How to make a Winning Business Pitch

Understanding the 30-Second Elevator Pitch

What is a 30-Second Elevator Pitch? The 30-second elevator pitch gets its name from the average length of an elevator ride, emphasising the need to quickly and effectively communicate your message within a short timeframe. Crafting a compelling elevator pitch is crucial to capturing someone’s attention and making a lasting impression in the business world.  The elevator pitch concept originated from the idea that professionals should be able to concisely present their ideas or business proposals in the time it takes to ride an elevator. It was popularised in the business world as a way to efficiently communicate one’s value proposition and generate interest in a short amount of time. Today, it is widely used in networking events, job interviews, and entrepreneurial pitches to succinctly convey key information and leave a memorable impact on the listener.  Creating a 30-Second Elevator Pitch Be Brief: By breaking complex ideas into a concise and engaging one, you can capture the attention of your audience and effectively communicate the value you bring. A successful elevator pitch should highlight the unique selling points or competitive advantages of the idea or business. Be Clear: A clear and concise message ensures that the main idea is easily understood, while strong storytelling captivates the listener and makes the pitch more engaging. By highlighting unique selling points, individuals can differentiate themselves from competitors and leave a lasting impression on their audience.  Prioritise Relevance: An effective elevator pitch should leave a lasting impact on the listener, making them remember and think about the pitch long after it is delivered. The pitch should be relevant to the needs and interests of the audience, addressing their pain points and offering a solution that they can relate to. This is crucial in capturing the attention and interest of potential clients or investors. Conclusion  In conclusion, crafting an effective elevator pitch requires careful consideration of the lasting impact it will have on the listener and its relevance to their needs. By incorporating these elements, you can greatly enhance your chances of capturing the attention and interest of potential clients or investors, ultimately leading to a successful outcome for your pitch.  Ready to elevate your pitching game? Download two FREE chapters of “The Art of Pitching” and gain invaluable insights that will transform your approach to pitching. Also Read: How to Build Your 60-Second Elevator Pitch

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How to Build Your 60-Second Elevator Pitch

An elevator pitch is an introductory summary of you and your business goals. It is one of the most effective methods to promote your personal brand and get listeners wanting to know more, be it with potential investors, employees, co-founders, etc. Build your own, outstanding pitch quickly and easily with any of the following positive ‘action’ words: Achieve Assess Broaden Capture Centralize Change Compile Complete Coordinate Create Design Develop Diversify Enforce Enhance Establish Evaluate Exceed Forecast Guide Identify Increase Initiate Inspire Investigate Launch Maintain Manage Who You Are Your success depends on the strength of your first few words, so your opening line is important. You need to engage the listeners and draw them in, by making them eager to learn more. This means providing context to make the pitch relevant to them, before talking about you. Present the problem that you and your solution solve and provide context. Here’s an example: Many entrepreneurs struggle to attract new customers, as they are so busy bringing in revenue by delivering value. Often they only grow through referrals. We specialize in creating marketing systems for successful entrepreneurs in the education industry. What You Do This speaks about your experience and builds on the initial section. You may reference recent projects you have been involved in or interesting opportunities you have had. Pay attention to the context by keeping it relevant to the listener and free from jargon. Here’s an example: We are focused on delivering marketing results for clients in the education industry. I have worked in this industry for ten years and I am very aware of the common business development challenges as well as effective solutions. Your Unique Selling Proposition You should show the unique qualities you have that can benefit the listener. The intention should be to clarify the points that differentiate you from competitors and similar companies in your industry. These differences should not be superficial but focused on delivering unique value. Here’s an example: We have developed a proprietary system for business development called the ASAP Marketing system and have used this system successfully with several clients in West Africa. We serve six of the top 10 schools in the Lagos district and have helped them achieve 20% increase in new business sales revenue over the last three years. Your Goals This section should also include ‘’What’s in it for them?’’ Be clear about what you want and align it to what the listener is looking for. Find out exactly what the listener wants so that your pitch can show how you can fulfill their needs. Use gentle, effective persuasion to avoid causing offense. Here’s an example: We would be interested in speaking to you to see if there is an opportunity for us to help you win more customers. Action Steps Write the first part of your elevator pitch by answering the question ‘’Who am I?’’ Write the second part of your elevator pitch by answering the question ‘’What do I do?’’ Write the third part of your elevator pitch by answering the question ‘’Why am I unique? What are my unique selling points?’’ Write the final part of your elevator pitch by answering the question ‘’What are your goals?’’ For more posts from this author, visit: www.gloryenyinnaya.com ‘’Your audience is waiting for your stories.’’ – Steve Woodruff, Author of Clarity Wins.

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Tips – Pitch Perfect!

“If you can’t explain it simply, you do not understand it well enough” – Albert Einstein Einstein said it perfectly! Pitching your business idea to a 3rd party is when you give a clear understanding of your idea, plans, and goals so as to get their buy-in. This 3rd party could be a potential client or a potential investor. Your goal is to communicate clearly and enthusiastically to motivate and persuade so as to turn your vision or idea into a reality.  Before you get to a pitching session, you must do your research. You must first research the potential investor or client; learn more about their likes and dislikes, their needs, pain points, the kinds of ideas they invest in, the relationships they have with the businesses they invest in. You need to understand the market opportunity of your idea, your target audience, your product-market fit, your value proposition, your financials, and most importantly your exit strategy.  As you are preparing for your pitch, here are 5 things that are essential for you to do to win the pitch  Story Story: Tell a story! Using the active voice, your idea should be in the format of a story. The storyline could be aligned with the problem and need your idea is solving or filling.  Implement the KISS strategy: Keep it stupidly simple! Use short sentences and familiar, everyday words but don’t stray too far from investor lingo (eg minimum viable product). Ensure you have visuals, people understand better when they can see, but keep these visuals simple.  Facts & Feelings: Quantitative as well as qualitative data. You need to show the data, it is essential. However, do not forget that emotions play a big role in decision making so use language and metaphor that will stir their emotions.  Mystery: Do not give all the information at the beginning of the presentation. The brain craves anticipation so give teasers that will keep your audience interested and wanting more in the beginning. Repetition: The more you repeat something of importance, the more likely it is to be remembered. Repeat information (your company name, your name, your idea) as much as possible so it is remembered.  Pitching can be a daunting experience; mainly because we place so many expectations on it. As long as you know your idea and pitch audience inside out, you can clearly state the market opportunity of your idea, your target audience, your product-market fit, your value proposition, your financials, and your exit strategy, and are prepared; go in, have fun, and don’t put too much pressure on the experience.  Contact Versa Research your trusted data, research & consulting partner! References https://www.indeed.com/career-advice/career-development/business-pitching https://online.hbs.edu/blog/post/how-to-pitch-a-business-idea

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