Showcase your business in a minute

“Brevity is the soul of wit”, the saying goes, implying that speaking in a brief and succinct way doesn’t apply only to communication but is more an outlook on life. This phrase is more relevant than ever, especially in today’s business environment, where the protagonists must be able to quickly convince their audience — from investors to end consumers — that their business stands out from the rest, even if it’s still at the concept stage.

Time is precious, long presentations and complex business plans are ineffective and belong in the past, and potential rivals are no doubt moving at a fast pace. So any business that wants to make its mark must be able to introduce and present itself in just a few minutes. In the life-cycle of a business, and especially in its first steps, opportunities may be few and far between, which means that entrepreneurs should be well prepared to make the most of them when they do arise.

The key features of a successful elevator pitch

An elevator pitch is a short — usually up to 60 seconds — description of your business, with the main objective of grabbing the attention of the audience you’re addressing, and reaping the maximum possible benefits. This is something that requires a lot of thought and practice, so that all the strengths of your business or idea can be conveyed, while refraining from getting side-tracked by details, even if they are also very important. Therein lies the greatest difficulty.

As demanding as this may sound, here are a few key points that you might find useful:

Start with a concise and clear description of your business’s activity, the way it operates in the market, and your expectations for the future. Tip: Accurately assess what would be of interest to your respective audience, as anything unnecessary will not leave time for more important information.
Strictly stick to one minute, which is the average length of an elevator ride – very short, but still enough to grab someone's attention.
If you can, make sure you find out as much as possible about who you are addressing each time. When meeting with a prospective client, a potential investor or with consumers, you must prepare your presentation in a different way depending on who you're talking to. The goal, the business viewpoint and knowledge in each case are different, and your pitch should be tailored accordingly.
Identify your audience’s key concern and make sure you address it. Speak with faith in your idea and your business but avoid exaggerations that might damage your reputation or the public's degree of trust in it.

As difficult as it may seem to condense the value of your business's existence or development into just a few sentences, the result will certainly serve you well. Your aim is to highlight the strengths that make your business stand out and, therefore, win over your audience.