The Elevator Pitch is the most underutilized, under appreciated, under estimated aspect of a startup.
I’ve seen 47 revisions to the same 83 page White Paper. (Bold letters: NOTE on page 17 change of “FROM” to “TO”. Can we get feedback today!!!!) If I only had a quarter for every time a wealthy investor told me: “Thanks for sending the deck over – I haven’t looked at it. Tell me about this project.” You have 90 seconds.
Jefferson took care of the US constitution in a weekend. Moses carried his 10 Commandments up the mountain in both hands. To quote the venerable Will Shakespeare, “Brevity is the Soul of Wit”.
What problem does your business disrupt? How do you make money? Who are your competitors? What’s your edge?
Try the elevator pitch for another company. See how complicated this gets.
Nike: “We’re the hippest athletics wear maker on the planet.”
Amazon: “We’re an online mall. Your kids won’t know what a “mall” is.
Apple: You get the idea.
Tell your “elevator” to friends, neighbors, the guy at the coffee shop you see every morning. Write it on a piece of paper – yes, you write it. It’s your darn “elevator” – get a pen out. Laptops OK, too. You gotta spice it up. No, this doesn’t mean lie.
Yes, it means you have to make it come to life.