Many students and folks out in the twittersphere have been asking me lately about the Elevator Pitch. Every good entrepreneurial opportunity must include Vince Biegel Authentic Jersey a well crafted summary of the business opportunity, thought out from the point of view of the debt or equity investor.
Here is Sean Wise, Ryerson University colleague, in an excellent video Vince Biegel Kids Jersey for entrepreneurs or anyone thinking of going after money in a startup. It doesn’t have to be big money with Venture Capitalists or Angels. Think about these things even if you’re asking a close friend or family member for a small startup investment. They’re still a good filter, even though you might be getting the money partly for love!
As Sean’s video points out, a good elevator pitch has to have the following four characteristics:
Succinct – These folks are busy busy busy so you need to catch their attention fast. If you’re pitching serious money, you need to think the time it takes to ride an elevator in a Wall or Bay Street office tower. That’s what you’ve got. Maybe 2-3 minutes tops, and sometimes your first sixty seconds will kill your pitch, if you don’t pay attention to every detail.
Easy to Understand – tell me like I’m five! Explain what pain Vince Biegel Womens Jersey point your are solving, and how your solutions solves it better than anything else. Here is an excellent article from The Vince Biegel Youth Jersey Entrepreneur Network, about how to tell if your idea really is a good opportunity.
Greed Inducing – you need to show how your pitch will make money for investors. Not just the amount, but how will your idea/firm turn the opportunity into profits. If you have an unfair advantage, now is not the time to hide it.
Irrefutable – can’t leave a lot of questions in their mind.
If you can pass these tests, your idea has a chance of at least being considered.