How To Write a Business Plan Part 3 – Elevator Pitch 3 Mistakes to Avoid
Summary
Part 3 of How to Build Your Business Plan where I talk about the three common mistakes entrepreneurs make when giving their elevator pitch and how to avoid them.
Getting your elevator pitch wrong can blow raising money from investors, cause you missing a sale or even miss hiring a great candidate for your company.
That’s exactly why we’re spending an extra day on how to build your elevator pitch.
A full transcript of the 3 Mistakes to Avoid when Building Your Elevator Pitch podcast episode is below
Hey, everyone, and welcome to another episode of Build a business success secrets. I’m your host, Brandon C White. And today we are going to do another day of perfecting your elevator pitch. It is that important that I want to do two days on this and give you some tips and tricks so that you can dial it in.
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I want to give you three mistakes to avoid when building your elevator pitch. I see this over and over, and I have been negligent myself in doing this, and I’ve learned through not getting the sale or not getting the investor or whatever my goal is when I give this of it just not happening.
So three HPTs of what to avoid to build a perfect elevator pitch the first thing. Avoid saying your name. If you remember from the last episode, we talked about the framework where you could just fill in the blanks and get your elevator pitch.
I built this template, if you will, to at least get started now. The last thing in that template was your name, which was optional.
But here’s the thing. We always want to introduce ourselves, but here’s a harsh truth. People don’t want to hear about you. What they want to hear about is solutions to their problems. And that’s what you’re selling.
Well, you might be selling yourself as a person who’s qualified. That only comes after you have delivered a solution to someone’s problem, so do not lead with that. I know that it may feel like the polite thing to do, but we are trying to sell here, and if you only have less than a minute, your name’s not important.
If you’re trying to make the sale, what’s important is solution to the problem you’re solving in the name of your company and how they can reach you how they can buy that product. That’s the most important piece.
Number two. The second thing to avoid is do not go into your whole background. You would want to go into how you have this education and how you are qualified to do this. People will believe you’re qualified. If you catch them a solution to their problem that they believe solves the problem, then they will become interested in your product and ask you at that point it will help the sale.
But ultimately, if you solve that problem so well, they’re not gonna care while you’re qualified. Just gonna care that you did it and you can help them.
People are interested in their self interest and they want to know how you can help them, not how you came up with the idea, although that may be interesting after you’ve hooked him with what that product is.
And the third thing to avoid is a long winded story. Actually, not just a long winded. Any story of how you came up with the idea you don’t get the volunteer that story, the only time that you get to tell that story is when someone asks you because once they’ve asked you, they’ve asked you and giving you permission to give the story.
I see entrepreneurs give him their whole story. They want to tell me how I came up with it. I didn’t ask for the story. You don’t even know if the person wants to hear your story. You’re probably telling your story because you want to hear yourself talk about your own story. We all want to do that.
But what we’re trying to do here with the elevator pitches cell, trying to get someone interested trying to capture that lead. That’s what we’re doing with the elevator pitch. So avoid these three mistakes. Go back to the last episode review the template that I came up with, and that’ll get you a really fast start to building your elevator pitch.
So again, this three mistakes to avoid one. Do not say your name first to don’t explain your background and your qualifications, and three. Don’t tell your whole story of why you came up with this. You get to tell that story when that person asks you, and you will know that you have a really good elevator pitch after you deliver the elevator pitch, they ask you how in the world did you come up with that?
Avoid these three things and you will be on your way to building a very good compelling elevator pitch that sells pretty good advice there, right? I know it’s harsh.
People say that I give the straight talk and I do. I’m not going to always give you what you want to hear. I’m going to deliver to you what you need to hear to be more successful.
There is a time for cheering, there is a time for making you feel good. And then there is a time to just make you better. And making you better is delivering sometimes the hard truth.
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