Going up anyone?
Are you able to present your product or company in less than 30 seconds, or simply put, in the time it takes to go up from the lobby to the top floor in an elevator ride?

This article is a version of the presentation I gave to entrepreneurs that are going to GDC 2009 in a few weeks. I’ve splitted it in two parts for an easyer read.

If you’re trying

• to initiate a partnership
• are looking for funding
• or to spark the interest of a potential publisher to distribute your title
• are selling your services

you’ll be well advised to practice the art of the elevator pitch.

Here’s an example of what it sounds and looks like.

What is it?
It’s a short presentation of your service, project or product. It must be efficient, succinct and clear and must answer five fundamental questions:

• What do I want from you
• What is this product, service or project?
• Which problems does it solve or  what need does it fulfill.
• In what ways this solution is different from the one of competitors and finally,
• Why should you be interested or simply put, how much money can you make out of this?

These questions are not only the ones that the person you are speaking to is asking him/herself but also at the root of your business plan. So for starters, get your business plan in order. If you are clear on your business goals and what you need to do, who you need to meet and convince, you have a much better shot at it.

1. Without content, no money
Everybody has ideas. Thank God for that! However, ideas don’t make money; products and services do! Pitch something real; something that exits elsewhere than in your head! Don’t use people as sounding boards for ideas… It’s a very tempting thing to do but very counter-productive since you’re trying to convince you know what you’re doing! You’re not here to explore, you’re here to tell them what you have to offer them. Now, here’s a cruel reminder of what happens when we’re trying to sell thin air, check out CBC’s Dragon’s Den, Season 3, episode 2, and look for E-Pawn at about 33:06.

2. Smaller is better
Your pitch has to be short; 30 sec is basically a TV spot. In writing, it takes about 100 -150 words. The objective here is not to bore your audience with all the tiny details of your product or project but to engage a dialogue with this person in the hopes that he/she asks for more. For a longer pitch, just multiply 300 words X number of minutes you need to fill. But bare in mind that whatever the length, the first 30 sec is your ticket to success!!!

3. Clear as can be
Forget about demonstrating your encyclopaedia Britannica knowledge, quantum theories, buzz words, acronyms and stereotyped language. Use popular science terms. Be practical and concrete and use examples and images to illustrate the hardest concepts to grasp. The best pitch is one that your neighbour can understand.

4. Invented the wheel, have you?
Talk about the problem you are solving. One of frequent mistake entrepreneurs make is to create a service/product and to ask themselves after words what are its benefits. A good pitch explains in clear and concise terms the problem you are trying to solve, for whom and why is it an issue.

5. Are you the man for the job?
Who are you to boast having found the perfect solution to the problem described earlier? What are your credentials –
what type of work, education and even better – what achievements attest that you or your company is a specialist of that problem? Even thought the pitch is about the need for a product (or service), it’s also about the pitcher…

6. Many mediums, one message
Your message is unique as your product, solution or company. While it should remain the same in meaning to whomever you deliver it, you should modify the form and adapt it to the different audience you are trying to convince. Your investor does not have the same concerns or comprehension of the problem than the ones of a potential employee, or of your most valuable client-to-be.

7. Do you have your numbers right?
The whole purpose of the pitch is to spark enough interest so the person in front of you asks a few questions. Invariably, the one thing on his mind is what’s his benefit in this. If you are fortunate enough to have sparked an interest from your vis à vis, be prepared to dish out numbers and sustain a tsunami of though questions about what you will do if things go sour. For example, make sure your forecasted sales are sound and your valuation of your company’s worth is fair. Set your business priorities straight and be ready to communicate them if needed.

Read part 2 for the following tips