Having a great business idea is one thing. But how can you communicate it so convincingly that outsiders become excited about it and, ideally, are willing to invest? Whether someone is a customer, business partner or banker, an idea that persuades from the start has a good chance of being implemented successfully.
Summing up the benefits of your company or products in just a few words is difficult for most entrepreneurs. Yet the first sentences often determine success or failure. The idea behind an ‘elevator pitch’ makes the point: imagine meeting a decision-maker in a high-rise elevator and winning them over during the short ride so that they spontaneously agree to a meeting.
A successful pitch depends on knowing your target audience and its needs. It addresses these questions:
- Who are my customers?
- What problem can my services or products solve for them?
- What makes my offering distinctive from the customer’s perspective?
- What do I need to bring my business idea to market successfully?
- What can I offer a potential business partner or investor?
Your pitch’s objective also determines the words you choose. Do you want to sell, or are you seeking support? Answer those questions for yourself before finding the right phrasing.
To connect with the person you’re speaking to, it helps to address needs and feelings. For example, am I offering order through new office equipment, support through bookkeeping services or security through insurance? Or does my product or service give buyers a sense of freedom, calm, safety or relaxation?
You should consider and develop a possible pitch as you write your business plan. Use WiReGo’s advice and support to prepare as well as possible for your pitch and the many other questions involved in self-employment. Alongside individual advice, WiReGo’s many events, especially the regular founders’ meetup, provide a good opportunity to develop a convincing pitch step by step.
