We all need to quickly and concisely express our startup, company or job description when meeting new people. This week I got roped into giving an elevator pitch to a panel of judges :0. Although, as luck would have it two (Alex Tew of Million Dollar Homepage fame and Micheal Acton-Smith) of the three judges could be potential customers 🙂 You’ve heard the expression ‘elevator pitch’ but what is the perfect pitch in just 30-60 Seconds?
A perfect Speedy Pitch (Not to get the job)
from Spud in Danny Boyle’s Trainspotting
The Wikipedia definition for elevator pitches recommends a 30 seconds pitch with between 100-150 words. In a short video this guy suggests a succinct, easy to understand, greed inducing and irrefutable pitch. Startup Nation has 205 word example written pitch. Based on the example structure the 7 steps to the perfect pitch is:
- Customer pain situation
- What your product/service does for the buyer
- Gap in the market (Niche)
- How are you going to market product
- Investment ask for and return
- Your credibility
- Your past relevant successes
My final Elevator Pitch went something like this:
“I’m Nick Barker and my company is Aware Monitoring. The global recession will dramatically increase leisure and business website traffic. This growth will push websites to their limits and cause capacity, performance and availability problems.
Our service helps prevent website downtime/slowdowns and the associated loss of revenues. The market currently has low cost basic products or expensive complex enterprise products. Our service focuses on a niche market using in-bound, word of mouth marketing with a ‘freemium’ model. The service is charged monthly.
We’ve been running and selling monitoring products for more than 10 years now. I’m the CEO with 20 years Tech experience and an MBA. My CTO co-founder has 15 years software Tech experience. In my last job I grew a monitoring startup into a global multi million $ service and we see the same high-growth potential for Aware Monitoring”
(Word count: 140 & 60Sec pitch time – But will they buy it?)
Note: There is no Investment ask for and indication of return.
In the end my live pitch was not perfect as I kept looking at my notes. Oh, well until the next elevator ride. Here is a link to a video of 5 Elevator Pitches in a Texas Elevator as part of SXSW 2009 (tech festival).
Good luck with your pitch! 🙂