What is Elevator Pitch?

by Investing School on December 20, 2010

Elevator pitch is a marketing term that refers to the ability of being able to deliver a persuasive idea or speech within the span of an elevator ride. This is approximately 30 seconds to 2 minutes. This can be a compelling description of a person, organization, group or idea for a product, a service or project.

Entrepreneurs will often use elevator pitches when addressing an idea to a venture capitalist or an angel investor in hopes of receiving funding. The venture capitalists often make their decisions based on the quality of the elevator pitch and may even ask for pitches from a group of entrepreneurs in rapid succession in order to distinguish the good from the bad in a short time.

There are other occasions when one might use an elevator pitch which may be in a resume or when interviewing for a job. It might even be employed when out on a date or when meeting someone to summarize one’s professional abilities and services. It can also be used in proposals for a book, screenplay or blog. You can find these pitches in different media. It can be seen orally, written or in video formats.

There are also other types of people beside entrepreneurs who use elevator pitches to get their messages across. For example, project managers, salespeople, evangelists and even policy makers will use this method to communicate their ideas. You can even find teachers who will use this method as a teaching tool. The goal is to get the idea across quickly and concisely.

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