Elevator Pitch, Presentation: Discussion Forum, Week 8.
The â€œElevator Pitch.â€ Posting and commenting dates are on the Course Schedule and Outline.
You will write and post your elevator pitch to sell your idea to your classmates who will play the role of venture capitalists. The elevator pitch is designed to be brief but is a specific statement about your startup investment opportunity. The idea is to be able to sell your idea to a potential investor in an elevator going up or down about 30 floors, about 2 minutes. It should also include the amount of startup cash or resources you would be requesting of a potential investor. See the following â€œcharacteristics of an excellent elevator pitch.â€ Your elevator pitch must be posted no later than Monday 7:00 p.m. in the Week 8 Discussion Board.
Commenting on and assessing at least three (3) other elevator pitches.
You will be required to comment on or assess at least three (3) elevator pitches posted by your classmates in the discussion board and state whether or not you would invest and reasons why or why not.
Notes on the Elevator Pitch
An effective elevator speech should be specific and have the capacity to â€œsellâ€ your business concept quickly.
It should convey the â€œessenceâ€ of what you do or plan to do as a business.
Know your business well–assume others nothing or little about your business.
Base your presentation on three to four well-developed points about your business.
Convey your uniqueness quickly. (E.g. instead of saying â€œwe rent great quality tuxedos to men who appreciate quality,â€ say â€œwe make men look great.â€ Walt Disney once described his business as â€œmaking people happyâ€ and that remains Disneyâ€™s mission today.
It should stress the benefits of what you provide, not merely the features. (This is sometimes called the â€œsizzleâ€ but not the â€œsteak.â€)
Add some Pizzazz. Avoid dry, purely descriptive statements. Instead, go for the â€œwowâ€ factor.
Avoid a laundry list.
Avoid sweeping statements.
Remember: An elevator pitch is designed to sell your business idea to a potential investor!