You are a young, ambitious startup founder, and you are on your way to a meeting with some big-shot Venture Capitalist. The only problem is, only you know you intend to meet. He doesn't know you and is not interested in you or your big fancy ideas.
You know it's risky to go to the office of the investment fund, but heck you are desperate.
You mainly wait in the lobby trying to look important and then you see him!
So you follow him to the elevator acting as if you are going to the same floor.
The doors close, it's just you and him. It's show time.
You start talking about your idea in a way you've practiced a thousand times already, and because you've practiced, it doesn't come off as desperate but just a curious investment opportunity.
He is impressed, you exchange cards, and you got your first VC contact. Congratulations.
Well, not exactly, I'm convinced these types of approaches must go wrong all of the time, but what you just did was amazing and I'm gonna say why.
Startup lingo on making pitches for investors in Silicon Valley by the time it takes for the elevator to go up 7 floors, or 40 seconds.
And why should you do it? And why was it so awesome?
Benefits of the Elevator Pitch
It forces you to narrow down your pitch and focus way more clearly on the main ideas you want to come across.
If you practice enough times, you start seeing the idea more clearly and start to come off as more confident.
Now, why was it amazing? By practicing a reduced version of your pitch, you just made the idea clearer inside your head, and you've started to prioritize things, cleaning off the message.
And that is useful even when you are doing longer form pitches because you stay centered on the main key points.
That is it for today and I hope you have a great day!