An elevator pitch is an overview of an idea for a product, service, or project. The name reflects the fact that an elevator pitch should be possible to deliver in the time span of an elevator ride, meaning in a maximum of 30 seconds and in 130 words or fewer.
The term is typically used in the context of an entrepreneur pitching an idea to a venture capitalist or angel investor to receive funding. Venture capitalists often judge the quality of an idea and team on the basis of the quality of its elevator pitch, and will ask entrepreneurs for the elevator pitches to quickly weed out bad ideas and weak teams. Source: Wikipedia.
Elements
An effective elevator pitch generally answers questions such as:
- What the product, service, or project is.
- What it does for the buyer, investor, or sponsor (i.e. the benefits).
- Who you are and why you will be successful.
Examples:
Intel,the world’s largest silicon innovator, creates products and technologies that change the way people live, work and play. Whether it’s a mobile lifestyle or a new way to enjoy entertainment at home, Intel is helping people all over the world accomplish things they never before dreamed possible.
---------
The elevator doors are open and six aspiring entrepreneurs are stepping on to pitch their great business idea to StartupNation’s Jeff and Rich Sloan.
[Click to listen]
It is important to note that you should submit your elevator pitch first before submitting any further information about your business. After submitting your elevator pitch to Argela, you will hear from us whether we would be interest in receiving more information about your business plan or set up a meeting for further discussions. In some cases, Argela may not take an interest or may not want to pursue further due to similarities to its existing product or Turk Telekom Group company portfolio.
