There are two important points there:
1) You absolutely must have a strategy to disarm sales resistance in your prospects if you're selling 1:1.
2) When we meet someone new, we subconsciously look for proof they're like us (and not a threat to our existence). Maybe that looks like "I have two kids too" or "I was just in [your hometown]." Once our lizard brain gets that confirmation, it's much less defensive.
I've found that it's best when the prospect asks you what you do on the 3rd question. That's when you unleash your Unique Selling Proposition.
---James Clouser, Copywriter & Marketing Consultant http://www.jamesclouser.com
Ask anyone you can think of whether they like to listen to an elevator speech. Then ask the same people whether they like to give an elevator speech.
I think you'll find that you'll get almost 100% NOs. An elevator speech might be a good option if you can corner someone very significant and you'll only have one shot.
I think a much better way is to have an elevator conversation. Maybe ask the person what they do, people love to talk about themselves, and they'll almost certainly ask what you do. Michael Port's book, "Book Yourself Solid" explains the idea very eloquently.