You’re about to step into an elevator when you suddenly notice that it’s already occupied…by your ideal client or investor. It’s an incredible opportunity that should not be wasted. You attempt to give a short description of your business but you’re so flustered and he’s clearly not impressed. Opportunity missed. If you had taken the time to develop a compelling speech about your business or idea you could be shaking hands and exchanging business cards instead of walking away wondering what just happened.
If you can’t successfully express your business idea in 60 seconds or less (the length of a typical elevator ride) then you may be setting yourself up for failure. One of the most important aspects of being a successful entrepreneur is being able to give a short and intriguing description of your business or business idea also known as an “elevator speech”.
It may seem difficult at first since there can be an endless amount of things that go into what makes your business successful or what makes your idea a great one. If you take a little time to brainstorm and follow these simple steps you might find that it’s actually a lot easier than you think.
Have A Good Hook
Just like any successful novel you have to get your potential client or investor hooked long before you get into any details of your business. Find a way to quickly express the problem that your product or business is equipped to fix. If you can get the person thinking about how they have a certain problem, and how nice it would be to have it resolved, they’ll continue listening.
Keep It Short But Thorough
Try writing down all of the things that makes your business or idea unique. Then begin whittling away at the list until you have the most important aspects. Once you’ve done that you can try writing down different ways that you might explain this to a potential client or investor. Be sure to time yourself as you try your different ideas. If it’s longer than 60 seconds then go back to the drawing board.
Don’t Forget To Ask For What You Need!
Sometimes you can get so caught up in explaining how great or unique your business or idea is, and how it will solve their problems better than everyone else, that you completely forget to ask for what you need. It doesn’t matter how good your hook is or how compelling your description if you don’t ask for what you need. However, if you’ve successfully developed an intriguing hook and a succinct and compelling description of your business you should have no problem sealing the deal once you get to this point.
Don’t be caught in the uncomfortable position of being unprepared when opportunity presents itself. Take a few short minutes to develop a compelling elevator speech and you might be surprised how quickly you’ll find yourself in the perfect situation to use it. Opportunity tends to smile on those who are the most prepared.