How to sell your product in 60 seconds?

Elevator pitch is a popular presentation technique in the USA. Basically, the idea is that small entrepreneurs need to describe their business to an investor and convince him to invest or at least consider investing in the project in just a minute or two, the time it takes the elevator to reach a certain floor. 

Last Thursday we hosted the first elevator pitch at Unit.City. We invited 7 small companies and several investors and organized a draw. Several investors drew companies that would pitch to them from several lots. 

Accidentally I was the first investor to experience such pitching. As the elevator took off, the business owner told me quite clearly about the technology they have to offer and its advantages. But as one minute rapidly passed, he did not have enough time to tell me everything he had planned beforehand. As a result, unfortunately, I was not able to understand the whole business concept.

When we got out of the elevator, I gave him a couple of tips on what to do if you met an investor in the elevator, at a forum, or a party – and you have exactly one minute to make your pitch:

1. The investor is primarily interested in the profit he can make. Start with specifics, for example: "If you invest in my company, you will earn 300% per annum in 2 years."

2. Tell him that you already have clients and they are happy with the cooperation: "We already have clients who have increased their profits by 20% while working with us."

3. Convince the investor that you are not an amateur and already have the necessary experience that you constantly apply in your business: "I worked as a manager in company "X", and have excellent experience in this field."

Of course, this doesn't give you a 100% guarantee of success, but your chances of earning an investor`s interest will certainly increase.

If you are lucky enough to get a phone number or meeting invitation afterward, then you will definitely have enough time to talk about your unique technology or anything else that requires a detailed explanation.

Best of luck in your future endeavors!