How to Write a Good Elevator Pitch for Startups
When you’re trying to grow a startup business, entrepreneurs should do a lot of networking to drive brand awareness and connect with the right people. Whether you’re attending a formally organized networking event, an industry conference, or you strike up a conversation with someone in public, it is essential that every startup is ready to go with a well-executed elevator pitch. Having a good elevator pitch can mean the difference between attracting interest from an investor, landing a new client, or connecting with a startup mentor who can contribute significantly to your company’s success. So, what exactly should a good elevator pitch for startups look like?
We have included all the essentials so you are ready to create an elevator pitch that is memorable and effective.
What is an elevator pitch?
An elevator pitch is a concise yet powerful description of your idea, business, or product that can easily be verbalized in the time you would be on a short elevator ride – about 30 seconds or less.
In that half a minute, the person you are pitching to should clearly understand what it is you do but left feeling intrigued, curious, and wanting to learn more.
Nailing your pitch is what will separate you from others, and it will open up large opportunities for your business.
What is an example of an effective elevator pitch?
An example of an effective elevator pitch comes from Text Request, a small business specializing in texting software.
Your business relies on communication with clients, but calls, voicemails, and emails are less effective with people under 40. But almost all texts are read within three minutes. Text Request makes live two-way texting possible for your business with our easy-to-use dashboard. People can text you, too, and we can even use your current phone number in many cases. Other businesses use Text Request to increase leads, grow revenue, improve operations, and drive customer satisfaction, all because of the power to connect instantly.
Using Text Request’s pitch as an example, we will outline how to write an elevator pitch, what information should be included, tips to consider, and things to avoid.
How do you write an elevator pitch for startups?
Capturing a person’s attention in a short amount of time can be a challenge. That is why effective elevator pitches are packed with vital information about the business (without being overbearing).
An effective elevator pitch should include the following important information:
Who you are
What you do
Makes live two-way texting possible for your business with our easy-to-use dashboard.
Why you do it
Business relies on communication with clients, but calls, voicemails, and emails are less effective with people under 40.
What makes your product standout
Businesses use Text Request to increase leads, grow revenue, improve operations, and drive customer satisfaction.
Who you serve
Businesses that rely on communication with its clients.
3 Tips for Writing an Elevator Pitch
1. Capture their attention.
Beginning with a question or strong statement that highlights the problem your business is solving is a great way to capture your audience’s attention.
Example: Your business relies on communication with clients, but calls, voicemails, and emails are less effective with people under 40. But almost all texts are read within three minutes.
2. The simpler, the better.
When an elevator pitch gets too technical and complicated, you will lose your audience. Remember, no one knows your business more than you do, and sometimes industry terms and concepts are not as widely known as you may think.
Example: Makes live two-way texting possible for your business with our easy-to-use dashboard.
3. Focus on an issue faced by your target audience.
What issues are they currently struggling with and how does your business solve their problems?
Example: Calls, voicemails, and emails are less effective with people under 40.
3 Mistakes to Avoid When Writing an Elevator Pitch
1. Don’t be a robot.
Having a well-prepared elevator pitch is essential, but you also don’t want to sound too rehearsed. There is a balance between being prepared and sounding like you have memorized your pitch word for word. Practice saying your pitch in a way that seems natural and will flow at networking events.
2. Don’t give too much away.
There is a difference between providing all of the important information about your business and revealing every little detail. You want to leave your listener wanting more.
3. Don’t be pushy.
An overly aggressive salesperson quickly makes people uncomfortable and uninterested. Your pitch should exude confidence, but do not make your audience feel pressured to invest or become a customer on the spot.
How can you improve your elevator pitch?
Improving your elevator pitch really comes down to one word – practice. It takes time to master a pitch. Do not feel discouraged if, in the beginning, you feel a bit shaky in your delivery — the more you do it, the more natural it will come to you.
The mentorship of a startup incubator can help you finesse your pitch, work out the kinks, and help you prepare to “go live” at upcoming networking events.