Quick! Assume that you have a billion dollar worth of idea that you ready to build but are currently underfunded. Now, say that you are in the elevator ... alone. But, suddenly, Elon Musk on his way to upstair join the elevator with you. You really wanted funding and this is your shot to pitch your idea. How do you want to present your idea before he left?
Pitching is a way to present your ideas in order to gain validation. Usually, pitching done by entrepreneur to obtain financing from investor. But, you can also pitch your ideas to your friends or colleagues to gain something from them (i.e. recruit, support). There are several form of pitching and one of them is "Elevator Pitch".
Elevator pitch is a brief and persuasive presentation that we can use to gain interest in your ideas/product. The main rule of elevator pitch is the presentation should be no longer than 30 seconds. The first paragraph in this article has shown to demonstrate the context and goals of elevator pitch.
This kind of speech required to be brief and memorable to let investors understand your ideas/product. To be able to create such catchy speech, you have to be following these steps:
- Introduce yourself.
- Brief explain your ideas and how its impact.
- Describe what you need from them.
- Engage with the audience by having a question for them to wonder
- Always prepare your business card
- Practice, practice, practice!
"Hi, I am Andhika Yusup from Siveri, a clean design application ecosystem that let student and teachers interact. Did you know that almost 90% student in Indonesia having difficulties in their new online class setup? Our product will help and guide students and teachers to be able to learn properly with its clean and minimalistic design. Currently, I am working on a prototype and i am looking for financing. Do you interested?"
These are pitching tips to guide you an your team to convince investors. Even though everyone has their own preference, these are the basic strategies you should know:
- Practice makes perfect
- Communicate the clear benefits to investor
- Having a realistic but ambitious project roadmap
- Contrast your product among others
- Open to advice
An important thing to remember is to have confidence in your product. Simultaneously, being humble and not too greedy.