A:

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 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:

  • Brief description: a brief description of the primary features of your product or service.
  • Target market: target market, including size, for your idea.
  • Projected earnings: the profits you anticipate from sales of your product or service.
  • Personal history: a synopsis 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 offer to invest in your idea.

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