Your Elevator Speech, Effective or NOT?

One of the most important marketing tools for every business, large or small, is your elevator speech OR 60 second commercial. When you introduce your business, what are you saying? Are you making a lasting impression? Do people walk away with a '?' OR are they in awe about your product or service? Do you have an effective elevator speech?

What is an Elevator Speech?

An "Elevator Speech" is a concise, carefully planned, and well-practiced description about your company usually summarized in approximately 200 words or less and in 45-60 seconds. Your elevator speech should highlight your company's mission and focus on the benefits that YOU provide. In the delivery, whether networking or meeting a potential client, it should be done with much enthusiasm and direct eye contact. It should contain a 'hook' statement that engage the listener(s), thus, prompting them to ask questions and keep the conversation going.

According to Robert Pagliarini of SeekingCapital.com, there are six questions your "Elevator Pitch" must answer:

1. What is your product or service?
   Briefly describe what it is you sell. Do not go into excruciating detail.
2. Who is your market?
   Briefly discuss who you are selling the product or service to. What industry is it? How large of a market do they represent?
3. What is your revenue model?
   More simply, how do you expect to make money?
4. Who is behind the company?
   "Bet on the jockey, not the horse" is a familiar saying among Investors. Tell them a little about you and your team's background and achievements. If you have a strong advisory board, tell them who they are and what they have accomplished.
5. Who is your competition?
   Don't have any? Think again. Briefly discuss who they are and what they have accomplished. Successful competition is an advantage-they are proof your business model and/or concept work.
6. What is your competitive advantage?
   Simply being in an industry with successful competitors is not enough. You need to effectively communicate how your company is different and why you have an advantage over the competition. A better distribution channel? Key partners? Proprietary technology?

This is an Example of My Elevator Speech
Hello, my name is Sylvia Browder and I am Project Director, Business Coach and Consultant for the Women's Business Center, Inc. The Women's Business Center is a non-profit organization and our mission encompasses empowering women to start and grow successful businesses. Our services include one-on-one business coaching and consulting, mentoring, workshops, seminars and we are also technical assistant providers for the SBA community express loan program. Oh, by the way (I always add this plug for the benefit of potential male clients who looks disappointed that we don't offer services to them). 'Don't worry guys, we also provide services to you.' For more information, please feel free to contact us at www.womenbiz.biz or call 251-660-2725 for an appointment.

In closing, you should continually perfect your elevator pitch to ensure that it is fresh and reflect your company's growth. Always be sure that when you are pitching it, you are passionate, persuasive and leave a lasting first impression.

Sylvia Browder currently works as a Project Director, business coach and consultant for the Women's Business Center, Inc., a non-profit economic development organization with a mission of empowering women to start and grow successful businesses. She also serves as a volunteer SCORE counselor, an organization dedicated to educating entrepreneurs and the formation, growth and success of small business nationwide. She is also a Technical Assistant Provider for SBA's Community Express Loan Program. She can be contacted at sylviabrowder@bellsouth.net.

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