Friday, March 13, 2009

You, Mom and the Elavator

If you were taking a two-minute ride up an elevator with your mom, what would you tell her about your business? Could she then turn around and give that same basic sales pitch to her friends to tell them what you do. It's an interesting concept, especially when most people take their two minutes to hawk their products and services rather than explain what they do.

To Pitch or Not to Pitch
Some healthy debate came when a couple of BRN members said they preferred not to give elevator pitches because they either sound canned or it didn't fit their personality. A guest brought up the point that they were told that their elevator pitch should be no more than 30 seconds. Another person weighed in that we should all have 10-12 elevator pitches that we can pull out depending on the audience and situation. Those are all valid points.

But what happens when you find yourself in a networking meeting where you are given the opportunity or asked, "take a couple of minutes to tell us about your business"? Do you stop at the 30-second mark? Do you only offer a 10-second tag line and yield the rest of your time? Should you offer an elevator pitch that is not well-rehearsed and sounds canned?

Practice Makes Perfect
We took time in our meeting to address six questions that an elevator pitch must address:
  1. What is your product or service?
  2. Who is your market?
  3. What is your revenue model?
  4. Who is behind the company?“
  5. Who is your competition?
  6. What is your competitive advantage?
Once we answered those questions, we offered up the draft of our pitch to the group for critique. Knowing that the pitches were going to be rough, we were all able to offer candid and constructive feedback. Some had too much. Some were too little. Others didn't spend enough time focusing on our competitive advantages or narrowing in on our products an services. But, we all got off to a good start in thinking about how we tell others what it is that we do.

Homework
The homework this week is to refine our elevator pitches and post them here for others to review and critique. Even if you didn't attend the meeting, please feel free to participate in this exercise.

Happy pitching!

5 comments:

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  3. great meeting this week. It wasn't as advanced as one might think it should be, but to develope a "elevator pitch" and open it up for other peers to share thier comments on was invaluable. It was nice and refreshing. Back to the basics, they're called that for a reason right?? Gave me good insight not only on how I see my business, but how others may as well. Thanks

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  4. Robby, nice revision. Gives me a better insight to what you do.

    Javid, it's great to hear that members are learning. Even as a marketing professional with 25 years experience, my elevator pitch sucked! I can help everyone else work on theirs, but I neglected refining my own. Isn't that the ol' "cobbler's kids" story?

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