An elevator pitch has several definitions – a conversation, a lead generator, and an ice breaker, a brief and persuasive speech that sparks interest – that can catch the attention of a potential client or bore them to tears. The short, yes, very short, about 20-30 seconds short, should leave potential clients interested in you and your business rather than leave them feeling like a punching bag.
Passionate entrepreneurs are just that – passionate. They tend to get caught up on the minute details while their potential clients have gotten off the elevator without getting a true feel of your business. There goes that opportunity!
Below are common elevator mistakes that should be thought about the next time you step on an elevator:
1. Too literal – Don’t give a laundry list of your daily tasks or give them non-pertinent information. That’s the fastest way to lose their attention.
2. Leading with the company’s story – While any potential client or investor wants to know the background of your business, an elevator pitch isn’t the recommended time to lead with your company’s history. Save it for a second meeting.
3. Too general – You might have a great pitch, but to investors, they may have already heard it. Meaning, you don’t stand above your competitors and potential clients will tune you out before the elevator ride is over.
4. Name dropping current and past clients – This isn’t professional, unless it is furthering your message. Don’t use this method to try to impress potential clients.
5. Forgetting to talk about your team – Potential clients and investors not only want to invest in your product or services but also the people who can support them.
6. Being unprepared – You and your company will lose credibility if a potential client or investor asks to see documentation and you don’t have any readily available. Always carry business cards wherever you go, you never know who you will meet. Also, don’t forget to send a follow-up email or note. Many deals aren’t secured in 20-30 seconds.
An elevator pitch is also great to use at networking events. This 20-30 second pitch should be engrained in your team’s mind, no matter what department they are a part of.
Do you have other common mistakes that haven’t been mentioned above? Join in on the conversation with us on Twitter: @StudioBrandC