#4 The Coffee Shop Challenge
Introducing the Elevator Pitch 2.0 and how you can practice standing out in the crowd
The coffee shop challenge was one of the first things we trained at the startup incubator I was part of in 2018. In most investor pitch coaching sessions, you learn about the elevator pitch (EP). The EP has you stand in the elevator with a potential co-founder, investor, or advisor, and you have to explain to him what your product is all about. In 20 seconds or less. Now, this is great, but there is one big problem:
You have the full attention of the person in the elevator with you
That is something that you will most likely not have with your customers. They are probably browsing in a store, distracted by flashing lights and other products, listening to an ad with one ear, or overhearing a conversation about your product on the subway. Explaining your problem to another person in the elevator is a solid first step. But I am taking it one step further, and in the startup boot camps I did in the incubator, we did what we called the coffee shop challenge.
“Can I please have a large Cappucino to go?”
The core concept of the coffee shop challenge is the element of distraction or multi-tasking. The challenge is easy. Go to your favorite coffee shop, bakery, or burrito shop with fast to-go orders. Order your usual (or something more exciting), and while your coffee, burrito, or sandwich is made, you explain your idea to the staff on your order. Don’t warn them or give them a heads-up. This ensures one thing: you now have the same attention as you would from a later customer. As with the elevator pitch, the person most likely doesn’t know as much about the market as you do. So informing the person in easy and simple terms is essential. Your explanation must be on point because you only have half their attention. This means having your unique selling points (USP) perfected to the point of being able to summarise them in 10 seconds.
After you receive your order and having done your pitch you ask them “Would you be interested in my product?”. Most people would say “yes”, whether they understood it. Don’t accept that. Follow up by asking “What did you like the most about it?”. If they tell you they didn’t understand it, your mission failed, and you must return to the drawing board. Listen closely and take notes for your business plan and collective user feedback if they tell you. Thank them, give them a good tip, and find a second place to do it again tomorrow. If you have a perfect pitch, practicing it is an excellent way to build more confidence.
Conclusion
The Coffee Shop Challenge is the perfect gateway to interactively perfecting your pitch, business idea, USP, and tag lines. When you start with the coffee shop challenge, you will probably need a few minutes to convey your idea. Your first pitch will probably take longer than your order. But with every pitch, you will notice phrases, ideas, and keywords that just stick with your listener. And others, that bring no value to your pitch. After repeating the challenge multiple times you will notice two things.
- You will be able to pitch your idea in seconds.
- And you start to develop a better understanding of the USP true to your customer.
With most startups, the USP the founder has developed and the USP that customers really respond to differ. And the greater the difference, the larger the sales gap. The phrases you use in your final coffee shop challenge to sell your idea, are ready to go on billboards, social media ads, and on your website. They are the phrases that your customers truly respond to and grab their attention through all the clutter and distraction. With social media, the grab for attention has gotten way bigger. A good pitch doesn’t cut it any longer. If you want to truly stand out, your pitch needs to be 110%. Good luck!
You did do your first coffee shop challenge? I would love to hear more about it! Please leave a comment and share your insights with the community
