The “elevator pitch” to an investor
Every entrepreneur has heard they need to have an “elevator pitch”. So what is that? What does that really mean? Most entrepreneurs want to drone on for 30 minutes talking about their business opportunities almost in the hopes that a VC or group of investors will say…..”OK, OK…I give. I’ll invest if you will just shut up!”.
News Flash….that is not how it works. I’ll talk about the perfect investor pitch another time….for now, let’s talk about the elevator pitch.
The Elevator Pitch is supposed to be a 30 second sound bite. It is the sizzle. So when an entrepreneur is at a cocktail party or in an elevator, they can give a nugget about their opportunity so if the person they are talking to is an investor, they will respond in any of the following ways:
“Wow, that is really interesting, I’d like to learn more. I may be able to help you with capital and resources. Here’s my card, call my office and set up an appointment.” OR
“Hey, I was just reading about that stuf…you’ve figured it out. Are you looking for money to grow your business? Why don’t you meet me and some of my friends for lunch on Tuesday so we can learn more.” OR
“Hmmm…. Got a few minutes? Let’s get a refresh and step over here to this table where it is a little quieter and we can talk more.”
“Very interesting. Are you raising money? I’m part of the Network of Business Angels and Investors….NBAI. (www.nbai.net) We hold regular events where companies pitch to our investor group. I’d like to nominate you to the screening committee. Here’s my card, send me your executive summary so I can pass it along.”
What you don’t want to hear…..
“Oh, sorry… I see someone I haven’t seen in years I need to go talk to….right now!”
“Oh, look….they just refreshed the fried chicken gizzard tray….love these things….talk to you later.”
Or, to listen to my radio show episode on The Elevator Pitch, go to: www.blogtalkradio.com/karen-rands the 3/21/08 episode
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