Elevator Pitch

The elevator pitch (or elevator speech ) is a short, informative and concise overview of an idea for a service or a product, and means " elevator presentation ". The name comes from the fact that the pitch ( the sales pitch ) can be carried out in the short time of an elevator ride (approx. 30 seconds). In the 1980s young career-minded salespeople used the duration of an elevator ride to convince their superiors of their concerns.

The term is now typically used in the context of entrepreneurs who acquire their idea with the aim of financial resources, presenting to potential investors (eg venture capitalists ). They evaluate the quality of an idea and the founding team often based on the quality of the elevator pitches so as to weed out poor ideas quickly.

Essential in the elevator pitch is the most striking presentation through mental images, comparisons and examples according to the AIDA formula (Attention -Interest - Desire- Action ). Especially in today's era of tight time budget increases the applicability of a concise 30-second presentation.

In preparation, you should analyze and define the objectives of the elevator pitches, the relevant market, the target group and the specificity of their own products or services compared to its competitors.

For the success of an elevator pitches but include not only facts and figures: The decisive factor is the emotional appeal. The good feeling is achieved with the interlocutor through a pictorial language that evokes positive associations, the body language and voice.

The elevator pitch is the verbal counterpart to the written executive summary in the business plan.