The Elevator Pitch

1
The Elevator Pitch

• Pitching in 30 120 Seconds

2
What is an Elevator Pitch?Context of
Entrepreneurship

• A business-oriented, purposeful verbal message as
  fast as a ride in an elevator (30 -120 seconds)
  in understandable language also for technology
  areas
• A concise, carefully planned, and well-practiced
  answer about yourself, your business, your
  firm, your project etc.
• A situation with an opportunity to sell your
  companys identity and set yourself apart from
  other entrepreneurs

3
What is an Elevator Pitch?Business Plan Context
Elevator Pitch a back-of-the-envelope business
plan

• Elevator Pitch
• The problem (need) you are going to solve
  (satisfy)

• Your solution, your answer
• Your value proposition

20 Minute Business Plan Presentation
4
Elevator Pitch Situations

• All conceivable constellations to initiate
  linking investors (backers sponsors, decision
  makers) and entrepreneurs (intrapreneurs)
• (A startup) searching for financial backing or
  cooperation partners
• Meeting someone (accidentally or intentionally)
  at
• Competence Network Partnering-Events
• In firms Meeting a big boy in the canteen,
  plane, in the lobby of an airport,

5
Approach

• Give people a hook by talking about something
  that really interests them
• It must be succinct, to the point
• Focus on one simple message
• Make it simple and easy for people to contact you
  after the pitch - give them an incentive to seek
  you out
• For investors It must be greed
  inducing(inducing expectations of big profits)

6
Presenting The Rule of Three

• The Hook" Get attention andinterest
• The SubjectExplains and provesyour point with
  passion (investors expect energyand dedication
  from entrepreneurs)
• Should induce desire (greed inducing)
• Use the Concept Summary as a framework   
• The CloseCall to action or demand for reaction

AIDA!
7
An Elevator Pitch Template

• WHAT you do
• WHOM you serve
• HOW you deliver
• BENEFIT(S) for clients
• EXAMPLE (What are you doing?)
• "I WHAT helping verb WHO target
  market/ideal customer
• _______ _______ _______ _______
• HOW deliver what the customer wants
  BENEFIT key benefit or wanted result"

8
USP Template Wording

• USP (Unique Selling Proposition) Template
• Sentence 1
• For (target customer)who (statement of the need
  or opportunity),the (product/service name) is a
  (product/service category)that (statement of
  benefit).
• Sentence 2
• Unlike (primary competitive alternative),our
  product (statement of primary
  differentiation).

Slide 9.23 Ref. Dorf Byers, p. 250
9
USP/Elevator Pitch Other Uses

• If the startup/NTBF is launched and has a Web
  site, a USP should appear on the firms Web site
  under the headings
• Home,
• Company or
• About

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Call to Action

• Based on provided material create and present an
  elevator pitch
• Based on the template (Slide 7)
• One lasting 30 (-45) seconds
• One lasting 120 (-150) seconds(start with this
  one and boil it down)
• Based on the USP-approach (Slide 8)
• one lasting 100-150 seconds