Three Elements of an Effective Elevator Pitch

To help prepare your elevator pitch (whether to secure investment for your business or to communicate your sales proposition) you need to take a three-step approach and address these key elements of your business:

1. “What is the problem or “pain” in the marketplace that your business addresses?” A good way to address this element is to ask a question. For example:

Did you know that the average small business wastes approximately $1,250 in energy costs each month simply because electronic assets are left to operate on maximum power 24 hours a day?

2. “How does your business or its product solve this problem?” And, in this case, the (purely hypothetical) answer might be:

With our patented energy usage monitoring system – ElecTrack – business owners can monitor energy consumption across all their electronic assets and remotely deactivate non-business critical equipment and appliances when not in use.

3. If you are developing an elevator pitch to help communicate your sales proposition, you should ask yourself: “What is the main benefit you give?” For example:

ElecTrack can help you save thousands of dollars a year on your business utility bills.’