Sasin Entrepreneurship August Sundowner "How to perfect your elevator pitch" by Kathy O' Brien (19.8.2015)

How To Perfect Your

Elevator Pitch

Sasin Entrepreneurship Centre

19 August 2015

Background: Elevator Pitch

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•  Coined by Ilene Rosenzweig and Michael Caruso

•  Scenario: meeting someone important in the lift

•  Delivers the WOW factor

Bill Reichert, CEO, Garage Technology Ventures

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“In the real world, your basically have 20 seconds to get someone engaged or you might as well go home.”

Your ‘Elevator Pitch’

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•  Imagine someone steps into the lift and asks: What do you do?

•  You respond with an Elevator Pitch: •  Concise •  Professional, yet sounds like a human being •  Targeted to the audience •  Delivered in 30 seconds

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Exhibit A

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Elevator Pitch Exercise

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•  In pairs •  Person A is audience •  Person B must address that person’s mindset while

answering the question: Ø What do you do?

•  … in 30 seconds! •  Then swap roles

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Discussion

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• What was challenging? • What worked? • Why?

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Structuring Your Elevator Pitch

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Now

How

Wow

Summary Bottom-line message

How we got to the Now Key factors Background

Where next Future benefit

Exhibit B

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Breaking Down Exhibit B

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Now Day to Night Convertible Heels Patent pending

•  50m women wear heels •  Hurt their feet •  5 heel heights

•  Pre-sold 500 pairs •  10x return upon

$250,000 investment

How

Wow

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Universal Usefulness

•  Organise your thoughts in the simplest form

•  The audience can follow

•  You zoom in on the crucial facts

•  If they want more, they ask. In fact you leave them wanting more!

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Elevator Pitch Exercise ‘Take 2’

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•  In pairs once again •  Person A is audience •  Person B must address that person’s mindset while

answering the question: Ø What do you do? Ø Apply the NOW HOW WOW

•  … in 20 seconds! •  Then swap roles

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Discussion

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•  What worked? •  Why? •  How did the NOW HOW WOW technique help?

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12 Tips for a Winning Elevator Pitch*

•  Start off strong

•  Tell what you do, not what you are

•  Repeat key information

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•  Be interesting but authentic

•  Prioritise your pitch

•  Know your

audience

*Fallon, N. (2015). 12 Tips for a Winning Elevator Pitch. Business News Daily.

12 Tips For a Winning Elevator Pitch*

•  Focus on what matters

•  Keep it conversational

•  Think about your end goal

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•  Make a connection

•  Tell, don’t sell •  Open the door to

continue the conversation

*Fallon, N. (2015). 12 Tips for a Winning Elevator Pitch. Business News Daily.

Elevator Pitch Exercise ‘Take 3’

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•  In pairs once again •  Person A is audience •  Person B must address that person’s mindset while

answering the question: Ø What do you do? Ø Apply the NOW HOW WOW

•  … in 20 seconds! •  Then swap roles

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Discussion

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•  Tell your partner what he/she did well •  Give one pointer to what he/she could have done to

take the Elevator Pitch up one floor

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Boundless Possibilities

•  Your update in a meeting

•  Email

•  Opening statement for a conference call

•  Instant speech

•  Not-so-instant speech

•  Corridor conversations

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Exhibit C(omical)

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Bring it to Your World

What are several opportunities in your life where you’ll apply the Elevator Pitch?

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