Elevator pitch

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An elevator pitch , elevator speech , or elevator statement is a brief description of an idea, product, company or self explaining the concept in such a way so that each listener can understand it in a short time. This explanation usually explains who the product/company is, what it does, why it is needed, and how it will be done. For the latter, when describing a person, the description generally describes one's skills and goals, and why they will be productive and beneficial to have a team or within a company/project. Pitch elevators do not have to cover all these components, but usually at least explain what the idea, product, company, or person is and why it/they are valuable.

Pitch elevators can be used to attract investors, executives at the company, or explain ideas to founding parents. The goal is simply to convey the whole concept or topic in an interesting way. Unlike sales promotions, there may not be a clear buyer/seller relationship.

The name - pitch elevator - reflects the idea that it should be possible to deliver a summary within the elevator travel timeframe, or about thirty seconds to two minutes.

Video Elevator pitch

Background and history information

There are many stories of origin for the elevator or elevator speech. One of the famous original stories is Ilene Rosenzweig and Michael Caruso, two former journalists in the 90s. According to Rosenzweig, Caruso was the senior editor at Vanity Fair and kept trying to give Editor-In-Chief story ideas at the time, but never dropped them long enough to do so just because he was always on the move. So, to convey his ideas, Caruso will join him for a short period of time that he has, like riding an elevator. Thus, the concept of elevator pitch was created, as Rosenzweig said.

However, there are other known origin stories that date from before the story of Rosenzweig and Caruso. Philip Crosby, author of "The Art of Getting Your Own Sweet Way" (1972) and "Quality Is Still Free," (1996) suggest individuals should have pre-prepared speeches that can provide information about themselves or the qualities they can provide in a short time, that is the amount of time the elevator rises because if someone finds themselves in an elevator with a prominent figure. Basically, a pitch elevator, or elevator speech, is meant to allow someone to throw themselves or an idea to someone who is tall in a company, with very limited time.

Crosby, who works as a quality test technician, and later as Director of Quality in International Telephones and Telegraph, recounts how an elevator pitch can be used to drive change within the company. He planned a speech about the changes he wanted to see and waited at the ITT headquarters lift. Crosby stepped into the elevator with the company CEO to deliver his speech. Once they reached the floor where the CEO was down, Crosby was asked to deliver a complete presentation of the topic at a meeting for all general managers.

The elevator pitch concept, as created by Crosby, did not receive much popularity until two statisticians, Gerry Hahn of General Electric and Tom Boardman, a professor at the University or Colorado, began pushing this concept to other statisticians. Both encourage this concept to help other statisticians promote what they offer. Boardman pushed the concept farther than Hahn, who produced pitch elevators, or elevator speeches, which eventually attributed to Boardman and his professional life.

Another origin story for elevator pitch is from Elisha Graves Otis, the inventor of a device intended for elevator safety, dating from the 1850s. In 1852, Otis began to develop devices that would improve the safety of elevators, especially those associated with hoists used to lift heavy equipment to the upper floors. This device is made of spring wheel steel and provided a backup mechanism of capturing and holding if the lifting strap lifts give way. In 1854, at the Crystal Palace Fair in New York in front of a large audience, Otis revealed his device. He did it by lifting the elevator, as usual, but as it was positioned roughly half of the lift, the rope was cut. The lift platform is held in place by Otis devices. This can be called the first pitch elevator ever.

Maps Elevator pitch

Aspects of Pitch Elevator

Pitch elevators are intended to extend the duration of the elevator ride, which can vary from about 15 seconds to two minutes. Therefore, the main focus of the elevator pitch should be to make it short and direct. According to Idaho Business Review, the first two sentences of each pitch elevator are the most important, and should link or attract the attention of listeners. Information in the pitch elevators, due to time constraints, must be condensed to express the most important ideas or concepts within the given time.

Furthermore, the Idaho Business Review suggests individuals using pitch elevators deliver it using simple language, and avoid statistics or other languages ​​that may interfere with the focus of the listener. Bloomberg Businessweek suggests that the important lesson to think about when giving the elevator pitch is "adjust the pitch with the person who is listening, and improve as you and your business continue to grow and change." When delivering the elevator pitch, individuals are encouraged to remain flexible and adaptable, and to be able to pitch in a sincere and eloquent way. Thus, the intended audience will likely be able to follow the information, and will not interpret it as overly written.

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Advantages of using Elevator Pitches

Advantages to pitch elevators, or elevator speech, include convenience and simplicity. For example, elevator pitches can be provided in a short period of time and without much preparation due to pre-planned content delivered in the pitch. Furthermore, elevator pitches allow individuals who give pitch the ability to simplify the content and send it in a less complicated way by providing information in a cut-down mode that goes straight to the core.

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See also

• High concepts
• Mission statement
• Vision statement

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References

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Further reading

• Pagliarini, Robert, "How To Write Speech Elevator", Business Know-How , Attard Communications, Inc.

Source of the article : Wikipedia