How well do you really know your business? Hi I’m Kristin Polito. I’ve worked with a number of entrepreneurs over the years who know both their industry and businesses inside and out. However, they’re not always good at articulating in a concise matter what their businesses do.
What makes your business great
Today we’re going to explore how to effectively communicate the value proposition of your business. Some entrepreneurs focus on the day-to-day problems that their businesses face, others basically focus on other minutiae such as their pro forma financial statements, how they’re going to meet their sales quotas and deadlines, or how much overhead that they’re incurring versus last year’s overhead expenses. This becomes tedious and exhausting for the audience to absorb. The elevator pitch should describe the nature of your business, and leave your audience with a sense of optimism when you complete your pitch.
Creating the perfect elevator pitch
As you craft your elevator pitch, you’ll want to include the following. Number one: your name, your role, and the name of your business. Secondly, a brief description about your business. Third, what is your value proposition, or in other words, what does your business offer where customers can benefit from your products or services. Fourth, how has your business succeeded in the past. Fifth, how do you establish a call action, or basically what it is you want from your audience, and finally, how do you and your audience mutually benefit from your call to action.
Think of these points as various floors in an office building. As you mentally enter each floor, you’re building both momentum and interest in your business from your targeted audience. In turn, the audience may make a mental leap to step out onto a particular floor. When they enter that floor, they will be asking questions about the point you’ve just made. This in turn establishes a valuable dialogue between you and your audience.