An important part of being an entrepreneur is pitching or making the case for the product, project or idea you intend to sell. An elevator pitch is a condensed, easy-to-understand version of a business pitch, or pitchbook, delivered in the time it takes to ride an elevator. Entrepreneurs must be prepared to give a pitch at any time, including during an elevator ride.
Key elements of a successful elevator pitch include a:
- Brief description of the primary features of your product or service.
- Target market, including size, for your product or service.
- Projected earnings you anticipate from the sales of product or service.
- Personal history of your qualifications and achievements.
- Competition and advantage information about your competitors, highlighting features that make your product or service superior.
An elevator pitch should be concise, clear and interesting. If your elevator pitch is successful, a potential investor may request more information or even a meeting to discuss possible investment.