Have you ever been so excited that you couldn’t contain yourself or communicate effectively? Passion and brevity rarely accompany one another. Entrepreneurs are passionate by nature, and they can usually talk about their business for hours. However, it’s extremely important to be able to communicate your business idea in a concise manner. A business elevator pitch gets at the heart of the matter and conveys your mission, vision, and activities in less than a minute (roughly the amount of time one spends in an elevator!)
I’ve seen the value of a business elevator pitch time and time again. When I worked as the Director of Marketing at Andrew Wommack Ministries, we had an entity called Seven Mountains where we did business consulting. One particular client had a fantastic business idea that revolved around creating guidelines for youth sports. The business taught children the hard skills of how to play sports as well as character building. Many people were interested in the concept, yet he couldn’t close a deal. To investigate the issue, I asked, “What do you tell people about your business?” Like many entrepreneurs, he went on and on, and like most consumers, I checked out. I realized that a significant reason why he wasn’t closing deals was because of poor creative messaging. We helped this client create a solid business elevator pitch with these seven guidelines, and we trust that they will help you, too.
To learn more, listen to this blog’s corresponding episode on The WealthBuilders Podcast.
7 Guidelines to Use When Brainstorming a Business Elevator Pitch
1. Identify your target audience.
– Who are the ideal customers you want your business to serve?
2. What is your target audience’s core need?
– Consider what would motivate them to purchase your product or service.
3. Identify the solution your target audience would use if your company did not exist.
– Evaluate the competition.
4. How does your product or service meet the need of your target audience?
– This is the time to get specific. What are you doing to deliver?
5. How will your product or service change your customers’ lives?
– Whereas #4 was transactional, this question is transformational. The depth will help you establish the core messaging in your business elevator pitch.
6. Identify how your offer blesses people.
– If you have a team, this is a great discussion to have internally.
7. Craft a statement of identity.
– This is a sentence or two that concisely describes your mission and vision in a way that lines up with the core needs of your target audience.
We hope this blog has helped you brainstorm your business elevator pitch. If you would like to share your business elevator pitch or have any practical tips for creating one, please do so in the comments!