To be effective, you need an elevator pitch that grabs people’s attention and clearly shows the value of your startup. If you are developing your first pitch, or if you find that your current pitch isn’t working, then keep the following tips in mind:
1. Take Your Time When Developing Your Hook
This needs to be something that is compelling, imaginative and unique. Spend a lot of time on your hook, since if it fails you probably won’t have the chance to deliver the rest of your pitch.
2. Present a Problem
Every product or service in the world is made to fill a void – or remedy a problem – in some way. Using pain points, you want to present a problem to the audience. Make your audience aware that there is a valid, real problem.
3. Provide the Unique Solution
Presenting a problem allows you to present your unique solution. You need something that creates value and is different than other solutions on the market. What can your product or service do that no one else offers?
4. Demonstrate Your Team’s Ability
Investors are not only investing in you – they’re investing in your team. Highlight your team’s determination and ability. Reinforce these qualities with examples, and sell the perception of capability to make your business into a household name.
5. Demonstrate Traction
Your business may be similar to others, but traction is something that very few businesses gain. If your business has gained traction in the market and has created a buzz, highlight these points. Investors are much more comfortable with investing in businesses that have gained a bit of momentum already.
6. Close Correctly
Close by asking for business cards and planning out potential next steps. This allows you to make a lasting connection and convince any investors who are on the fence about your product to invest in it.
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