An elevator pitch is a very short and concise presentation of a business idea, a start-up or a product. The aim is to convey the core idea in such a clear and compelling way that it captures the interest of potential investors, customers or partners within a short space of time – typically within 30 to 60 seconds.
The term is based on the idea that one could explain one’s idea in the time it takes to ride a lift („elevator ride“).
A good elevator pitch usually includes:
- a clear description of the problem
- the solution or product presented
- the specific benefits for the target group
- the unique selling point (USP)
- where appropriate, a reference to the market or target audience
The elevator pitch helps with this:
- How to grab someone’s attention quickly
- to communicate complex ideas simply
- To generate interest in discussions or follow-up meetings
- Making the most of networking opportunities
- to refine the core of a business idea
A compelling pitch is particularly important for start-ups, as initial contacts with investors or partners are often very brief and decisions on whether to proceed to a more in-depth discussion are made within a matter of seconds.
innoWerft helps founders to develop clear and effective elevator pitches, to get to the heart of their business ideas, and to prepare themselves as effectively as possible for meetings with investors, pitch events and networking opportunities.