A business idea needs to have solid foundations and a great strategy behind it. However, that is not all. When it comes to selling your project to investors, a large part of the success lies in the way you tell it so that it manages to capture attention, and this has to be powerful enough to achieve this in the shortest time possible.
This is where the term elevator pitch comes from , which, as its name suggests, is the speech you would have time to give on an elevator ride . This concept, which was created by businessman Philp B. Crosby in 1980, basically refers to the presentation of a business idea in a time of between 1 and 3 minutes.
elevator pitch
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Tips for making a good elevator pitch
If you have to 'sell' the keys to your project, you may find that there ukraine number data are many things that you consider relevant to tell. Below, we give you some tips to help you determine what information is relevant and to get the most out of your speech.
1. Brevity
Prepare a speech that lasts no more than 90 seconds. The first 15 seconds are very important to generate the expectation and interest of your audience.
2. The message
The message has to be clear, concrete and powerful . Obviously, you can't explain the whole project in 90 seconds, so:
Explain the problem for which your proposal is the solution.
Describe your product based on what, how and why.
Show the product . It can be a simulation or a model, this will help your idea gain greater strength.
3. Rehearse and prepare the presentation
You can start by writing your elevator pitch and then practice it in front of a mirror to determine what your flaws are. Once you have mastered it, you must believe in it and act to show passion and enthusiasm for the idea you propose.
First of all, be natural and spontaneous. Your audience knows how to read, so it is important that, if you rely on a visual presentation, you do not tell the same thing that appears on the slides. It is about generating additional value.
4. Prepare the questions
It is normal that after you have finished presenting, investors will want to ask you some questions or resolve some doubts. This is one of the moments in which you have to be firm and not hesitate. Your answers must be clear and show confidence.
5. How to complement the speech
Aside from describing your product, there are other types of information that can generate interest from investors. For example:
Who you are. Tell them briefly about yourself, your experience, why you can succeed with your project and what sets you apart from others.
Talk in more detail about your target . This point will show that you have knowledge of the market you are facing.
Capital. You don't need to talk about specific figures, but you do need to explain what your sources of income are.