it’s time to step up your game even further. Most ubiquitus way is to track down your pitch success. So select proper KPI, measure, adjust – just apply Evidence Based Management here And consider following:
Improvement 1: The importance of confidence
Confidence should shine through in your tone, body language and words when delivering elevator pitch. Practicing until you feel confident ensures a natural delivery that leaves a positive impression.
Improvement 2: The power of storytelling
Storytelling is powerful for creating engaging pitches; use anecdotes, metaphors, or analogies to illustrate points memorably while capturing attention effectively. It also helps people visualize topic you are presenting.
Improvement 3: The importance of authenticity
Authenticity matters when delivering an effective elevator pitch. Be genuine about yourself and your business without using jargon or pretending to be someone else. Your audience will see through it; and for those who won’t – you probably wouldn’t want them as partners.
Improvement 4: The role of visual aids
Visual aids like slides, props, or videos enhance engagement during pitches by illustrating points vividly while highlighting unique value propositions.
Improvement 5: The importance of practice
Practice is crucial for delivering an effective elevator pitch. Rehearsing helps identify areas needing improvement and refines the overall delivery until it feels natural.
Improvement 6: Elevator pitch is selling
Remember that elevator pitch is essentially selling – either yourself, or idea or business. And people usually do not like to be agressively sold to – so when you’re doing it, do not to overdo it.
Improvement 7: Use simple language
Using simple language in your elevator pitch avoids confusion caused by jargon or technical terms unfamiliar to listeners. You should use though industry-specific terms if you are sure your audience understand them – this will improve your rapport.
Improvement 8: Focus on your unique value proposition
Highlighting what sets you apart from competitors focuses the listener’s attention on why they should choose your business over others.
Improvement 9: Use a strong opening line
A strong opening line grabs immediate interest; use clever anecdotes, surprising statistics, or thought-provoking questions to captivate listeners right away.
Improvement 10: Practice your pitch in front of a mirror
Practicing in front of a mirror allows you to observe body language and tone adjustments needed for confident delivery.
Essential Elevator Pitch Questions – Answered
Q1: What is an elevator pitch, and why is it important?
A1: An elevator pitch is a brief introduction. In context of CV: your background, skills, and value proposition in 30 seconds or less; in context of business: It’s essential for any business looking to grow and succeed because it allows you to make a quick impression.
Q2: How do I create a compelling elevator pitch?
A2: A successful elevator pitch typically includes the key components of introduction, problem statement, solution overview, and value proposition. Practice your pitch until it feels natural and concise so that it flows smoothly when delivered.
Q3: What are some common mistakes to avoid when crafting an elevator pitch?
A3: Common mistakes include rambling, using too much jargon, and failing to tailor the pitch to your target audience. Practicing helps you identify areas for improvement and refine your delivery.
Q4: How can I make my elevator pitch more engaging?
A4: To make your elevator pitch more engaging, focus on storytelling and highlighting your unique value proposition. Use visual aids such as slides or props to illustrate your points effectively. Consider using business model canvas or lean canvas.
Q5: What is the importance of practicing my elevator pitch?
A5: Practicing your elevator pitch is essential for any business looking to create a compelling introduction because it helps you feel confident in delivering it naturally without stumbling over words. But the best practice is live practice – you need to meet people and talk to people, noting their reactions in your head for further evaluation.
Q6: How can I tailor my elevator pitch to my target audience?
A6: Tailoring your elevator pitch to your target audience is crucial for making a lasting impression. Researching their needs, interests and language allows you to craft a message that resonates with them specifically.
Q7: What are some common questions asked during an interview or networking event?
A7: Common questions include “Tell me about yourself,” “What’s your background?” and “What makes you unique?” Being prepared for these helps ensure smooth conversations. With time, answersing such questions will become easier and more natural.
Q8: How can I use my elevator pitch to promote my business?
A8: Your elevator pitch is a valuable tool for promoting your business by introducing yourself, highlighting what sets you apart from competitors, and establishing credibility with potential clients or investors. It’s an opportunity to make them interested in learning more about your company.
Q9: How can I measure the success of my elevator pitch?
A9: Measuring your elevator pitch’s effectiveness is essential for continuous improvement. Track engagement rates, conversion rates from interest shown after hearing it, and customer satisfaction levels to gauge its impact on potential clients or investors.
Elevator Pitch Conclusions
Creating an effective elevator pitch is vital for business growth. Following the tips provided here helps craft one that leaves lasting impressions on potential clients or investors. Regular practice ensures confidence, authenticity, and memorable openings while refining your message continuously based on feedback received.
At Sailing Byte, we specialize in Laravel and React custom applications creation tailored to small companies’ needs alongside offering web application development services and logistics software solutions. If you will work with us, we might help you out with creating business canvas and elevator pitch. Our expert team aims at helping businesses succeed through innovative technology implementations, but always in partnership with our Clients.
For any questions or interest in learning more about our offerings from Sailing Byte, feel free to reach out anytime; we’re here ready to assist you with all your technological requirements!
