Elevator pitch
Encyclopedia
An elevator pitch is a short summary used to quickly and simply define a product, service, or organization and its value proposition
. The name "elevator pitch" reflects the idea that it should be possible to deliver the summary in the time span of an elevator ride, or approximately thirty seconds to two minutes.
A variety of people, including project manager
s, salespeople, evangelists
, and policy-makers
commonly rehearse and use elevator pitches to get their point across quickly. An elevator pitch may be presented in oral, written, and video formats.
An elevator pitch is often used by an entrepreneur
pitching an idea to a venture capitalist or angel investor
to receive funding. Venture capitalists often judge the quality of an idea by the quality of its elevator pitch and will ask entrepreneurs for their elevator pitches in order to quickly weed out bad ideas and weak teams. Elevator pitches are also used in many other situations. Personal uses include job interviewing, dating, and summarizing professional services.
Value proposition
A value proposition is a promise of value to be delivered and a belief from the customer of value that will be experienced. A value proposition can apply to an entire organization, or parts thereof, or customer accounts, or products or services....
. The name "elevator pitch" reflects the idea that it should be possible to deliver the summary in the time span of an elevator ride, or approximately thirty seconds to two minutes.
A variety of people, including project manager
Project manager
A project manager is a professional in the field of project management. Project managers can have the responsibility of the planning, execution, and closing of any project, typically relating to construction industry, architecture, computer networking, telecommunications or software...
s, salespeople, evangelists
Evangelism
Evangelism refers to the practice of relaying information about a particular set of beliefs to others who do not hold those beliefs. The term is often used in reference to Christianity....
, and policy-makers
Public administration
Public Administration houses the implementation of government policy and an academic discipline that studies this implementation and that prepares civil servants for this work. As a "field of inquiry with a diverse scope" its "fundamental goal.....
commonly rehearse and use elevator pitches to get their point across quickly. An elevator pitch may be presented in oral, written, and video formats.
An elevator pitch is often used by an entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
pitching an idea to a venture capitalist or angel investor
Angel investor
An angel investor or angel is an affluent individual who provides capital for a business start-up, usually in exchange for convertible debt or ownership equity...
to receive funding. Venture capitalists often judge the quality of an idea by the quality of its elevator pitch and will ask entrepreneurs for their elevator pitches in order to quickly weed out bad ideas and weak teams. Elevator pitches are also used in many other situations. Personal uses include job interviewing, dating, and summarizing professional services.
External links
- Elevator Pitch builder from Harvard Business SchoolHarvard Business SchoolHarvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
- Business Know-How - The Art of the Elevator Pitch