The company pitch

The 'elevator pitch' is a powerful weapon that we entrepreneurs have to sell the idea of our business as concisely as possible. Let's say you meet an old acquaintance and he asks you about your new venture, but it is very complex to explain and while you put your ideas in order to convert them into words, your interlocutor has to leave. If you had been previously prepared, most likely you would have briefly summarized about your company and created a new contact as a potential support for your venture.

This is one of the many examples in which an elevator pitch would have been extremely useful. Also at networking events you will make a lot of use of this tool, as you have little time to make a satisfactory first impression. Always have your pitch ready because you don't know when you will meet a person of interest who will want to inquire about your company. When you decide to enter the sales universe, every person you meet is a potential customer.

Characteristics of the elevator pitch

Once you are clear about your business idea, your financial projections and your specific sales strategies, you can then compose your pitch decisively. You will then compose a short speech that clearly, succinctly and convincingly expresses what your venture does.

An elevator pitch, as the name implies, should last no more than 20 to 30 seconds, or the length of an elevator ride. It has to be brief, engaging and memorable.

Within its content it should touch on what your business does, your product or service, your entrepreneurial idea, in short, what makes you unique and what problem or need you can solve for the listener.

You must focus your speech in such a way that any potential customer who listens to it will take away the idea of the problem or need that your company can satisfy in a unique way so far in the market.

If you do some online research on elevator pitches, both in articles on the subject and in specialized business books, you will see that most of the time they are described as: "a description of your company tailored so that the listener remembers and trusts the particular and precise details that you present in the pitch about your business.

Many articles recommend using the elevator pitch as a description that clarifies and helps customers remember your company. But this definition falls short, as it fails to mention the potential it has as an effective tool for your sales efforts. A good elevator pitch far surpasses a business card or brochure, which are typically used as informational media about the venture.

Far beyond that, crafting a good elevator pitch can be the difference between completing a sale on the spot or having to postpone it for clarification.

You must craft your elevator pitch in a way that makes the listener feel a compelling need to hear more about your company and want to buy the product or service you offer right then and there.

In the 30 seconds or minute that you have your listener's attention, they should leave with a feeling that they need your service or product, that it will be of benefit to them and that they want it as soon as possible.

You will not always be able to make the sale right then and there, but you should at least try to arrange a later meeting at another location where you can complete the sale or even increase it beyond what you had initially planned.

Being as persuasive as possible is one of the key aspects of a quality elevator pitch. Don't ask questions that lead to a "no" answer.

Example: Here is an example of a poorly crafted description to show you what not to do:

• "My coffee shop serves great food and has the best customer service."

This brief description is very unspecific, and it merges with hundreds of other coffee shops with delicious food and good customer service. In other words, you haven't said what makes your coffee shop special and unique. You fail to delineate what specific need you can solve for the customer to choose your coffee shop over all others.

Example: Most business coaches will agree that the above description lacks detail and will recommend one like this:

• "My cafeteria serves Mexican cuisine foods prepared with completely organic ingredients and also vegan options."

This description is relatively good, but not as comprehensive as it could be. This example goes into more detail and touches on aspects that separate it from the rest of the cafeterias. But it still fails to be as convincing as it could be, it doesn't persuade the customer to go as soon as possible to visit that coffee shop. It fails to answer the most important thing, which is to respond to a specific need that the customer has and wants to solve.

Steps to make an elevator pitch

The process of making an elevator pitch can be long and most commonly you will use multiple versions until you choose the most polished one as the final one. You'll have to go through a lot of trial and error until you create one that sounds natural in conversation, no matter what topic you're addressing. Here are the steps you should follow to make an elevator pitch.

Presentation

The first thing you should do is, of course, introduce yourself. Good entrepreneurs usually start with a short introduction. You can use a simple introduction where you state your name and the name of your company, although I recommend that you try to make it as personal as possible, so that it seems more natural. Pay special attention to your body language and eye contact, these are key factors in creating a good rapport with your interlocutor.

Here are some tips that can assist you in your presentation to potential clients:

• You must treat them in an appropriate way depending on the environment you are in. Learn to read the environment to adapt more easily to your interlocutors, do not extend your hand to a person who you know prefers a hug.

• In virtual meetings use creative methods to form these bonds, using resources such as light banter to break the ice and gain everyone's attention.

Presenting the problem

In order to offer a solution you must first present them with the problem. Whatever need or problem your company is going to solve must be presented at the beginning of your elevator pitch to set the stage for the continuation of your pitch.

An example of a problem you can present to your customers is how they organize their time to eat healthy and go to the gym regularly. This way you ground the problem so that it is more appreciable and gains your speaker's attention more easily.

In case the problem or need is not so simple to explain, try to use more examples or visual aids to simplify its understanding.

Presenting the solution

After having made the problem or need clear, then present the solution offered by your company. If the problem is what captures the attention of customers, it is the solution that wins them over.

In this step you show them why they need your company. I give you the example of the coaching business, which offers its clients an individualized method to better manage and organize