“Mastering the Art of the Elevator Pitch: Key Elements and Tips for Small Business Owners.”
Mastering the Art of the Elevator Pitch: Key Elements, Examples and Tips for Small Business Owners.
Are you looking for any funding for your business — A grant, loan, or investment? Then you must ensure that you’re elevator pitch ready. The term “elevator pitch” comes from the idea that the pitch should be concise and compelling enough to be delivered during a brief elevator ride, typically lasting between 30 seconds — 90 seconds.
You cannot afford to freestyle it because you will end up missing the key points that would grab your listener’s attention and leave a memorable impression.
So to help you stay prepared, here are five key elements of a great elevator pitch. I will be using The Shecluded Company as an example.
The Problem: To help you establish your offer, start by identifying a problem your idea, product, or service solves. Example: Many women in business struggle to access financial services tailored to their needs. As a result, they often find it challenging to grow their businesses and achieve long-term economic prosperity.
Solution: Describe your solution to the problem in clear and straightforward terms. Explain how your idea, product, or service solves your identified problem. Example: Shecluded is solving this problem by building a female-focused fintech platform that caters exclusively to women. The platform provides a range of financial services, including business loans, health, car, life insurance, Accounting Services, and access to financial literacy, wealth, and business advisory services.
Benefits: Highlight the benefits of your solution, such as increased efficiency, cost savings, improved productivity, or better customer satisfaction. Example: With Shecluded, women in business can access the financial services and resources they need to grow and scale their businesses for long-term sustainability and impact. Our Loan application platform is designed to be user-friendly and accessible, making it easy for women to navigate and use.
Uniqueness: Explain what makes your idea, product, or service unique and how it differentiates you from competitors. Example: Shecluded is unique in that it caters exclusively to businesswomen and provides a comprehensive range of financial services tailored to their needs through a community-based ecosystem — The Shecluded Business Network. The Shecluded Business Network offers a range of resources and tools to help women build their financial literacy and grow their businesses. If you are yet to become a member, click here to Join.
Call to action: End your pitch with a call to action, such as asking for a meeting or follow-up conversation or inviting the listener to try your product or service. Example: We’re excited about the impact we’re making in the lives of women entrepreneurs across Nigeria. To take our platform to the next level, we’re seeking seed funding of $1 million to expand our operations, build our team, and continue providing essential financial services to women in business. If you’re interested in investing in Shecluded or learning more about our funding round, please get in touch with us today.”
In conclusion, mastering the key elements of an elevator pitch is essential for securing funding for your business. Practicing your pitch and timing it will help you ensure that you make the most of every opportunity to pitch your business. Remember to keep it clear, concise, and within the short timeframe of 30 to 90 seconds.
We’re here to help you take your business to the next level! If you need help with your pitch, consider purchasing our pitch deck services, which include a free 30-minute 1:1 pitch practice session. Click the link to learn more and claim your free session.
