An elevator pitch (or elevator speech) is an overview of an idea for a product, service, or project. The name reflects the fact that an elevator pitch can be delivered in the time span of an elevator ride (for example, thirty seconds or 100-150 words). An elevator or lift is a Transport device used to move people or goods vertically from one floor to another
The term is typically used in the context of an entrepreneur pitching an idea to a venture capitalist to receive funding. An entrepreneur is a person who has possession over a company enterprise, or Venture, and assumes significant accountability for the inherent risks and the outcome Venture capital (also known as VC or Venture) is a type of Private equity capital typically provided to immature high-potential growth companies Venture capitalists often judge the quality of an idea and team on the basis of the quality of its elevator pitch, and will ask entrepreneurs for the elevator pitch to quickly weed out bad ideas.
It is said that many of the most important decisions made on the floor of the United States's House or Senate are made "within the span of an elevator ride" as a staff aide whispers into a Congressman or Senator's ear while they head down to the floor to cast their vote. The United States of America —commonly referred to as the The United States House of Representatives is one of the two chambers of the United States Congress; the other is the Senate. The United States Senate is the Upper house of the bicameral United States Congress, the Lower house being the House of Representatives
A variety of other people, including entrepreneurs, project managers, salespeople, evangelists, job seekers, and speed daters commonly use elevator pitches to get their point across quickly. An entrepreneur is a person who has possession over a company enterprise, or Venture, and assumes significant accountability for the inherent risks and the outcome hiyaA project manager is a professional in the field of Project management. Speed dating is a formalized Matchmaking process or Dating system whose purpose is to encourage people to meet a large number of new people
In 2008, Techcrunch launched an Elevator Pitch site. TechCrunch is a Blog about Web 20 products & companies many of the posts written by Michael Arrington. [1]
Contents |
Elements
An effective elevator pitch generally answers questions like. . .
- What the product is
- What it does for the buyer (e. g. the benefits)
- Who we are
References
References in fiction
An elevator pitch (literally done in an elevator) is a key scene in the movie Working Girl. Working Girl tells the story of a Staten Island -raised Secretary, Tess McGill working in the Mergers and acquisitions department of a
External links
- Video How to create an elevator pitch of the Canadian Broadcasting Corporation
- Audio Elevator Pitches from the Rice Alliance Information Technology Venture Forum
- Elevator Pitch article by Chris O'Leary
- Startup Nation Learn how to Deliver a Great Elevator Pitch
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