Step 1A
30 Second Elevator Pitch
An elevator pitch is a brief description of an idea, product or company that explains the concept clearly and concisely so it can be understood it in a short period of time, like the time it takes to ride an elevator.
500 Startups mentor Elliot Loh came up with a template that can be used to draft an elevator pitch for a startup:
We solve [problem] by providing [advantage], to help [target] accomplish [target’s goal].
Depending on the stage of your startup, you might follow it up with a second sentence about your business model:
We make money by charging [customers] to get [benefit].
He gives the following examples:
- For the company Geni: “We solve the problem of genealogy by matching possible relatives, to help genealogists create one accurate world family tree. We make money by charging enthusiasts for enhanced search and other premium features.”
- For Yammer: “We make companies more efficient by providing a live feed of comments and questions, so employees can find answers more quickly. We make money by charging companies that want administrative control on their employee networks.”
Once you have written your elevator pitch using this template, you can tweak the language so it sounds natural and is in your own words.
Click next once you have created your elevator pitch…