how to create an elevator pitch so in
the world of business an elevator pitch
is usually used for investors we’re
trying to get them to sign up with your
company and the idea is you’re getting
on the top floor of a building with the
investor and by the time you’re on the
elevator you get to the ground floor
you’ve convinced them that they want to
learn more about your business so this
what’s called an elevator pitch and
usually have about a minute to be able
to talk about your company and get
somebody excited the biggest challenge
here is being able to quickly convey to
somebody the value of your business
so that they want to learn more and a
lot of entrepreneurs have a hard time
being able to be concise and use
language that moves people to action and
make some quickly understand what your
company is all about it’s not a great
question on YouTube from a reader I are
born or Ranger 89 who is working on the
elevator pitch tries to get it under one
minute and he says I’m worried that I’m
speaking too quickly and that people
won’t understand him and how much over a
minute can I go so in most circles the
one-minute limit is not a hard rule the
only difference would be if you’re going
to some kind of competition and they’re
timing you and you’ve got to do it in a
minute the challenge though is I still
encourage you to try to get it under a
minute and not by speaking faster
because by speaking faster people aren’t
going to understand what you’re doing
it’s focusing in on not sharing every
little detail about your business but
trying to get them to understand at a
high level what you’re all about what
the opportunity is and why they should
care and want to take the next step with
you from there you’ll get into more
questions and due diligence and a whole
lengthy process where you can answer
their questions but you have to tease
them and give them just enough
information that they want to do more
business with you I remember when I had
my first company was a software business
and I was trying to get investors I was
thinking about you know who I wanted to
bring on board and I felt like I felt
like I had a great product I had a great
team I was really helping people we had
we had customers and were getting
traction and I thought if I could only
get the investor to sit down with me for
an hour I can explain everything and he
could help me get to the next step
the problem is investors don’t have that
kind of time right you have to take what
might take half an hour or an hour and
crunch it down into one minute enough
for them to get excited about what
you’re doing to want to contact you and
take it to the next step and usually
what will help make the difference and
after my first business I went into the
VC world so I I saw from the other side
is show that you first have something
but then show that you have some
momentum because the biggest difference
between people who are just pitching an
idea and people who actually get funding
is having some real momentum with your
business okay so you have somebody on
your Board of Advisors or you’ve
actually made a sale right just having a
little bit of revenue not not a ton a
little bit already separates you from
90% of the other companies or plus okay
you’ve been in the media you have some
kind of traction somewhere show that
it’s not just an idea that people are
genuinely interested and need this thing
don’t focus so much on the technology
all the VC cares about is that this
thing can grow so you’re in a space that
that is growing and there’s a potential
to make money but they don’t care about
what the technology does not in the
first meeting they want to see there’s
an opportunity that you have momentum
and that you know what you’re talking
about
that shouldn’t take more than a minute
to get through practice in the VC world
we used to call the grandmother test
does your pitch pass the grandmother
test and that’s where it’s simple enough
that your grandmother could understand
it remember that investors are not
experts in your industry okay they are
generalists they understand the finances
side really well but in terms of
Industry specific they’re a generalist
they know a little bit about a lot of
industries they don’t know your business
as well as you do so you need to be able
to create a pitch that is not full of
jargon that’s not full of short short
terms or abbreviations something that
makes sense for an outsider like your
grandmother to look at it and understand
what you’re doing but I would highly
encourage you to still try to keep it
under a minute and not worry if it’s 58
seconds or a minute five most of the
time they won’t actually time you but
it’s more for your own your own skill
set and for you to be able to get a
powerful result to be able to practice
getting everything down really tightly
just to arouse curiosity and this goes
for everything this isn’t just your
elevator pitch this is any communication
you’re doing with people it’s your pitch
to the media it’s your website homepage
it’s your sales letter it’s all the
marketing copy you use everything you do
you have to be able to quickly get your
point across and use as few words as
possible to have an impact and lead
people to action good luck with your
project if you have more questions let
me know I’m excited for you and I hope
that you will believe for those of you
watching you like the video please give
it a thumbs up it makes you want to do
more for you and let me know what you
have to think leave a question
underneath leave a comment below I’ll
make a video response thank you so much
and I’ll see you soon
the world of business an elevator pitch
is usually used for investors we’re
trying to get them to sign up with your
company and the idea is you’re getting
on the top floor of a building with the
investor and by the time you’re on the
elevator you get to the ground floor
you’ve convinced them that they want to
learn more about your business so this
what’s called an elevator pitch and
usually have about a minute to be able
to talk about your company and get
somebody excited the biggest challenge
here is being able to quickly convey to
somebody the value of your business
so that they want to learn more and a
lot of entrepreneurs have a hard time
being able to be concise and use
language that moves people to action and
make some quickly understand what your
company is all about it’s not a great
question on YouTube from a reader I are
born or Ranger 89 who is working on the
elevator pitch tries to get it under one
minute and he says I’m worried that I’m
speaking too quickly and that people
won’t understand him and how much over a
minute can I go so in most circles the
one-minute limit is not a hard rule the
only difference would be if you’re going
to some kind of competition and they’re
timing you and you’ve got to do it in a
minute the challenge though is I still
encourage you to try to get it under a
minute and not by speaking faster
because by speaking faster people aren’t
going to understand what you’re doing
it’s focusing in on not sharing every
little detail about your business but
trying to get them to understand at a
high level what you’re all about what
the opportunity is and why they should
care and want to take the next step with
you from there you’ll get into more
questions and due diligence and a whole
lengthy process where you can answer
their questions but you have to tease
them and give them just enough
information that they want to do more
business with you I remember when I had
my first company was a software business
and I was trying to get investors I was
thinking about you know who I wanted to
bring on board and I felt like I felt
like I had a great product I had a great
team I was really helping people we had
we had customers and were getting
traction and I thought if I could only
get the investor to sit down with me for
an hour I can explain everything and he
could help me get to the next step
the problem is investors don’t have that
kind of time right you have to take what
might take half an hour or an hour and
crunch it down into one minute enough
for them to get excited about what
you’re doing to want to contact you and
take it to the next step and usually
what will help make the difference and
after my first business I went into the
VC world so I I saw from the other side
is show that you first have something
but then show that you have some
momentum because the biggest difference
between people who are just pitching an
idea and people who actually get funding
is having some real momentum with your
business okay so you have somebody on
your Board of Advisors or you’ve
actually made a sale right just having a
little bit of revenue not not a ton a
little bit already separates you from
90% of the other companies or plus okay
you’ve been in the media you have some
kind of traction somewhere show that
it’s not just an idea that people are
genuinely interested and need this thing
don’t focus so much on the technology
all the VC cares about is that this
thing can grow so you’re in a space that
that is growing and there’s a potential
to make money but they don’t care about
what the technology does not in the
first meeting they want to see there’s
an opportunity that you have momentum
and that you know what you’re talking
about
that shouldn’t take more than a minute
to get through practice in the VC world
we used to call the grandmother test
does your pitch pass the grandmother
test and that’s where it’s simple enough
that your grandmother could understand
it remember that investors are not
experts in your industry okay they are
generalists they understand the finances
side really well but in terms of
Industry specific they’re a generalist
they know a little bit about a lot of
industries they don’t know your business
as well as you do so you need to be able
to create a pitch that is not full of
jargon that’s not full of short short
terms or abbreviations something that
makes sense for an outsider like your
grandmother to look at it and understand
what you’re doing but I would highly
encourage you to still try to keep it
under a minute and not worry if it’s 58
seconds or a minute five most of the
time they won’t actually time you but
it’s more for your own your own skill
set and for you to be able to get a
powerful result to be able to practice
getting everything down really tightly
just to arouse curiosity and this goes
for everything this isn’t just your
elevator pitch this is any communication
you’re doing with people it’s your pitch
to the media it’s your website homepage
it’s your sales letter it’s all the
marketing copy you use everything you do
you have to be able to quickly get your
point across and use as few words as
possible to have an impact and lead
people to action good luck with your
project if you have more questions let
me know I’m excited for you and I hope
that you will believe for those of you
watching you like the video please give
it a thumbs up it makes you want to do
more for you and let me know what you
have to think leave a question
underneath leave a comment below I’ll
make a video response thank you so much
and I’ll see you soon
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