|| WBL – Elevator Pitch ||

Whilst learning about business plans, I came across a term I had not heard before, “Elevator Pitch”. Upon further research, I learned that it is a short pitch one would give to someone they are interested in doing business with, but short enough to only last a minute or so, or as long as it takes to get in an elevator with this potential business partner and reach their floor, hence the term elevator pitch. What we as a class decided to do was write our own for the business ideas we made up when going through the Prince’s Trust business plan pack.

As mentioned earlier, my business plan was for an occasion cards company; as the elevator pitch should be so short, only the important information should be said. Before completing the elevator pitch in the business plan pack, I was given a template hand-out, on which I filled out the different sections to perfect my elevator pitch. There were four sections to fill out that, when put together gives an elevator pitch that would be the right length of time when saying it and contain the necessary information. The four sections are; your opening, the middle, the call to action and the conclusion.

The first section, the opening, should last around 10 seconds when you are saying it, and it should include information such as your name, your business name or profession and where you are based, if you have a base or where you are looking for business. As this section should only be around 10 seconds long, you need to make sure you are not including information that is not needed at the start. For example for my card company, I wanted all the designs to be hand-rendered, but it would not be necessary to mention this at the start of the pitch.

The second section is where the bulk of the information about the business should go. The middle is supposed to last around 30 seconds, this is the longest of all the sections. Within this you should mention the products you plan on selling/are already selling or any services you offer, and what you require. So for me, this is where I would mention that my designs are hand-rendered, and how, being digitally and traditionally.

The call to action section, like the opening, should only be around 10 seconds; in this section you say what you would like the potential partner to do, this could be looking at your website, online portfolio, etc. At this point you should also give them something that will remind them of you, i.e. a business card.

The conclusion is the last section, here you just want to end with your basic information, back to your name, business name/profession and finally your strap-line, which is a short statement about your company. For example for my card company it could be something along the lines of “Cards for every occasion”.

To finish the business plan pack, I filled out the elevator pitch section in it, this was split up in three sections, first your business name, then your strap-line, and finally your elevator pitch. This is all of the four sections in the first hand-out put together in one paragraph and written down. This when said out loud should be around a minute long, no longer than three minutes, as this is too long and the person may loose interest if you have too much information that is of no use too them, or be distracted by something else.

I think the idea of having an elevator pitch ready and practiced for whenever you need is very useful, and will possibly come in handy when I have established what I want to do, and need to promote myself with as many people as I can, as quickly as I can. This definitely something to keep in mind for when I have finished this course and if I decide to start my own business.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s