Elevator pitch idea was gotten from an imagination of you pitching your startup to an investor in an elevator that is due to land in less than two minute, now put yourself in that situation and begin to think of best ways to explain it in order to convince him and make him understand what you are doing.
Aside from startup founder, every business man or woman should have this at his fingertips.
This pitch should not be something that will be sound personal or look like you are bragging, it should contain the basic thing your startup is doing.
How to Create an elevetor pitch
You have to know what you are doing in the startup.
If you are someone that like following the shining object and jumping field every now and then, am afraid you cannot present somthing tangible.
You have to stand for something just like what this blog is does, anybody you ask about us , am very sure he will tell you, we are a technology blog.
what do you stand for and what do you want others to remember about you. As you know in the world of online business it is either you are known for one thing or you are known for nothing especially as you are stating our at the very beginning.
know your field and what you stand for.
Be able to explain the problem your startup is solving in few word.
If possible write it down and see how many sentences it’s will contain.
Your startup will not solve all world problem definitely you know that, what is that single problem you create this startup to solve ?
The solution to the problem.
This where much of your time will be consumed since you are you the original owner of the ideas, i guess you will not spend much time explaining how your idea is going solving the problem.
Solution to a problem has a starting point, try as much as possible to include that in you pitch.
What is the revenue stream?
How are you able to make money. every investor or let say anyone listening to you will like to know how you able to make money in the startup.
Clearly explain your revenue drivers in the startup.
|Source Techpoint Inspired|
How much have you invested in the startup so far?
You must have invested your own personal saving in order to grow the startup to where it is today.
no investor will want to invest in a company that the founder has not spend his own money on it, it sounds so bezzard.
If you are really passionate about the problem you are solving, then put your time, financial resource in order to see it grow before meeting an investor.
What are the numbers, I mean the trajectory, what milestone have you reach, number of signup, subscriber, customer base, present it to him and it will go a long way in making him realize the potential of what you are doing?
Number don’t lie, do every possible to increase those number of your target customers and users.
who are your competitors in the marketplace?
Don’t tell me you are the only one in the market, because definitely someone, somewhere must have try to solve a similar problem to your in a different approach, find them.
knowing this will make the person listening to you understand how far you have made your research.
Finally, there are no hard or fast rule with regard to the way you present your pitch, i will want to recommend you put atleast four of the above-listed points in your pitch,
Having some of this point and how your elevetor pitch will be structured and presented is some thing you should have at your fingertips because you might never know who you might meet at a social gathering or meetup that will be interested in what you are doing.
Especially when you are looking for investment,
Elevator pitch should be your clearing ground for you in this situation.