The definition of a pitch is a very short speech that allows entrepreneurs or professionals in any sector to quickly present the broad outlines of a project or activity.
The concept of an elevator pitch is therefore simple: a person finds themselves in an elevator with the head of a company or a very important investor. It’s the chance of a lifetime. The person wishing to develop their project or product must use this very short time to present their business or idea and convince the investor to schedule a meeting to work together.
In practice, this presentation technique shouldn’t exceed 10 minutes. Elevator pitches aren’t designed to present all the details of a project, but rather its broad outlines and main ideas, while being interesting enough to turn this short interaction into a meeting in the future. The elevator pitch is a very difficult exercise, born in an increasingly hurried society: time is money.
The targeted investor or professional must be keen to learn more about the project presented. What's more, if the entrepreneur isn’t able to interest their audience in less than 10 minutes, it implies that they won’t be able to interest potential future customers.
This concise marketing pitch makes it possible to assess the oral and commercial skills of a future entrepreneur in just a few minutes or even seconds. This format is very popular with investors, as it enables them to quickly unearth the gems of tomorrow.
Entrepreneurs readily engage in the elevator pitch exercise at trade shows, corporate cocktail parties, or even chance meetings with potential investors.
The main aim of an elevator pitch is to get a meeting and/or share your business plan with the investor you meet. Once again, it’s not a question of revealing the whole of your idea or concept during this first short meeting, but rather of piquing the interest of the interviewer with a view to a future meeting.
When the entrepreneur begins to write their business plan and establish themselves in their sector of activity, it will be better for them to prepare an elevator pitch in advance in the event of meeting an important person in the future. It’s an exercise that must be prepared in advance, whether with the help of templates or created completely from scratch: to be able to attract attention, you must know how to remain yourself, know your interlocutor well, prioritize the content you wish to present, and remember your business card to give at the end of the interaction!
