Get All Access for $5/mo

5 Tips to Perfect Your Elevator Pitch Communicate your value proposition quickly and effectively to win more business.

By Mauricio Umansky Edited by Russell Sicklick

Opinions expressed by Entrepreneur contributors are their own.

A polished elevator pitch is essential in our fast-paced world. Not only will it allow you to quickly and effectively communicate your value proposition, but it can also help you win more business. In the luxury real estate industry, it is essential to demonstrate the ability to communicate who you are and what sets you apart quickly and effectively. This ensures that the important differentiators and value-driven items are conveyed clearly. I learned early on how important an elevator pitch was to my business. By mastering this brief and powerful statement, I've been able to grow my business, my network and the joy for what I do.

First things first, a real estate professional needs to master answering the question, why should I hire you to sell my home. The response should be quick and memorable in order to stand out in this competitive industry. As my business as an agent grew and the company expanded our services, I fine-tuned my pitch to better communicate our firm's unique value proposition. Whether you are an entrepreneur starting out or a CEO of a company, I've outlined five key tips to perfect your elevator pitch to ensure it is clear, concise and compelling.

1. Assess your audience

Having in-depth knowledge of your target audience is invaluable. Who do you intend to attract? What do they value most? How do your services and offerings align with these interests? Taking a moment to think about these questions will help steer your pitch in the right direction. Challenge yourself to pin down the top three things you want your audience to remember about you and your business. This will help keep your pitch succinct and answer why your target audience should choose you.

Related: Positioning Your Brand with an Elevator Pitch

2. Be concise

Make sure your elevator pitch is as concise as possible. This requires thoughtful preparation on your part. A summary statement with a few supporting details is a clear way to construct your pitch. In today's world, messages need to be digestible in seconds. Utilize your brokerage's mission statement and business philosophy as a blueprint for your pitch. Knowing what you stand for and why your audience would want to join you and your team will help invigorate your presentation and provide tangible takeaways.

3. Perfect your value proposition

What are the unique attributes and selling points of your business? Is it marketing? Tech? Collaboration across markets? Understanding the value you bring will help you narrow down the key points you want to get across. Keep your consumer, competition and competencies front and center as you develop your value proposition. Utilizing these areas to outline your differentiators and how you are uniquely positioned to better solve problems than your competition will get your point across clearly and efficiently. And don't forget to adapt these selling points as your business changes or grows. My elevator pitch from when we started our company to now a decade later has advanced to reflect our growth. As you audit your business, audit how you're selling it as well.

4. Look for opportunities

In order to seize opportunities to articulate your elevator pitch, you have to be hyper-aware of your surroundings and circumstances. Expressing your value doesn't just happen in a meeting, a listing presentation or in an ad; it can take place in many casual settings and can flow quite naturally. It happens when you meet a friend for a drink, host a holiday party or start chatting with someone in line at the grocery store. The world is full of moments where you can present what you do, express the value behind it and form a valuable connection with a potential customer. So be aware, be genuine and seize opportunities when they arise.

5. Be confident

One of the most important elements in nailing an elevator pitch is confidence. Believing in yourself, your business and what you offer is key — it's what attracts people to you and gets them excited about your offering. Expressing confidently the qualities that differentiate you from your competitors will ensure that your audience both sees and believes it. Your sincerity and passion will shine through in your words, body language and demeanor. So, hold yourself proudly, speak clearly and use eye contact. Let the world see your brightest, authentic self.

Related: How to Be More Confident

Developing a memorable elevator pitch comes down to these key factors. Before you even begin rehearsing in front of a mirror, you must start by carving out your unique value proposition and crafting an effective and memorable presentation. Know who your audience is and how your mission aligns with their interests. Be concise and exude confidence. These are just a few of the ways you can develop a compelling pitch. Sharing it with confidence will be sure to get the attention of your audience.

Related: Avoid These 7 Mistakes When Pitching Your Business

Mauricio Umansky

CEO and Founder of The Agency

Mauricio Umansky is the founder and CEO of The Agency, a billion-dollar brokerage that utilizes world-class technology and innovative marketing strategies. Founded in 2011, the firm fosters a culture of collaboration and has since expanded to more than 48 offices across the globe.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Side Hustle

She Grew Her Side Hustle Sales From $0 to Over $6 Million in Just 6 Months — and an 'Old-School' Mindset Helped Her Do It

Cynthia Sakai, designer and founder of the luxury personal care company evolvetogether, felt compelled to help people during the pandemic.

Business News

'Cannot Stop Crying': Hooters Employees Shocked After Dozens of Restaurants Suddenly Close Without Warning

The chain is the latest fast-casual restaurant to face difficult decisions amid inflation.

Employee Experience & Recruiting

Follow These 5 Strategies if You Want a Thriving Mentorship Program

How your mentorship program can become a powerful force for growing your team and company image.

Science & Technology

Get a Lifetime of Raspberry Pi and Arduino Lessons for $70

For businesses with development teams, this discounted bundle is a must.

Franchise

California's Fast-Food Minimum Wage Hike Is Already Impacting Franchises. Here's What a New Study Revealed.

Several chains have raised their prices — or closed locations — in response to the wage increase, which has now led to a noticeable decline in foot traffic.

Franchise

Telling Better Franchise Stories Via The Narritive Arc

Storytelling triggers the release of oxytocin, a hormone associated with empathy and trust, fostering a deeper emotional connection with the brand. Let's dive into that.