Here at Tech Ranch®, and in basically all other entrepreneur development courses, we discuss “The Elevator Pitch”. It is a fundamental requirement for all entrepreneurs to master in order to articulate what they do, how they do it and why they do it. That being said, however, there are many situations for which the elevator pitch needs to be adjusted to pack the most punch.
Depending on the audience and intended outcome, you won’t want to simply rattle off the elevator pitch you’ve memorized…and for that matter, you shouldn’t have to memorize it! The pieces are there in your mind and you will put them together in different ways depending on who you are speaking with.
I’ve put together a matrix that outlines 9 various pitches that you should be prepared to give. They are only slightly different but it is important that these slight changes are made to make the most out of the 30, 60, 90, etc. seconds that you have in the elevator/on the train/at a happy hour with a given person.
So, what do you see here? There are approximately 15 pieces of information that you should have top of mind…and shockingly these are the pieces of a full investor pitch or business plan. Articulating each of these and reading your audience are the keys to walking away with a follow-up. Please note that there is a difference between a request and an ask. The request is, traditionally, easier to deliver on. For example, “I’d love introductions to others looking to start a new business”. The ask generally is for something larger, such as introductions to investors or board members.
I encourage you to record yourself, practice with friends and do a little role-playing to ensure that you are hitting the mark, no matter who or where you run into an opportunity.