How Can I Create an Irresistible Pitch for My Startup?

Roshni Khatri

19th Mar'24
How Can I Create an Irresistible Pitch for My Startup? | OpenGrowth

Founders of new businesses aren't sure what's most important initially. Many advisors believe a strong business plan is key.

Investors look at detailed plans in presentations (pitch decks) for making decisions.

The most crucial document you should write before submitting a business plan to investors is a winning lift pitch.

This is a 30 to 60-second pitch that can be delivered in a lift.

In this blog, we will discuss the elevator pitch for a startup and its significance in boosting it. Let’s get started!

What is An Elevator Pitch?

A brief speech that introduces you and highlights the main elements of your proposal—whether it's to attract investors, market a product, publicize a company, or even market yourself as a possible employee—is known as an elevator pitch.

It becomes too long if it takes more than a minute to make your argument.

Short, attention-grabbing explanations (pitches) used to be spoken only in meetings. Now, these "elevator pitches" are also written and used in various ways:

  • On websites
  • On social media
  • In video ads
  • For marketing materials
  • To interest the media

Basically, these short explanations are used to grab attention in different situations, not just spoken conversation. 

It should take no more than 30 seconds, which is less than a lift trip. 

You can also read about online courses in the digital era to embrace the business opportunities effectively.

 

Startup

 

How to Write an Elevator Pitch?

To write a fantastic pitch, follow these stages, but keep in mind that your strategy will need to change based on the topic of your pitch:

 1. Determine Your Objective

Consider the pitcher's goal before you begin. 

For example, would you like to introduce your company to prospective customers? Would you like to present your fantastic new product idea to an executive? 

Or would you want a brief yet interesting speech outlining your line of work?

2. Explain Your Actions

Give a brief overview of your organization's mission to begin your pitch. Pay attention to the issues you resolve and the ways you assist others. Provide details or a statistic, if you can, that highlights the importance of what you do.

Before you begin writing, ask yourself what you want your readers to keep in mind most about you.

Determine what distinguishes you, your company, or your concept. Once you've discussed what you do, you should discuss your USP.

 3. Ask a Question

You must engage your audience after outlining your USP. Prepare open-ended questions such as inquiries that do not have a "yes" or "no" response to get people involved in the discussion. 

 Ensure that you are prepared to respond to any inquiries that may be made of you.

4. Combine Everything

Once you've finished writing each element of your proposal, combine them. 

After that, read it aloud and record the time it takes. It ought to last no more than 20 to 30 seconds. 

If not, you run the danger of boring them or controlling the entire conversation. 

The shorter your pitch is, the more captivating and snappy it ought to be!

5. Practice, Practice, Practice

Practice indeed makes perfect. Recall that communication style matters just as much as content. 

Without practice, you may find that you speak too quickly, seem robotic, or miss crucial details of your pitch.

Make it a point to constantly practice your pitch. Your pitch will become more effortless as you practice more. Instead of coming off as a pushy sales pitch, you want it to sound like a casual discussion.

When you speak, pay attention to your body language as well since it can reveal as much knowledge as your words. Until the pitch seems natural, practice it in front of a mirror or, even better, in front of coworkers.

 

Startup

 

Elements of a Pitch for an Elevator

Here are some vital elements that instantly grab your investor’s attention:

 1. The Lure

This component doesn't have to be elaborate or difficult. Make it brief and easy to understand. 

A personal narrative such as, "When I initially began a company, it felt like there was too much to do and not sufficient time to do it," might serve as your hook when proposing a time management solution.

2. The Value Proposition

Here, you should give a summary of the benefits you will be contributing. 

Talk about the product or service you're proposing, find out in advance what the specific needs of your target audience are, and craft a strong case for how you can satisfy those needs. 

3. The Evidence and Experience

Even if the individual you're speaking to may be nodding, it doesn't always guarantee that your message is being understood. 

A little evidence of prior accomplishments or numbers that attest to your achievement might make that nod much more sincere.

4. The Distinguishing Factor

Make it clear to them that you are unique and that your offering isn't just a rehashing of something that has already been done. For being creative and without quoting any films, you receive brownie points.

 5. The Call to Action

Make sure you're asking for action from your audience. They may be interested, and they have all the information. 

Now is the moment to take it home and issue a strong directive. 

Invite them to coffee, offer contact details, ask them to get in touch with you on LinkedIn, and make sure there's a way to follow up on the topic of discussion.

Wind Up

When making your elevator speech, keep in mind that if the audience doesn't feel like they're being marketed right away, they're more likely to be interested in what you have to say. 

When making your elevator pitch, focus on what your business can accomplish for the buyer rather than promoting yourself. 

Additionally, avoid whining in your pitch for a startup. Focus on the good things instead of giving someone a laundry list of reasons or issues to listen to.

You must begin developing the resources you'll need to take the initial steps towards presenting your business concept to investors since theory by itself won't make you a founder. 

You should also learn about turning a concept into a startup to transform your ideas and blueprint into reality.

Ready to take your startup to new heights? Dive into our in-depth, expert-verified, and meticulously researched OpenGrowth courses. Fuel your entrepreneurial ambitions with practical insights and take that crucial first step towards unstoppable success now!

 

A keen observer, who loves to spend time with nature. A fun loving person, enjoys to explore the new aspects of life. Passionate about reading and learning new things. Roshni is dedicated towards her work and has worked in different professions.

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