Showing posts with label elevator pitch. Show all posts
Showing posts with label elevator pitch. Show all posts

Thursday, February 26, 2015

Perfecting Your Three-second Statement

In their 2009 book Brand You: Turn Your Unique Talents into a Winning Formula.*, social scientists John Purkiss and David Royston-Lee discuss the concept of the three-second statement: a brief (usually one- or two-sentence) response to the question “What do you do?”

Often, people who pose this query expect to hear about your career and professional aspirations. But a three-second statement can communicate more than just what you do for a living—including aspects of your personality, and passions of yours that are unrelated to your vocation.

Why is it important?

Like an elevator pitch, the three-second statement is designed to convey information in a clear, concise form. It permits you to instantly connect with individuals whose interests are similar to your own, and can elicit further conversation and idea-sharing.

Imagine yourself at a typical social gathering, like a reception or mixer. Introductions at suchlike events are typically brief—often less than ten seconds—before the conversation drifts on to another topic. The next person you meet could lead you to a great opportunity, and it never hurts to make an endearing, memorable first impression. A succinct but informative description of yourself will help you achieve exactly that.

Keep the following principles in mind when crafting your three-second statement:

1.    What is your unique combination of attributes?

In addition to your primary job, do you have another hobby or side gig that you think may be of interest to people? What else are you passionate about?

Aim to list two items—for example, “I’m a venture capitalist and hobby photographer.” Or, “I’m an ophthalmologist and blues guitar player.”

Many people have similar professional training, and most of us cannot realistically claim to be the best or most qualified professional in our field. However, by highlighting interests, passions, and personal attributes aside from our day job, we can still stand out from the crowd.

2.    Tell your story.

After your three-second statement, your conversation partner will likely follow up on the item that most interests her (either your career or your hobby/side gig). You can then elaborate on the topic in question. You may find that it’s helpful to think in advance about how you would answer common follow-up questions, like: How long have you been doing X? What do you most enjoy/find most rewarding about it? What are some of the challenges involved?

3.    Keep business cards handy, and your website up-to-date.

If you strike up a conversation with someone who is keen to learn more about you or your work, but pressed for time (as many professionals are), you will find it’s helpful to have business cards close at hand. A frequently-updated website with a memorable, easy-to-spell URL likewise comes in handy for situations like these.

4.    Test your three-second statement on a trusted friend or family member.
           
Before you put your three-second statement into practice, you may want to seek feedback about it from a person you trust to offer constructive criticism. Perhaps that individual will suggest that the items you’ve chosen are too commonplace, or not sufficiently interesting or memorable. Or she may offer fresh ideas that hadn’t occurred to you.

5.    Honesty is the best policy.

Don’t even think about exaggerating your credentials. Odds are you will eventually come across an expert interlocutor who can call you out on even minor misrepresentations. Instead, strive to offer a realistic appraisal of your skills, talents, areas of specialization, and past accomplishments. This is another area in which the advice of a person you trust (see item 4. above) may prove useful.


*London: Artesian Publishing LLP, 2009.

Wednesday, June 27, 2012

How's Your Elevator Pitch?

Wouldn’t it be great if we could conduct all of our business in the time it takes to ride in an elevator from the top floor to the parking garage? Imagine how quicker decisions would be made.

Actually, that’s exactly the approach you should take when developing a pitch about your company to potential investors. Can you communicate what your company does in 60 seconds or less?

Here are some tips to help you develop a stronger “elevator pitch” that can help with your small business fundraising plans.


1)      Watch the Clock: Any pitch you make for your business should be concise and impactful. The goal would be to get the perfect description of your company, its benefits and future plans all down to a 30 to 60 second pitch. Remember the goal is to interest the potential investor about your company in 60 seconds. All you want is to hear are those three magic words: “Tell me more.”



2)      Offer a Solution: Your business should be built upon the premise of solving a problem. Whether selling a cleaning product or an accounting software program, you have identified a problem and most importantly you’ve created a viable solution to that problem. That’s what should be in your pitch: What is missing in the marketplace and how your business can fix that.



3)      Stay Genuine or Keep it Simple: By the time you get a face to face meeting with an investor they’ve heard plenty of pitches. This means they’ve heard all the “business speak.” You’re not going to impress anyone with buzz words. Tell the story of your company and its successes in plain English. You’ll get a lot further that way.



4)      Know Your Investor: While it is true that you never know who you might end up in an elevator with, chances are you’ll know who you’re pitching your business to. Do your homework so that you understand just who this investor is and what they are looking for. You might have to adjust your pitch to fit an investor but that shouldn’t be a problem once you’ve worked it all out in advance.



5)      Speak From the Heart: Yes, the bottom line is crucial but so is passion. An investor wants to know that you’re going to be working extremely hard with their money. Don’t be afraid to show them your passion and commitment; just don’t take it overboard.



6)      Have a Call To Action: If you sell the “idea” of your business then your investor will want to know what’s in it for them. Every pitch should end with a call to action. Even something as simple as “Can I send you a business plan?” should be followed up instantly with “And when would be the best time to reconnect?” Unless you get turned down in the room, you’ve got a door open.



It will be up to you if you can walk through or not!