Forums: Discussions for entrepreneurs and small business.

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…..

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Karen Rands
A Venture Catalyst, Entrepreneur, Author, Speaker
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Chris Miller, a simple taco maker:
The Tiger Taco home in the U.S.A.
Tiger Tacos in Australia
Tiger Tacos in the United Kingdom

If you have a MIT Forum in your area - and most of us do, their Elevator Pitch session is right around the corner.  Here in Pittsburgh it`s 12/3.  It`s a great time and I go every year to either pitch, hear new businesses, or add some connections.  Their link is:

http://www.enterpriseforumpittsburgh.com/ 

Not one in our area; there should be as these seem tech heavy and that`s something we have in abundance here in the Valley of the Sun ... we have some similar ones, but to me coming armed for bear isn`t the same as the serendipitous nature of what I imagine when I hear "elevator".

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Chris Miller, a simple taco maker:
The Tiger Taco home in the U.S.A.
Tiger Tacos in Australia
Tiger Tacos in the United Kingdom