KISS: How to Create an Elevator Pitch
Hi! Kathryn here. The secret to creating an awesome elevator pitch is to K.I.S.S., aka "keep it simple sista"
A great idea alone isn’t enough to build a successful business. You need an idea that solves a problem so well that a meaningful number of people will pay market rate for your solution- otherwise you just have a hobby.
Clearly communicating how your service/product solves a customer’s problem better than anyone else is incredibly important to growing your business. Your unique solution to a customer’s problem is also known as your value proposition.
I find the best way to communicate a value proposition is to put it into a format called an elevator pitch. Your elevator pitch is a brief summary of your value proposition that you can use to communicate your company’s value to a potential investor/customer in the time it takes to ride an elevator between floors (think less than 30 seconds). While you may find your product/service to be the most exciting thing since sliced bread (invented in 1928), other are just getting to know you and your idea. Keep it simple.
Time boxing your pitch is incredibly important because, frankly, most people start to lose interest in what you’re saying after 30 seconds.
For more wisdom on building your business, be sure to check out my bestselling book, Build the Damn Thing, on Amazon!
As a fan of Ad-libs, I like to use the below format to help draft solid pitches:
The problem I’m solving is _____________.
The idea I’m building is _______________.
This is a problem for_________________.
The problem occurs this often __________.
The customer currently solves this problem by ___________.
Customers currently pay $______ to solve it.
If you can answer all of these questions for yourself and condense them into a brief summary, you’ll be ready to communicate to potential investors and customers.
Get Build the Damn Thing Podcast in Your Ears Now!
Build The Damn Thing podcast, based on my bestselling book, is on Apple Podcasts, Audible, and Spotify! Season 3 is available now. Check out the How to Make Sure Your Business Solves a Problem episode from Season 2 for more on how to define your value proposition.
In next month’s newsletter, we’ll discuss how to create your own personal advisory board. And remember…Keep Building the Damn Thing!
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