Saturday, November 17, 2007

The Elevator Pitch

So, I have to start by saying that my company pitch right now isn't perfect. But I do know how to improve upon it. One of the reasons that it's not perfect is because I am hesitant to openly explain our technology without having proper protection. And thus, I'll have to indulge you in the process of writing, filing, and prosecuting a patent application. But that can wait.

When I began developing the pitch for the company, it sounded a lot different from what it sounds like today. And that's because part of the process is reading the reaction of the people that are listening to it. When nobody gets excited about my idea or asks me to tell them more, I know I've partially failed. The second important part is that people should absolutely and unabashedly understand the idea. Make it SIMPLE! Make it so your parents and grandparents would understand it. And that's hard when you're so immersed in what your doing.

So here's what I'd recommend as some simple rules for writing an elevator pitch. And remember, all of this should take place in 30 seconds to a few minutes.

  1. Explain the problem

  2. Explain the solution

  3. Make it simple

  4. PRACTICE - make it smooth.

  5. Be excited about what you're talking about and show it!

  6. Get the perspective of someone who knows the business you're going into (I'm using VC contacts, entrepreneur professors from school, and friends).

  7. Remember, you're ultimately looking for something. Know your audience and tweak accordingly, is it employees, investors, angels, parents, whatever?

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