In Geoffrey A. Moore’s book “Crossing the Chasm” he gave a method for creating an Elevator Pitch for your business.
The idea is that you should be able to explain your product or service in the time it takes to ride up in an elevator.
It’s the same story when you are seeking capital. If you can explain why someone should back you in the time it takes to ride up in an elevator then you are well on the way to getting your first investor.
Here is how to get a great “elevator pitch” (EP) in two short sentences.
Just fill in the blanks ….
– FOR (your target customers – tighter the niche the better)
– WHO ARE DISSATISFIED WITH (the current market alternative)
– OUR PRODUCT IS (new product category)
– THAT PROVIDES (key problem -solving capability)
– UNLIKE (the product alternative),
– WE HAVE ASSEMBLED (key whole product features for your specific application)
As an example, Silicon Graphics has claimed a large share of the computers used for post film production. (Read Lord of the Rings & Avatar just to start). Besides raw computer power Silicon Graphics have all the physical connections film editors seek for the specialised film equipment they use.
So if they applied the Elevator Pitch Method above then it could be as follows …
EP – Silicon Graphics
– FOR post-production engineers
– WHO ARE DISSATISFIED WITH the limitations of traditional film editors
– OUR workstation is a digital film editor
– THAT lets you modify film images any way you choose
– UNLIKE workstations form SUN, HP or IBM,
– WE HAVE ASSEMBLED all the interfaces needed for post – production film editing
If we were to use this technique for ASSOB (Australian Small Scale Offerings Board) we would get an elevator pitch as follows
EP – ASSOB
– FOR high-growth companies wanting to raise between $200k and $10 million
– WHO ARE DISSATISFIED WITH the banks and lack of SME fundraising
– OUR alternative is Australia’s Most Successful Capital Raising Platform
– THAT mentors clients economically through a proven compliant capital
– UNLIKE paid advertisements in magazines, banks and other funding channels
– WE PROVIDE the information, people and process you need to give you the best chance at raising capital at an affordable price.
Now on to yours … and if you need to raise capital complete the form at capitalunderdogs.com