Episode 2 — avistaram, Elevator Pitch
अविस्तरम् असंदिग्धम् अविलम्बितम् अव्यथम् |
उरःस्थम् कण्ठगम् वाक्यम् वर्तते मध्यमे स्वरम् ||
— Valmiki Ramayan 4-3-31
Communication Skill 1 – avistaram, Not being elaborate
Valmiki used a single word for the modern management concept ‘ elevator pitch’. What is ‘elevator pitch’?
An elevator pitch is a brief (in about 30 to 60` seconds!) way of introducing yourself, getting across a key point or two, and making a connection with the party of interest. It’s called an elevator pitch because it takes roughly the amount of time you’d spend riding an elevator with someone of interest.
Imagine you happen to ride in the same elevator with someone with whom you are dying to meet for a long time, say CEO of your organization. What would you do? You are getting ‘once in a lifetime opportunity’ to have a private conversation with someone who matters the most in your professional life but you have the challenge first to get his/her attention to listen to you earnestly and second to impress him on your ask before he gets down from the elevator, normally within 30 to 60 seconds. Visualize the comic scene of you desperately holding the elevator button and waving hands to your CEO to ask him to stay back in the elevator until you finish your speech. You for sure can expect the ‘pink slip’ and not your promotion letter.
Who would benefit the most from ‘Elevator Pitch’?
Practically everyone.
Project managers, salespeople, and job seekers use elevator pitches as a way of marketing themselves, their products, or their ideas. Entrepreneurs use effective ‘elevator pitch’ to attract investment from the investors.
How Long Should an Elevator Pitch Be?
An elevator should normally be about 30 to 60 seconds long—brief, but just long enough to touch on the important points. If you give a successful pitch that piques your audience’s curiosity, you’ll have time later to go into greater detail.
At times, one may get longer time window to convey your point such as exploratory meeting with a prospect. You need not rush through but being ‘brief and concise’ would still apply. They are ‘metro train pitch’ rather than ‘elevator pitch’ but still nobody is interested to listen long than their budgeted time.
Tips for effective elevator pitch:
- Keep it brief : Remember, you’ve just got a few seconds to deliver your message. There will be time for sharing more information during the follow up.
- Target your pitch to the context.
- Practice: It will probably feel awkward the first few times you introduce yourself this way. The only way to get better and to feel more comfortable is to practice! Have a draft ready.
- USP: You cannot afford to have your ‘elevator pitch’ of run of the mill type. You cannot attract attention. You should project an unique solution / idea like Why your solution is unique, has a competitive advantage, or is superior to other solutions
- Have an ask: Don’t hesitate to ask. All ‘elevator pitch’ invariably end with the ask and the available timeline for the pitch is including the time for the ask. Always give the person you’re talking with a way to be helpful. Whether it’s through sharing information or making a professional contact, let them know how they can help you.
- Follow up: You will naturally be not able to conclude the deal during the elevator pitch. You should be happy if the pitch ends up with a good start. You will need ‘follow-up’ for sure. Very good ‘elevator pitch’ will not be of much use without consistent follow-up. Use email or LinkedIn to follow up. Remind the person of the context in which you met, thank them for speaking with you, and find a way to continue the conversation
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