A strong elevator pitch is a primary tool when looking to raise funds. Most entrepreneurs are so passionate about their ideas that it is really very challenging for them to write their elevator pitch succinctly.
So much is exciting, and everything is important. However, an investor is only interested in two things: Is the idea unique and differentiated? Is it feasible?
We offer a simple hack below. Other sources, such as Business News Daily, offer a more elaborate approach. Which every you chose, and effective elevator pitch is critical to the fundraising process.
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Simple Hack to Write an Elevator Pitch
Here is a simple hack to writing an elevator pitch which gets to those two points quickly and clearly. It’s just two sentences, but they contain all the information a potential investor needs.
[Enter Company Name] is the ONLY [Enter Industry or Competitive Set] that provides [Unique Point of Difference]. That’s because [Support Claim #1] and [Support Claim #2].
That’s it. Done. Let’s look at an example of a fictional elevator pitch for an electric car.
An Example of How to Write an Elevator Pitch
Turbo X is the ONLY electric car that provides zero carbon emissions without sacrificing performance. That’s because our patented engine design, which provides rapid acceleration, and our patented battery, which provides up to 300 miles/charge.
See how succinct that is. In less than 5 seconds, you’ve conveyed how you are unique and why. You’ve also proven your knowledge of the key drivers and needs of the category. It shows your mastery of both.
Key Points: Knowledge of the Category, Company, and Its Unique Place within it.
Of course, it implies that the investor is knowledgeable about the category, but you shouldn’t be giving an elevator pitch to someone who isn’t. They aren’t likely to invest in industries in which they don’t have experience.
The key to writing such a clear elevator pitch is to know your company, your market, and your unique position within it. That can be the tricky part. This requires a solid business model and competitive assessment, but it is well worth the time and investment. Without it, your elevator pitch will not be as powerful as it should.
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