Elevator Pitches

Entrepreneurship II
© Babs Carryer, David Mitchell
What are they?

 Imagine you are in an elevator with someone

who is important to your business.
 You have from the time you both get on until
the time he/she gets out to convince that
person that yours is a great business
opportunity and warrants that person’s
involvement.
 Typically, elevator pitches are < 30 seconds
in length.
Who is this person?

 Investor
 Customer
 Business partner
 Key politician
 Someone who can help you network
 Any other person who may be useful to help
you realize your business opportunity.
The Goal:

 Your goal in the pitch is not to sell.

 No one will write a check after hearing an
elevator pitch.
 Your goal is to intrigue.
 If you have succeeded, you will get an
invitation to talk/meet later and/or send a
business plan.
What to say:

 Make the most powerful argument you can in

that time.
 Use aspects of your mission statement and
core business concept.
 Reference any recognized assets you may
have. (Patents, technologies, customer
validation, core competencies, etc.)
 In general, give the most attractive statement
you can in < 30 seconds.
What is attractive?
 If your targeted market is large, say so and
give an impressive figure.
 If your competition is failing, say so but also
be sure to say why you are better.
 Mention your key strengths and opportunities.
 Make sure you appear to be an expert in your
field.
 Make sure you look and sound like you did
your homework.
What not to say:

 Anything that would make that person think

you have something to hide.
 Anything that detracts from the opportunity
you are presenting.
 Anything that requires prior knowledge or
requisite background to make sense.
(Unless you know that this person has this
background).
Today’s exercise

 Pick a company:
 Choose from a list provided or
 Pick the company in your VOSG or
 Pick any other company (existing or fictional).
 Come up with an elevator pitch
 Present to the class and receive feedback.
 Revise and try again.
Company List
 For all the following companies, assume they
are in start-up phase.
Microsoft Sun Intel Ford Xerox
General Electric Boeing LaunchCyte
Philip Morris McDonalds Wendy’s
Ikea Ethan Allen AT&T
Target Pfizer K-mart 800Flowers
Cisco Coca Cola Subway
NVidia America Online Home Depot