What is an elevator pitch for venture capital?
Elevator pitches encapsulate the essence of a business venture, offering VC investors a glimpse into the
Keep your elevator pitch goal-oriented (e.g., "I help companies like yours increase production by up to 30% without additional cost.") and always end with a business card or request to connect on LinkedIn.
Clear – an effective elevator pitch should be understood by a layman, rather than being filled with acronyms and industry terminology. Compelling – what problem does your business solve? What can you do for your target audience? Credible – spell out what makes you qualified to do what you do.
The best elevator pitches are brief and to the point, and they leave the listener wanting to hear more. To craft a successful elevator pitch, you need to focus on three things: what your business does, what problem it solves, and why someone should invest in it.
General elevator pitch template
Introduction: “Hi I'm [name], a [position title] at [company name]. It's great to meet you!” Problem: “Since you work with [company name or industry] I figured you'd be interested to know that [problem + interesting statistic].”
"Hello, I'm [Your Name] from [Your Company]. We provide [Your Product/Service], solving [specific problem] for [target clients]. Using [unique approach], clients typically experience [quantifiable benefit]. Let's chat about how [Your Product/Service] could elevate [Prospect's Company]."
According to Polovets: “The hands down best way to introduce yourself to a VC is through a mutual connection, so always try that first. Either connect on LinkedIn, mention your shared contact, or best yet, get a warm introduction from your friend or another member of the investment firm.”
For example, if you're pitching a product based upon your career experience, your hook might sound something like this: “At my first job in content marketing, I did not know how to manage my time.” If you don't have a personal story to share, you can also start with a statistic that inspired your business.
What are the differences? Basically all three of them have the same content, but it's a matter of details. You start with the business plan that has everything about the business, then make a more compact version for the pitch deck and finally you create an elevator pitch that has the essence of your business.
But there are key differences between the two. An elevator pitch is short, concise and meant to be delivered verbally. Its purpose is to capture interest and get the message across within 30 to 60 seconds. A pitch deck is a more detailed presentation that provides more information and context.
How long should an elevator pitch be?
An elevator pitch should last no longer than a short elevator ride. Usually this time is between 30 and 60 seconds, or 50 and 200 words. Some experts suggest writing elevator pitches that are as short as 15 seconds.
Refrain from using jargon or unfamiliar language. Don't bore people with useless information that is of no significance to them. Ideally, an elevator pitch should be structured for each target audience. Don't ramble on and make the pitch longer than 30 seconds.
At the meeting, ask the investor what you're interested in learning more about. You've done your research, so you might have a list of a few questions about their background and interests. When you sit down, simply asking, “How'd you get into venture capital?” is usually a safe place to start.
While they review the deck, they make mental notes to validate whether they should spend more time on a particular investment opportunity. The typical information they look for includes: The vertical in which the startup is active. Where is the startup located, and what geographical markets it targets.
Jobs in Venture Capital are notoriously hard to land. They don't come by often, and they are seldom advertised—except in large VC firms, mainly for entry-level positions. Aspiring VCs often don't understand Venture Capital well enough to apply at the right type of firm, or one that is interested in their skillset.
According to a study by Crunchbase, only 0.05% of startups that apply for venture capital funding actually receive it. There are a number of reasons why raising venture capital is so difficult. First, VCs are looking for startups that have a high potential for growth and success.
A common rule of thumb for creating a VC pitch deck is to follow the 10/20/30 rule. This means that your pitch deck should have no more than 10 slides, last no longer than 20 minutes, and use a font size of at least 30 points.
1. **Loss of Investment Capital**: The most immediate impact for venture capitalists is the loss of the capital they invested in the company. If the company fails completely, the venture capitalist may lose the entire amount of their investment.
An elevator pitch is a brief (think 30 seconds!) way of introducing yourself, getting across a key point or two, and making a connection with someone. It's called an elevator pitch because it takes roughly the amount of time you'd spend riding an elevator with someone.
Consider sharing your name, year in school, major skills and career goals. Include personal information only if it is relevant to the work for which you are applying. Here are some examples to help you get started developing your 30 second elevator speech.
What is the most important part of an elevator pitch?
Your Unique Value Proposition: Your elevator pitch should clearly and succinctly communicate the unique value your product, service, or idea provides. This UVP is the most important aspect of your pitch, as it is what will make you stand out from the competition.
THE NINE C'S OF AN EFFECTIVE ELEVATOR PITCH
1. Concise 2. Clear 3. Compelling 4.
Short: 30-60 seconds and to the point. Interesting: Whether it's through storytelling, humor, data, fear, or something else, your elevator pitch needs to be able to capture attention, keep attention, and be memorable. Personalized: Just like good ad copy, a good elevator pitch is catered to the audience.
A good elevator pitch should be concise yet persuasive, touching on what you do, who you serve, and what differentiates your business from the competition. The goal isn't necessarily to start a sale but instead a conversation with your small business pitch.
Each portion of your elevator speech should be one or two sentences. Your pitch should be able to be read out loud in just 60 seconds or less. Here's our six-step process for writing an elevator pitch.
