I would like to share my humble experience in elevator pitch with you.
Elevator pitch is a powerful way to outline your business and to get invitation to deliver a more detailed presentation.
As entrepreneur you need to present your idea or startup to investors interested in early stage investment.
How much time do you think you need for your pitch?
Well, i thought i will have 30 minutes but actually I only had less than 2 minutes.
What are the main points that should be in the elevator pitch?
1. Describe clients pain.
2. Describe your solution.
3. Your potential Market ; be specific while addressing the market size.
For example do not say internet users, instead internet users ages between 18 – 30 from the Middle East = 5,000,000 users and the market is growing 20% every year.
4. Business Model “How do you make money” ; use simple and straight revenue streams.
5. Competitors, remember every business has competitors; describe how your business is different and better.
6. Money, you are here to raise money:
- How much money do you need and how would you spend it : Marketing Campaign, Hiring people … etc
- When your business will break-even
- Why investors should invest in you
How Should you pitch?
- Use simple language
- Try to start your pitch with a simple story that will describe clients pain to create a visual image to investors.
- Talk with confidence.
- Practice, Practice, Practice , pitch to friends and family.
This is my first elevator pitch at ArabNet Beirut, I admit that I was a little bit nervous 🙂