Picture this: You step into an elevator and find yourself face-to-face with your dream investor. You’ve got 30 seconds to make an impression. What do you say? If you’re drawing a blank, you will miss the once-in-a-lifetime opportunity that could accelerate your business. In this guide, we’ll walk through 5 simple steps to create a compelling startup elevator pitch that’ll leave your audience wanting more.
What is A Startup Elevator Pitch?
An elevator speech is a brief description of your startup or your small business. The name comes from the idea that if you see someone in an elevator, you will be able to convince them to invest in your company in that short elevator ride, which is about 30 seconds. Having a well-structured and prepared pitch can have a huge impact on your business when you go to a networking event or conference because it greatly increases your chance of finding investors.
How To Create A Startup Elevator Pitch
Here are the 5 steps on how to create your own startup elevator pitch and how you can deliver your pitch perfectly when you see your potential investors next time.
Step 1: Define Your Unique Value Proposition
Defining your unique value proposition is crucial for your elevator pitch. When you pitch to an investor, they want to know what problem you are trying to solve and what values you are providing for your potential customers.
To do that, you have to first identify your target audience, because the solutions you provide have to be targeted to a specific demographic that has a specific problem
You should also dive deeper down into not just the values you are providing, but how what you are doing differently, which is your unique selling proposition.
If you are doing what everyone else is doing, the business idea is mediocre and unlikely to succeed. Having unique selling points allows your inverters to gauge the chance of success and increase their likelihood of investing in your business.
Questions To Ask Yourself:
“What solution am I providing for my target audience for this particular problem?”
“Are my competitors doing the same thing?”
Crafting a clear and concise statement of value can also help you define your unique selling points with clarity.
Step 2: Structure Your Pitch with a Proven Template
Start to create your startup elevator pitch with this proven template.
Introduction: Who you are and what you do
Start by introducing who you are is the first and most basic information you should include in your pitch.
Include a summary of qualifications you have that can spark the interest of your investors and let them know why they should listen to you.
Problem: Identify the pain point you’re addressing
Next, state the paint points or the problems you are trying to solve. What specific problem/problems are your target audience facing?
Solution: How your product/service solves the problem
Explain how your product/service can help your target audience solve this problem
Benefits: What makes your solution unique
Don’t just provide your solution, tell them what makes your service or product stand out among others. What is your unique selling proposition?
Call to Action: What you want from your listener
Finally, you tell them what you are after. They don’t always, or usually can’t make a decision right away, you can give them your business card or your number so they can contact you.
Step 3: Inject Personality and Passion
Use Vivid and Engaging Language
you want to use vivid and engaging language that keeps your listener engaged or even visualize what change your solution will provide. “Imagine if……” is often a good way to start.
You should also think of some good hooks to grab their attention.
Hook Statement Examples
Imagine if you can increase your output by 20%.
I have 40 years of experience in SEO and I know all the ins and outs of this industry.
Incorporate A Personal Anecdote
Including a story will make your pitch sound more appealing, and it doesn’t have to be yours. People buy stories more than ideas.
Show Enthusiasm
Show them how excited and enthusiastic you are about your business or products through your tone and body language, which tells you how hard you work.
Vary Your Pitch
Your startup elevator pitch should not be the same every single time. It should be modified according to who you are pitching.
You might want to emphasize the story to someone who is more emotional, or highlights the market demand if they care more about the chance of success.
Step 4: Refine and Memorize Your Pitch
Time your pitch (aim for 30-60 seconds)
Make sure that your pitch is between 30-60 seconds so you can deliver all the information you need in time.
Eliminate Jargon and Complex Terms
Avoid using any jargon or complex terms, they might not understand what you say. Do it as you are pitching to a 5-year-old, you want it to be as easy to understand as possible.
Practice
Practice, practice and practice, either in front of a mirror or with friends. If they can understand what your business is about in 30 seconds with no knowledge of that industry, you are on the right track.
Record Yourself
Another thing you should do is record yourself and analyze how you deliver your pitch. Pay notice to your facial expressions, tones, speed etc and make it better.
Step 5: Test and Iterate Your Elevator Pitch
Seek Feedback
Get some feedback from your mentors or peers. We often have the wrong perception of how good we are, and others can tell us where our blind spots are.
A/B Testing
As mentioned, you should have different versions of your pitch, create a few versions and test each one of them to work out which one is suitable for which type of listener.
Adapt Your Pitch
It will be different in a real-life scenario. Having this expectation is important so you won’t be de-motivated. Adapt and adjust your pitch according to the situation.
Continuously Update Your Pitch
Refine your pitch as your business grows. As your business grows, you will have additional information you want to include, such as your statistics, revenue, and growth rate.
Startup Elevator Pitch Template
Here are some elevator pitch templates and examples you can use as a guide:
Template 1:
Hi， I am [Your name]. I [experience/certifications] and I [what you do]. [Your target audience and what problem they are facing] by [provide your solution]. I [your personal anecdote/story] so I started this company. We [state your unique selling points] and [revenue/sales you have made]. [Ask what you want]
Example:
Hi, I’m Bob and I’m a chef a father of three. I sell online cooking courses for single dads. Many single fathers are struggling to cook meals with enough nutrients for their children beacause they don’t have to time. When my wife left I had the same problem and I understand the sturggles and how difficult it’s when you have to work full-time and cook health meals for you children everyday. I learned how to cook and eventually started my business “ChefDad,” which teaches single dads how to cook delicious meals for their children so they don’t have to order fast food everyday. All of my recipes are simple, healthy, and can be done in under 20 mins.
Over 1000 singles dad have subscribed to my online courses and I have made over $600k in revenue over the last 12 months. I am looking for investors to grow my business. If you are interested, here is my business card, we can meet up can chat about it.
Template 2:
Did you know that [statistics/facts]/Imagine if [ideal situation]. [Personal anecdote/story]. That’s why I/we started [your company]. [Your company] aims to [your target audience and their problems] by [solution and unique solutions]. We have [proofs]. [Ask you what you want]
Example:
Did you know that 6 million men suffer from depression per year? My name is Alex and I had depression for years, I didn’t want to talk about it with others and it ruined my relationship with my friends and family. I eventually got out of depression with the help of my best friend and I want to help others like me. That’s why I started “MenTal Matters”, an app and an online community where men with depression can support each other anonymously.
We have 960k active monthly users and the numbers continues to grow. I am looking for someone to join me in this adventure to help me grow this community so all men who suffer from depression can be supported.
Conclusion:
Congratulations! You’ve now got the tools to craft a killer elevator pitch that’ll make stop everything they are doing and listen to you. Remember, a great elevator pitch is more than just words – it’s your passion, your vision, and your unique value all rolled into one powerful package. As you put these steps into practice, you’ll find your confidence growing and your opportunities expanding. Who knows? Your next casual conversation could be the start of something big. Don’t just pitch – inspire, engage, and leave a lasting impression. Your entrepreneurial journey starts with these 30 seconds – make them count!
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