The 7 key components of a perfect elevator pitch

Posted by noahparsons under Raising Capital
From http://upandrunning.bplans.com 192 days ago

Whether you are trying to raise money for your business or just want to perfect your business strategy, a solid elevator pitch is an essential tool for achieving your goals.

Here are the 7 key components that should never be left out of any pitch.

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Written by HeatherStone
191 days ago

Hi Noah,

I have to admit I get downright wonky about things like the elevator pitch, which seems like an art form of its own much like a haiku. The businesses I've been involved with up until now have primarily been bootstrapped meaning the business plan is really more for internal use, but I'm fascinated by the idea of polishing my pitch for that inevitable moment when it may be time to take things to the next level. Hold that elevator, please!

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Written by noahparsons
190 days ago

Hi Heather - Thanks for the comments!

Even if you never look for outside money, I think a pitch can be a great internal tool for bootstrapped companies. You can use it to refine your strategy and summarize the business plan. Distilling the plan to it's core essence is an excellent exercise for any business and has the added benefit of making sure everyone on your team is going in the same direction.

And, if you ever do need to pitch an investor, you'll be ready to jump right into that waiting elevator!

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Written by MarkT
191 days ago

Love the breakdown Noah. I think the most important component is the Target Market. Most people do not take the time to define EXACTLY who it is you are aiming for. Having a concrete definition of who your customer is key.

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Written by noahparsons
191 days ago

Totally agree, Mark. Not knowing who your customer is or how you reach them is critical. It will also save you a ton of time and money if your marketing is highly targeted at a single group vs. broadcast marketing to "everyone."

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Written by bigmoneyweb
192 days ago

In my own opinion, helping clients to generate more sales, I’ve noticed that a good elevator pitch is actually more than just a pitch: it’s a conversation. Thanks for sharing.

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Written by noahparsons
191 days ago

Good point. Pitching is not just about pushing information at someone else. It's about the conversation, and more importantly, being prepared to have a well informed conversation about your business.

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