I recently spoke at LeWeb, a large technology conference in Paris that's filled with entrepreneurs pitching to venture capital investors who are looking for the next big thing. In such situations where many people are vying for attention, the entrepreneurs who stand out are the ones who deliver their pitch in less than a minute, but still make their points quite persuasively.
Unfortunately, many small-business owners don't think enough about their company's story and how it comes across. I can say that with confidence because I've witnessed many ineffective pitches at conferences and chamber of commerce mixers. At the last chamber mixer I attended, I asked one person what he did. His response started with, "That's a good question…" Five minutes later, he was still trying to describe his new company, and I was trying to find a polite way out of the conversation.
Related: How to Make a Personal Connection with Customers
As a communications coach, I've developed a four-step exercise that will work for any company or product. You must simply answer each of the following four questions in no more than two sentences:
1. What do you do?
2. What problem do you solve?
3. How is your product or service different?
4. Why should I care?
By keeping each answer brief, you will develop a succinct story that should take no more than 60 seconds.
Let's use the example of an entrepreneur who is starting a housekeeping franchise. Based on those four questions, the company's story might sound something like this:
"We own Five Star Cleaning, an eco-friendly housekeeping service that pampers you and your home [what your business does]. Typical cleaning services make you prep your home ahead of time, supervise to prevent theft and hang around for hours while the cleaners do their work. Because we require no prep, this saves time right off the top, and we are bonded so our service is worry-free, allowing you to go about your day [what problem does it solve]. And, we always send a minimum team of three to get the job done quickly [how it's different]. Imagine coming home from a long day and your laundry is all done, your bed has been turned down and there are fresh flowers awaiting you. That's the extra pampering we offer that sets us apart from all the rest [why you should care].
Related: Five Strategies for a Winning Sales Presentation
Your first sentence should be a "Twitter-friendly headline." You should be able to describe your product or service in 140 characters or less, short enough for a tweet. In the example, Five Star Cleaning bills itself as an "eco-friendly housekeeping service that pampers you and your home." But many small-business owners don't create product descriptions that are short, catchy, distinctive and memorable. The Twitter exercise will help. If you can't describe your product in a sentence, go back to the drawing board.
If you can tell your story in well under 60 seconds and have some extra time, be ready to relate an example or story that makes your product or service more tangible. You'll notice that in the cleaning service pitch, we offered examples of pampering, such as turning down bed sheets.
Don't let your idea die because you've lost the attention of your audience. Grab your listeners in the first 60 seconds and they'll want to hear more.
Related: Five Signs You're Losing a Sale -- And How to Save It
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Comments:
Start with your core services and further add other attractive services are easy and effective way of describing a business. Here comes your communication skills which are necessary for every business success. If you define your business in an attractive way you have a good chance for rapid success.
My favorite part in this article is “Five Strategies for a Winning Sales Presentation”. This is very helpful with regards to attract customers within a very short time. Thanks for sharing such a nice article.
good article
Concise, thanks. Good stuff.
Agree with the list of 4. Practicing always helps keep it short. sd
I assume you read the title, and came down only to comment?!
It's also important, from an SEO standpoint, to determine what keywords are going to help your business rank in the search engines and use them in the very first sentence.
Totally agree, 30-45 seconds for brief, and rest for quick questions.
Didn't read the entire article, just those 4 bullet points. Thank You !
Very nice idea! Thanks!
I found your tips very helpful, Carmine. As a career practitioner (resume writer), I find it a challenge to explain to people exactly what I do, as most people don't truly realize what a resume should look like/read like! I think your tips will help me compose something concise as well as influential! Thank you, Stephanie
I guess Daryl does not do much. I'm sure the listener would be yawning for 14 of those seconds!
Hi Carmine! This is what I am waiting for. It would be more helpful to me. Thanks for sharing this post.
I am a COMMODITY TRADER and I was looking for reasons why I always fail to impress my Investors and you gave me more than one.Thank you very much.Brian.
Yeah. Like describing business as 'we clean your beds... that's it'. Really, where are you taking your audience in 15 secs?
This is what I was looking for. Thanks for sharing it in this manner. My new campaign starts on these four questions. :)
This article helped me to make a business presentation Im already sending to potential investors and clients, thks.
Very useful information. Thank you.
Bookmarked!!!
First impressions count, yet in the daily rush of things it's so easy to forget to practice and hone the use of those first few moments to best effect. Thanks for a succinct and clear reminder - I've just re-written my intro and pasted on cork board as a reminder to practice, and practice some.
60 seconds? That's forever. Should be narrowed down to 15 seconds.
Great post thanks, clear and well explained
Like I always say: If you don't have buyers for your idea then you don't have a business. The most important question is: "Who needs my idea and why?
Good post. These four questions that you list also happen to be the first four questions of Heilmeier Catechism. http://www.design.caltech.edu/erik/Misc/Heilmeier_Questions.html
First, it is not a fundamental mistake. Many make this mistake in daily usage. Second, good knowledge of grammar is not a sufficient or a necessary condition for success or wisdom and so people usually forgive those mistakes. (Pl do not waste your time by finding grammar faults in my message. I know there are lots.)
Nice and informative :) like it
Thank you for exemplifying the four focal questions. Makes for a crystal clear read.
Great post: simple guide to ensure one consistently and succinctly tells the customer story.
Great post: simple guide to ensure one consistently and succinctly tells the customer story.
Very useful information. I made a note of it.
keep the four questoins in my mind.
Thank you so much sharing this, I will use this suggestion on my next presentation.
Thanks Carmine for reminding us about the famous 60 seconds which is similar to presenting your company to a director in a lift....
Thanks Carmine with this technique one can truly sell himself and his business and concept in very little time.
Why would anyone read anything with a fundamental grammar mistake in the title? My 2nd grader is learning the difference between less and fewer!
I will incorporate this information into my presentations. Thank you.
The Twitter Friendly headline tip is awesome. Especially in today's business it is so important to be laser focused on what you do, how you are different and how to stand out. Thank you for sharing your advice and tips Carmine - and I like how you got right to the point!
I've seen a lot of these 'elevator pitch' articles over the years, but I really like that you kept it to only 4 questions, in 60 seconds, AND the why should anybody care element. That question has been the toughest for me to discuss with potential clients. As a marketer, i find myself very frequently preaching the KISS (keep it short and sweet) concept. Small business owners and others, passionate about what they do, forget that going on and on tells us a lot about how you 'feel' about your product/service, but it doesn't tell us anything about what you 'think' about it. My one 'big gun' question when facing a particularly tough client is; "how long does it take you to switch the channel when a commercial comes on". That usually brings them back on point. Even if they are unable to 'knock it down to size', they are much more willing to let me assist them.
Thanks for reminding us of how critically important mastering the first 60 seconds is. Not only are the words important, but the delivery is too. It really helps if you are sincere and pasionate about what you do. In addition to the first 60 seconds, attention should be given to the follow-up for the pitch. A lot of small business owners who master the elevator pitch don't know where to go from there. They peak the interest of their elevator listener and forget to ask the listener to see how they can fill a need, ease the pain or save the day. Practicing the follow-up helps turn what could seem like cold sales to heroic connecting.
Required reading for any entrepreneur seeking investment, or for any sales team approaching a prospect. The level of understanding entrepreneurs have about their innovations works against them in light of what your article says. When someone asks what time it is, they don't want to hear how to build a watch. Great insight!
Great advice. I followed your four-step exercise and built a solid pitch in less than an hour.
Excellent point, can't insist more on the importance of first 60 seconds.
Great reminder that you have one shot, not one long winded sentence, but a series or short and concise bullet points!
I met these guys a few years back that have an entire business around helping organizations build their Elevator Speech. Totally worth checking them out if you need help!! http://www.elevatorspeech.com/
Great article. Mastering the art of the pitch and selling your story is key to standing out from the competition.