Elevator Pitch: 17 Essential Elements to Include with Tips and Versions You Need

A 15-minute Elevator Pitch guide with a checklist of must-have elements.

September 07, 2024 Siert Bruins

An Elevator Pitch is a short presentation where you showcase yourself and present your plans, vision, and ambition. Here, we provide an example of an elevator pitch that could attract a potential investor for a follow-up meeting. If you are seeking business financing for your startup, the elevator pitch essentially becomes the presentation of your business case and business model. In this presentation, you introduce yourself and your idea, and support your case with data. You conclude with the business proposal to the investor. However, an elevator pitch can take many different forms. For instance, there are pitches for job interviews or even for dating, but there are other sites for those. An elevator pitch is always a personal story tailored to a specific application, so it's different each time. The example below outlines the key items you should definitely include in your pitch.

Always Be Prepared for an Elevator Pitch

Make sure you have different versions of your presentation ready and that you can clearly explain to someone, anywhere and at any time, why investing in your plans is a golden opportunity. Practice until it goes flawlessly. After all, why would someone give you a million euros if you can't even explain what you're going to do with it? Be prepared for every situation.

Different Versions of the Elevator Pitch

For those who don't know: the term "Elevator Pitch" originates from a presentation you give in an elevator to a potential investor you happen to run into. This presentation lasts from the ground floor to, say, the 23rd floor. In this discussion, we assume you have the opportunity to present your plans in a room or a hall. It is smart and professional to create several versions. First, of course, a PowerPoint or Keynote presentation that you can present on your laptop at the investor's location (possibly with a prsenentation screen). Make a 2 to 3-minute version (the famous elevator pitch) and a longer version (15 to 20 minutes). Often, the audience will ask if they can have a copy of the presentation. Of course, you can do that, but email a PDF version. It's also helpful to send a print-friendly version. This version has a white background, so it doesn't take hours to print and saves the ink cartridge of the interested party. Also, make sure your laptop is in sleep mode with the presentation ready so you can start quickly without fumbling around before you can begin your story.

In addition, you should have your plans written out as well. Create a short version (a so-called one-pager) and a longer version of no more than 10 pages (information memorandum). Use language that everyone can understand, and make sure your presentation looks professional, business-like, and not too flashy.

Elevator Pitch: Example of Important Items

Your elevator pitch should give a clear and concise picture of your ideas and what you want to achieve. Make sure you can substantiate the facts and figures (especially the financial data) and explain your assumptions. Nothing is more deadly than giving a good presentation only to have it fall apart after a few questions because it is poorly substantiated. Business financing begins with trust. The goal is for you to instill confidence in the investors that their money will be well-handled if they invest in your plans. We present an overview of the different type of investors, and what they are typically looking for, on a different page.

What you want to achieve is that, by the end of the pitch, the audience clearly understands who you are, what you want, why you want it, and why it's a good idea for them to get involved with you. Providing a concrete example of an elevator pitch is challenging because every pitch is unique and specific, depending on the product or service, the market, etc. An elevator pitch should be short and powerful, conveying the company's, product's, or service's core message clearly and persuasively. It is, however, possible to outline what should definitely be included. It depends a bit on your project or company, but the things you should consider including in your presentation are:

• Start by briefly introducing yourself: who you are, where you're from, and which company you represent.
• Then explain your idea, product, or service. Do this in a way that captures the audience's attention and makes them interested in learning more. You don't need to make it a show (you're not Hans Klok), but it's helpful to have a catchy opening.
• Define the problem: Explain what problem your idea or product solves. Clearly explain what the problem is, how it manifests, and why it's important to solve it.
• Present your solution: Now that you've explained the problem, it's time to present your solution. Explain how your idea or product can solve the problem and how it stands out from other solutions.
• Explain how your idea can be profitable: Investors want to know how they can make money by investing in your idea or product. Therefore, explain how you plan to make money. What is your business model?
• Who is your target audience, and who will be your customers?
• What is the cost price of the product or the cost of the service?
• What is the selling price of the product or service?
• Who are your competitors, and why will you beat them?
• What is the composition of your team, and why is this the best team for the job? A strong team can be crucial for a company's success. Explain who is on the team and what their experience and expertise are.
• How much will you sell in the first year?
• When will your company be profitable?
• How fast will you grow?
• What is your exit strategy (when and how will you part ways)?
• How much money do you need in total?
• How will you repay the money (for example, in one lump sum or in installments)?
• Provide a convincing closing: End your pitch with a strong conclusion that encourages the listener to invest in your idea or product. Clearly state the next steps and how they can contact you if they're interested.

This example is, of course, not exhaustive. It's always a matter of tweaking until you have the right information in the right order for your situation. At this stage, avoid too much detailed substantiation of technology, market analyses, or forecasts. That will come later when they are interested. However, you should have this information at your fingertips, for example, in a few extra slides attached to your presentation. You can then quickly click through to answer questions.

Speak calmly, make eye contact with the audience, and don't overload your presentation with too much information in too many slides. Less is more!

The Ultra-Short Pitch

Imagine you only have a few seconds to tell someone in a few sentences what you want. That is often much more challenging than talking for half an hour. What will you say, and what will you leave out? In that case, you can use the following format:

• Our product is for... (who is the target audience)
• Who... (describe the problem of the target audience)
• Our product is a... (what type of product is it)
• Our product delivers or ensures that...
• And it's different from... (what is the alternative)
• Because our product... (key competitive features)