Ten common elevator pitch blunders and how to rectify them

Need to Know Thu 20 Aug 2015

Ramesh Sharma
Co-Founder

When you’ve only got a short time to get people interested, to hook potential investors or business partners and convince them of the quantifiable value of what you do and your proposition, it’s crucial that your ‘elevator pitch’ avoids these 10 common blunders.

Talking too much
Make sure your pitch is focussed, and conveys your drive, energy and commitment, but don’t cram too much in. Take time to hone it – and practice it!
Sharing ‘your story’
You will have a story, but the elevator pitch is not the place. Focus on the customer problem you are setting out to tackle, and explain the solution you intend to deliver.
Delivering fuzz not facts
Specifics are what will convince your audience to invest – so while you may be able to speak passionately about your business, save it for another day and concentrate on quantifiable facts about your solution.
Going into too much detail
Always remember that you have a limited amount of time – so while you may have many facts to share about your business proposition, stick to the headlines.
Preaching to the unconverted
You will feel passionately about your solution, but an investor doesn’t need to understand the emotional side to it – only the business potential. Save the sales pitch for the customer – this is your elevator pitch.
Leaving the best till last
If you build towards a punchline, you may find that he’s lost interest before you deliver it. Hook in your investor at the start of your pitch.
Failing to address the competition
Highlight the value you add to the market rather than concentrating on your solution in isolation – this acknowledges competition, and gives a clear statement to the investor that you understand how your solution differentiates.
Ignoring the people
Your solution is delivered by people, and investors know that – so don’t ignore your team when preparing your elevator pitch.
Forgetting back up
If you can’t hand over an executive summary of your business plan to reinforce the message you just delivered you will lose credibility. Make sure you have this prepared and to hand.
Failing to fix a follow up
A great elevator pitch will get investors interested – remember to capitalise on this and secure a follow up session to go into more details and close the deal.