Stuck in an elevator with a well-known investor, but not sure how to make the most of your two minute ride?
Becky Reuber, a professor of strategic management at Toronto’s Rotman School of Management, has a few tips on how to craft an effective elevator pitch.
Here are Reuber’s four main points you need to get across to get investor attention:
1. What is your product/service?
Don’t launch into a technical explanation of how your product works, said Reuber. Keep it concise and to the point. For example: I make a tool that allows carpenters to hammer nails in hard to reach places.
2. Why are buyers going to buy it?
“The number one concern that people are going to be interested in is, do you have a compelling value proposition for a target market that you understand,” said Reuber.
