How To Structure Your 60 Second Elevator Pitch
When I was 23 I created my own start-up MyCarGossip a motoring website for female drivers to help them find trusted motoring services. I came up with the idea because of a bad experience I had with my own car. I was inexperienced but driven by passion and as I was still living with my parents and had minimal outgoings, I decided to take a year out and see what I could make of my idea.
I learnt so much during that year but one of the most valuable things I learnt was during a work shop at Google Campus which was run by Annette Kramer on how to perfect your 60 second elevator pitch.
The 60 second elevator pitch
It’s called an elevator pitch because it is the art of summing up your business in the time it would take to get from the top of a building to the bottom. Imagine if you were stuck in a lift with a potential investor and you only had 60 seconds to WOW them. You would have to be able to do this in about 60 seconds!
The Sexy Parts Of Your Business — pitching for investment
The session was very “investor” focussed, as most of the startups in the group were trying to raise investment. We were told to think about what investors need to hear, particularly how they are going to make a return on their investment so we need to tell them why we are worth investing in and what makes us stand out from the crowd.
The art of a 60 second pitch is to just show off the “sexy” parts of your business and leave the audience on edge, wanting to find out more.
The main points to include in your investor pitch
- What problem are you solving for your customers?
- What is your unique selling point? (USP)
- Who are your competitors and why are you better?
- What is your revenue model (Sum it up in a second)
- What is your addressable market? How do you know? Do you have a track record?
- Who are your team?
Practise makes perfect- but stay human
As soon as I had perfected my 60 second elevator pitch, I had a lot more confidence and the basis of a great introduction to my business. Just make sure you don’t sound too rehearsed- people invest in people, so it’s important to show that you are human.
Is there anything else that you would add to your 60 second elevator pitch?
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