How To Write a Business Plan Part 2 – Elevator Pitch How To Build It on this Business Podcast Episode
Summary
Part 2 of How to Build Your Business Plan where I dive into a new, easy to use template I developed for myself to quickly develop elevator pitches for my companies. I’m sharing it with you.
Your elevator pitch is a short, persuasive speech you give to spark interest in your company, product or service.
A good elevator pitch should last between 15 and 45 seconds; you guessed it, about the time it takes to ride an elevator.
I lay out the fill in the blank, shortcut, to create your elevator pitch in this episode and all in less than 15 minutes
A full transcript of the How to Build Your Elevator Pitch podcast episode is below
Hey, everyone, welcome to another episode of Build a Business Success Secrets I’m your host, Brandon C White. And today is part two of how to build a business plan in 13 slides. And today we are focusing on your elevator pitch, probably one of the most important assets that you can have for your business.
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Let’s not waste another second. Get around to the episode. All right, we are on your first slide of your 13 slide business plan on slide number one. The only thing that you’re gonna have on there is your company.
Name your logo. Potentially a tagline if you have one and your contact information and when you show this slide, whether it’s to a customer potential customer, a investor that your pitching briefing your team internally, you want to deliver your elevator pitch.
Now your elevator pitch is a persuasive speech. Almost a steam. It really that you give in less than one minute. Ideally, you’re doing this in 15 to 45 seconds. Just think of riding an elevator and how long you have from the time you hit your floor to the time that door opens, that’s it.
And a really good exercise that I’ve used when I’m practicing my elevator pitch is to have a timer there. There’s some maps. Actually, the iPhone has a built in timer. Now that visual. Sometimes I use a hour glass. That’s not really an hourglass, but it is a one minute, 45 or 32nd glass, if you will.
And I like that because it’s visual and I could watch the sand fall. I know much time I have. You can buy these on Amazon they’re easy enough to get a hold off.
The one thing that I do want to say before I give you this template is if you get frustrated, understand that that is normal.
Building elevator pitch is really hard. It sounds simple, but making anything simple is really hard. You have to boiled down your product service in company in less than 45 seconds. You have to make it so clear, and this is really hard to understand.
When you get into this and if you’re in the middle of it now, then you’re already probably feeling frustrated that you will be frustrated and that that happens. That’s okay. It’s part of the process. You have got to practice the key toe.
Having a successful elevator pitch is revise, revise, revise, practice, practice, practice, practice on yourself, tape yourself, practice on friends, practice on family practice on strangers and look at their face when you’re talking to them and get that feedback, I would bet they don’t have to say anything. You could just watch their body language, and you will get feedback about how your pitch is coming along.
So I broke this down into a template that’s been helpful for me whenever I’ve started the company or we come up with a new product or whatever that is that I just fill in the blanks and give it to you today so that you could fill in these blanks and get you started.
And then you are gonna mold this ad. Your sauce. Add your voice, your personality, your company personality, your brand voice, whatever that is to make it your own.
So let’s go over this template that you can feel it. You start out by describing the problem you are solving for your customer. This is the first thing you do, so it might start out with phrases such as “You know how hard this is or you know how it feels when or can you imagine?
Now what I’m trying to do in these elevator pitches is I’m trying to turn off the logical side of people’s brain in turn on their emotional side of the brain. So the first thing I’m hitting is putting that problem up front and engaging in some sort of emotion.
And that is because people buy with emotion in the user logical side of the brain to rationalize it. If you engage people on your functions, your features and all this stuff, they will use a logic part of their brain toe logically find a reason not to buy from you, and that is not what we’re doing here with your elevator pitch.
We want people to engage what your product gauge what your company join your team by engaging or invest in your company. That is what we’re trying to do.
So you know how hard it is to find files on your computer or in the cloud when you’re looking for him. Another example. You know how hard it is to find a file in your email. That would be an example.
So I’m gonna build on this as we go through.
The second is is pick a feeling and really nail it. So you’re really emphasizing this feeling For a second time? You put the problem up front, which some sort of feeling. But now you’re gonna nail it.
So you know how hard it is to find files in your email that you know you have but you can’t find. Isn’t it frustrating to know that you are completely wasting your time? You feel like it.
Now, if you’re like me or a lot of people, you know, the feeling that I’m describing to you because you’ve had it and I’m engaging that now I’ve got you because I’m sure, as I just said, that you start to think about a time when you were looking for a file in your email or in some repository, I’m sure that happens to all of us.
And then stage three or Step three is described how your product solves the problem you described above so again describe how your product solves the problem you described above no hard.
It is to find files in your email when you know you have him, but you can’t find him. How frustrating is it to believe that you’re just wasting your time? Well, boy, do I have a solution for you? File Finder solves that problem by aggregating all of your attachments in one place and allows you not only divine files by keywords that you can’t remember, but by people, places, time topics in groups. Does that sound interesting? You wanna learn more?
Do you see how that flowed? Now that came off rolling off my tongue because I practiced it. A lot of an investor in file finder That actually helps you find your files faster with a major problem that we all have.
But what I’ve done is I’ve gotten you emotionally involved. Now, I didn’t tell you the functions and features that it has. I even mentioning that all I’ve said is now you know how hard it is to find files in your email that you know you have, but can’t. Five. Isn’t it frustrating? How much time you waste, boy? So I was solution for you. It’s called File Finder. It organizes all of your files in one place and allows you to find them not only by keyword that usually you can’t even remember, but by people place time Top is in groups. You want to learn more about that.
Now that is, that companies pitch filed under You want to build something very similar, and by using this script first describing the problem you are solving, then pick a feeling describe how your product solves a problem you described.
That is your elevator pitch. You want to deliver it in a smooth, easy to understand way.
Now there’s two options, depending on your situation. In your time, you could talk about how you differentiate yourselves from other companies and or then end with your name and who you are with the company. But the last two pieces are optional.
They’re not needed because I bet you’re interested. After I give you that elevator pitch for File Finder in learning more now, you’re gonna ask me questions. I don’t ask you any questions.
That’s the goal here. Engagement interest. Get them asking you questions once they ask you a question, giving you permission to answer and they’re goingto pay attention. This is where you hooked him. So is what you’re gonna work on for your elevator pitch.
I hope this is helpful. And if it is, or if you want to practice, I’m happy to read them, or I’m happy to listen to them.
Send me an email with the script or tape it. Send me a file. Sent me a YouTube video. Whatever. That is a happy to give you some feedback. If I don’t get back to you right away, I will get back to you. I get a lot of emails, but I’m happy to hear your elevator pitch my email B at Brandon C white dot com.
Use this template as a shortcut and start perfecting your elevator pitch. How good was that? I hope you enjoyed it. And like I said, having your elevator pitch is one the most important things that you can after your business so that you can picture business in under a minute.
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