Mastering Your Elevator Pitch: Essential Tips for Small Business Owners

Elevator Pitch – We have all heard of having an elevator pitch but what does that really
mean and who are you meeting in an elevator anyway? The goal of this is to get a quick
story into a prospect or referral source’s head to engage them in further discussion.

Albert Einstein famously said,

“If you can’t explain it simply, you don’t understand it well enough.”

Creating a compelling elevator pitch for your company is like preparing a quick, tasty
appetizer—it’s short, enticing, and leaves people wanting more. An effective elevator
pitch is crucial, especially for small businesses aiming to make a big impact with limited
resources. Here are some best practices to help you craft an elevator pitch that really
resonates:

1. Keep It Short and Sweet: Aim for about 30 to 60 seconds. That’s roughly 150 to
   225 words. Like the perfect espresso shot, it should be strong and quick.
2. Focus on the Problem You Solve: Start with the pain point or the problem your
   business addresses. This hooks your listener and makes the pitch relevant to
   them. For instance, if you’re a landscaping business, you might start with, “Ever
   feel like you don’t have enough time to make your yard look the way you want?”
3. Add Your Unique Solution: Quickly explain how your product or service solves
   this problem. Be clear and use simple language. Using the landscaping example:
   “Our hassle-free landscaping services help you achieve the garden of your
   dreams without lifting a finger.”
4. Know Your Audience: Tailor your pitch depending on who’s listening. The pitch to
   a potential investor might emphasize business growth and revenue potential,
   while a pitch to a customer would focus more on the benefits they would receive.
5. Communicate Your Value Proposition: What makes your offering unique?
   Highlight what sets you apart from the competition. Maybe it’s your innovative
   approach, your commitment to sustainability, or your superior customer service.
6. Have a Call to Action: End with a clear call to action. What do you want the
   listener to do next? It could be a visit to your website, scheduling a meeting, or
   just exchanging business cards. For example, “Visit our website to check out our
   project gallery, or let’s set up a time to discuss your specific needs!”
7. Practice Makes Perfect: Rehearse your pitch. It should feel natural, not robotic.
   Practice in front of friends or mentors and ask for feedback.
8. Be Passionate and Personable: Show enthusiasm for your business. Passion is
   contagious and can be the most persuasive element of your pitch.

Here’s how these elements could come together for a small craft brewery: “Know how it’s
tough to find a genuinely refreshing beer that’s also organic? At Green Hops Brewery, we
brew premium organic beers that not only taste great but are made using sustainable
practices, right here in [Location]. We support local farmers by sourcing our ingredients
regionally. Interested in trying a sample? How about we set up a tasting session for you
at our brewery?”

This pitch covers the problem, solution, uniqueness, and includes a call to action, all
while being brief and hopefully, memorable!

It is imperative that in order to have a compelling Elevator Pitch, you must have a clear
Unique Selling Proposition (USP)

Identifying Your USP

The USP focuses on a feature or set of features that makes your business uniquely valuable to
your customers. Here’s how you can identify yours:

1. Analyze Your Audience: Understand who your customers are and what they really
   value. This might involve some market research like surveys, focus groups, or even just
   having conversations with your current customers.
2. Survey the Competition: Look at what your competitors are offering. Identify areas
   where they aren’t meeting customer needs fully, and think about how you can do better.
3. Reflect on Your Strengths: What do you do best? It could be anything from offering
   unbeatable prices, superior technology, a more personalized service, or even an ethical
   commitment that resonates with your audience.
4. Consider Your Motivations: Sometimes your passion for certain aspects of your
   business can lead you directly to your USP. For example, if you started a bakery
   because you wanted to bring authentic French croissants to your town, that’s a potential
   USP.

Communicating Your USP

Once you’ve identified your USP, it needs to be communicated effectively in your elevator pitch.
It should be a focal point that immediately catches attention and remains memorable. Here’s
how to weave it into your elevator pitch:

1. State It Clearly: Don’t be vague about what makes you unique. Be as specific as
   possible. Instead of saying “We make great beer,” say “We brew the only organic,
   gluten-free ale in the area.”
2. Explain the Benefits: Always link your USP back to how it benefits the customer or
   solves a problem. If your USP is using only organic ingredients, explain why that
   matters—perhaps it leads to higher quality, better taste, or supports the customer’s
   lifestyle.
3. Keep It Concise: While it’s important to highlight your USP, remember that your elevator
   pitch should still be short. Don’t overwhelm the listener with too much detail—focus on
   just enough to spark their interest.
4. Use Passionate Language: Since the USP is likely a core reason why you’re
   passionate about your business, let that show. Enthusiasm can be a compelling
   persuader.
   

Example of a USP in an Elevator Pitch

Let’s consider a tech startup that has developed a new app for remote workers. Their USP
might be the app’s ability to integrate seamlessly with a wide range of other tools, something
competitors don’t offer. The pitch could go like this:

“In today’s remote work world, do you find it challenging to manage multiple tools and platforms
effectively? Our app, SyncSpace, is the first that integrates all your tools—email, project
management, and communication—into a single interface. This means less switching screens
and more productivity. It’s the only app that works with more than 50 tools. Interested in seeing
how much time you could save? Let’s schedule a demo!”

This pitch quickly introduces the problem, presents the USP, and shows the benefit, all while
inviting engagement through a demo. It’s a straightforward, effective way to catch interest and
invite further conversation.