Elevator Pitch is the term to describe a brief speech that outlines an idea for a product, service or project.The name comes from the notion that the speech should be delivered in the short time period of an elevator ride .
Your presentation should be very concise and cover all the critical aspects of your idea in few seconds.
Your crowd, after watching your presentation, should have understood the main concept , your goals and of course get excited about your idea.
Your pitch will give you the market validation as identifies people who actually want to buy your product.
In any case you need a convincing business plan. But, your funding pitch is the key for your success.
Here are the best tips for a successful elevator pitch:
- Decide the amount of money that you will need to raise in order to bring your idea to life or to produce a new product/service.
- Create your online community. Along with your business plan, start to build your community of fans, followers, friends and family on social media.
- Develop an engaging story. Your personality, previous experience, body language or even humour will make people like you or not. Explain how this idea came up and try to share your personal passion.
- Before you apply for funding on a platform, be sure that you have fully understood how it works, the model, the timeframe they give, possible penalties for not achieving goals, etc.
- Keep your pitch concise. Your video must not exceed 3 minutes and it has to close with a call to action.
- Keep expanding your social network and be in touch with your backers. Is the most critical work.
The secret ingredient, while you performing your pitch, is to believe in you and your idea and communicate that to others!