I’ve seen a nice video today defining elevator pitch. The summary and key points of the video is as follows.
What is an elevator pitch?
An elevator pitch is a short discussion or lecture that occurred in a very short amount of time like the discussions happened during climbing by an elevator.
Elements of Elevator Pitch
A good elevator speech is composed of two key components:
- Layout the pain statement (What problem you are trying to solve)
- You must show the value proposition (How does your venture solve that problem)
Is it Easy?
No! It needs to pass 4 tests.
- Succinct (After all you’ll get no more than 2 minuets)
- Easy to understand (Both your grandma and your grandkids have to get it)
- GREED inducing
- Irrefutable (if more questions than answer, go back to the drawing board)