“If you can’t explain it simply, you don’t understand it well enough.”
Effective leaders and salespeople who are truly immersed in their craft are constantly planning and re-thinking their elevator speech, going so far as to rehearse it and other parts of their presentation in front of a mirror. This 20-30 second “pitch,” brief enough to be recited on a short elevator ride, presents a problem and how your product (or idea) solves that problem. For example, here is an elevator pitch for PerfectCoaches.
”Companies, universities, and leadership coaches use PerfectCoaches to help people learn new habits and skills and then practice them continuously.”
Twenty words, fifteen seconds. A good Elevator Speech delivers a veto-proof message. Nobody can disagree that the implied problem (people need to learn new skills and habits) exists and that your product will solve it.
Note the term elevator speeches, not elevator speech, because perfecting the persuasion process means having multiple elevator speeches at the ready. There is the main pitch, or speech, about the product, but you will usually end up using an elevator speech about the company more generally, and a speech about you. People begin by focusing on the product or idea you are presenting, but they will want to know about the company, and at least a bit about you, so be ready.
The important thing about YES is not that it’s an acronym for Your Elevator Speech, but rather that it is what you want your customer to say when you are ready to close the deal.
Always give your elevator speech as soon as you think the customer is ready, whether the customer asks for it or not, no matter what course the conversation takes. Some encounters move fast, some meander; give your quick pitch soon as possible no matter what. Never let a conversation end without presenting the basic pitch for your product.
Whether you're trying to raise capital, cold call or network, it's essential to have an elevator pitch.
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