{"id":640,"date":"2020-10-16T12:56:57","date_gmt":"2020-10-16T12:56:57","guid":{"rendered":"https:\/\/blog.kylas.io\/?p=640"},"modified":"2023-04-24T10:19:47","modified_gmt":"2023-04-24T04:49:47","slug":"importance-elevator-pitch-create-one","status":"publish","type":"post","link":"https:\/\/kylas.io\/en\/sales-effectiveness\/sales-techniques\/importance-of-elevator-pitch-tool-for-business-and-how-to-create-it","title":{"rendered":"Why an Elevator Pitch is the Most Important Tool for Any Business? How to Create a Good One?"},"content":{"rendered":"\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">An elevator pitch is what gives a business an invitation to a second conversation. A common misconception is to create the pitch to focus solely on making sales. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">However, the delivery should revolve around having an empathetic, passionate, and appealing conversation about the business. Through this, there is the creation of a potential long-lasting network of professionals who, in so many ways, would help the business achieve more than just sales. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Overall, this tool offers a potentially stronger market positioning, which expressly inspires growth for both businesses at all levels including small and medium-sized businesses.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Onto the \u201cmain challenge\u201d \u2013 <em>how to create a good elevator pitch for one\u2019s business? <\/em><\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Well, it involves integrating both a thought process and important tips on the actual delivery.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-ht-block-toc  is-style-outline htoc htoc--position-wide toc-list-style-plain\" data-htoc-state=\"expanded\"><span class=\"htoc__title\"><span class=\"ht_toc_title\">Table of Contents<\/span><span class=\"htoc__toggle\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\"><g fill=\"#444\"><path d=\"M15 7H1c-.6 0-1 .4-1 1s.4 1 1 1h14c.6 0 1-.4 1-1s-.4-1-1-1z\"><\/path><path d=\"M15 1H1c-.6 0-1 .4-1 1s.4 1 1 1h14c.6 0 1-.4 1-1s-.4-1-1-1zM15 13H1c-.6 0-1 .4-1 1s.4 1 1 1h14c.6 0 1-.4 1-1s-.4-1-1-1z\"><\/path><\/g><\/svg><\/span><\/span><div class=\"htoc__itemswrap\"><ul class=\"ht_toc_list\"><li class=\"\"><a href=\"#htoc-the-thought-process-behind-an-elevator-pitch\">The Thought Process Behind an Elevator Pitch<\/a><\/li><li class=\"\"><a href=\"#htoc-the-actual-pitch\">The Actual Pitch<\/a><\/li><li class=\"\"><a href=\"#htoc-ending-the-elevator-pitch\">Ending the Elevator Pitch <\/a><\/li><li class=\"\"><a href=\"#htoc-mistakes-to-avoid\">Mistakes to Avoid<\/a><\/li><li class=\"\"><a href=\"#htoc-how-and-when-to-use-elevator-pitch\">How and When To Use Elevator Pitch?<\/a><\/li><\/ul><\/div><\/div>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"htoc-the-thought-process-behind-an-elevator-pitch\">The Thought Process Behind an Elevator Pitch<\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/kylas.io\/wp-content\/uploads\/2021\/09\/8.png\" alt=\"Infographic explaining the process of elevator pitch.\" class=\"wp-image-9460\" width=\"768\" height=\"356\" title=\"Engineering an Elevator Pitch\" srcset=\"https:\/\/kylas.io\/en\/wp-content\/uploads\/2021\/09\/8.png 1024w, https:\/\/kylas.io\/en\/wp-content\/uploads\/2021\/09\/8-300x139.png 300w, https:\/\/kylas.io\/en\/wp-content\/uploads\/2021\/09\/8-768x356.png 768w\" sizes=\"(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px\" \/><figcaption>Engineering an Elevator Pitch<\/figcaption><\/figure><\/div>\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-1-explain-the-problem\" style=\"font-size:22px;line-height:1.6\">1. Explain the Problem<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\"><em>What is your business solving? <\/em><\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">As an entrepreneur, you are probably solving a problem and charging for it. By defining the problem, the audience understands the market gap that the business would bridge. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">For example, because most SMEs struggle to afford CRM software especially at the initial stages, a cheaper or a free alternative such as Kylas Growth Engine would be attractive to them during that phase.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"has-medium-font-size wp-block-heading\" id=\"htoc-2-explain-the-solution\" style=\"line-height:1.6\">2. Explain the Solution<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\"><em>What is the solution?<\/em> <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Your solution should be as specific as possible to the already identified problem. For example, by offering Kylas Growth Engine as the <a href=\"https:\/\/www.kylas.io\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"text-decoration: underline;\">best sales CRM software<\/span><\/a> available for SMEs, one might mention <span style=\"text-decoration: underline;\"><a href=\"https:\/\/kylas.io\/sales-effectiveness\/small-businesses-benefits-sales-crm-software\/\" target=\"_blank\" rel=\"noreferrer noopener\">CRM benefits<\/a><\/span> as being easy to use, offering expert help, and containing a secure technology.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-3-specify-the-target-market\" style=\"font-size:22px;line-height:1.6\">3. Specify the Target Market<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\"><em>To whom is the solution aimed? <\/em><\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Analyze potential customers. Consider their segmentation and narrow down the market to the simplest unit possible, for example, in terms of demographics. Specificity is key when analyzing a business\u2019s potential. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Also, consider the average spending pattern of the consumers to provide better insights into the real potential of the business.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-4-analyze-the-competitors\" style=\"font-size:22px;line-height:1.6\">4. Analyze the Competitors<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\"><em>How does the business stand out as the best alternative to the customers\u2019 needs?<\/em> <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Almost every successful business has a hidden charm, which gives it a competitive edge over other businesses. As an entrepreneur, one must know the value proposition of their business model.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-5-reveal-the-team\" style=\"font-size:22px;line-height:1.6\">5. Reveal the Team<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">The workforce and skill set behind the idea is the driving force of the business. The <a href=\"https:\/\/kylas.io\/sales-techniques\/create-winning-sales-script-pitch-close-deals\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"text-decoration: underline;\">sales pitch<\/span><\/a> needs to identify the team with each person\u2019s unique contribution to the business.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-6-offer-financial-insights\" style=\"font-size:22px;line-height:1.6\">6. Offer Financial Insights<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Having a <span style=\"text-decoration: underline;\"><a href=\"https:\/\/kylas.io\/sales-effectiveness\/sales-forecasting-small-businesses\/\" target=\"_blank\" rel=\"noreferrer noopener\">financial forecast<\/a><\/span> is important for follow-up questions by investors or any other potential stakeholder during the creation or actual delivery of a pitch. Consider providing a summary of those projections.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-7-milestones\" style=\"font-size:22px;line-height:1.6\">7. Milestones<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Previous and projected achievements not only help to set realistic goals but also gives life to the business.<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"htoc-the-actual-pitch\">The Actual Pitch<\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/kylas.io\/wp-content\/uploads\/2021\/09\/7.png\" alt=\"Elevator Pitch Essential infographic, floor by floor\" class=\"wp-image-9462\" width=\"768\" height=\"356\" title=\"Elevator Pitch Steps\" srcset=\"https:\/\/kylas.io\/en\/wp-content\/uploads\/2021\/09\/7.png 1024w, https:\/\/kylas.io\/en\/wp-content\/uploads\/2021\/09\/7-300x139.png 300w, https:\/\/kylas.io\/en\/wp-content\/uploads\/2021\/09\/7-768x356.png 768w\" sizes=\"(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px\" \/><figcaption>Elevator Pitch Steps<\/figcaption><\/figure><\/div>\n\n\n<p class=\"has-medium-font-size\">Once you have thought your pitch through, it\u2019s time to pen it down. Make sure you create up to a 30 second or an 80 to 90-words pitch.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">The trick here is to not be very straightforward, which is quite hard given the word count. But as this is going to be a part of a conversation, it has to have some transitional words. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">It is good practice to let people know who you are. In your introduction,<strong> create a hook<\/strong> to grab your audience\u2019s attention. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Equally, <strong>develop a conversational tone<\/strong> in order to engage the audience, evoke empathy, and drive passion through one\u2019s voice, which aids in building a workable relationship between the business and the potential stakeholders.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Notably, one needs to practice <strong>brevity and precision<\/strong>, usually about one minute, during the delivery. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">However, the pitch should be updated and focus on summarizing the brand strategy and vision. Even more, keeping track of market dynamics such as changes in consumer taste, fashion and preferences help the pitch to stay relevant. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Nonetheless, use simple language to deliver the points acquired during the thought process \u2013 creates recognition of professional ethics at its simplest yet effective level.<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"htoc-ending-the-elevator-pitch\">Ending the Elevator Pitch <\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Now that you have pitched your product and services, and established its attractiveness, it is time to finish strong with a clear call-to-action (CTA).<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Remember that even the most well-crafted elevator pitch could fall flat if it lacks a clear CTA. So make sure you add one.<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"htoc-mistakes-to-avoid\">Mistakes to Avoid<\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"has-medium-font-size\"><li>Avoid rambling and providing too much information.<\/li><\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"has-medium-font-size\"><li>Avoid jargons and technical language. Your pitch should be simple enough for anyone to understand.<\/li><\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"has-medium-font-size\"><li>Don\u2019t give away too much information. Provide key information but don\u2019t get into details.<\/li><\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"has-medium-font-size\"><li>Your pitch should not sound rehearsed. It should be flexible enough for you to improvise on the spot.<\/li><\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"has-medium-font-size\"><li>Don\u2019t be too pushy while writing the script. Think as a customer. Would you like being pressured into something? No, right? So avoid doing this.<\/li><\/ul>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"htoc-how-and-when-to-use-elevator-pitch\">How and When To Use Elevator Pitch?<\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-1-individual-interactions\" style=\"font-size:22px\">1. Individual Interactions<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">This situation is self-explanatory. The only input for such encounters is to give an effective introduction. Put your best foot forward while presenting your product\u2019s benefits and always be confident.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-2-at-trade-shows\" style=\"font-size:22px\">2. At Trade Shows<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">People in trade shows do not stay at one booth for long.  You only have a minute or less to capture their attention and make a great first impression.<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\"><em>A well-crafted elevator pitch can get your prospects excited about the opportunity you are offering. And on a good day, who knows it might even compel them to take the next steps with your business. So it is always good to be prepared.<\/em><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><em><br>If you have more suggestions on this topic, feel free to drop a comment. Let\u2019s discuss!<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An elevator pitch is what gives a business an invitation to a second conversation. A common misconception is to create the pitch to focus solely on making sales. However, the delivery should revolve around having an empathetic, passionate, and appealing conversation about the business. Through this, there is the creation of a potential long-lasting network &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/kylas.io\/en\/sales-effectiveness\/sales-techniques\/importance-of-elevator-pitch-tool-for-business-and-how-to-create-it\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Why an Elevator Pitch is the Most Important Tool for Any Business? How to Create a Good One?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":23,"featured_media":9465,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"ub_ctt_via":"","footnotes":""},"categories":[12,36],"tags":[17,18,19],"acf":[],"featured_image_src":"https:\/\/kylas.io\/en\/wp-content\/uploads\/2020\/10\/PB-Banner-Guide-Images-ONLY-7-2.png","author_info":{"display_name":"Shagun Sharma","author_link":"https:\/\/kylas.io\/en\/author\/shagun"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Importance of Elevator Pitch and How to Create One | Kylas<\/title>\n<meta name=\"description\" content=\"An elevator pitch is what gives you an invitation to a second conversation. 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