The Million Dollar Elevator Pitch

Has a VIP ever asked you, “So, what do you do?”  Has someone with the potential to make a million dollar investment in your company given you the opportunity to pitch your business and you froze?  It is a scenario that you might dream of constantly, or maybe you have never considered the possibility until today.  Either way, you must take time today to develop your pitch.  The following is an outline to help you structure your pitch for potential investors.

1. Grab – Venture capitalists and angel investors are pitched every day.  Your grab must be unique and compelling enough to capture their attention and imagination.
2. Problem – As with any pitch your audience needs to feel the problem, feel the pain.
3. Unique Solution – Investors look to invest in businesses that can be protected.  If you solution can easily be copied, that is a risk many investors are unwilling to take, so explain what makes your company special.
4. Traction – Traction trumps all else when it comes to investors.  You will have VCs jumping in line to invest in businesses with great traction.  Take Groupon for example, investors poured 100s of millions of dollars into the company despite the fact that there are literally 100’s of copycat companies.
5. Stage – What stage are you at?  Do you need funding?  How much?  Or have you already received investment?
6. Next Step – Ask for a business card, or ask for a chance to meet with the investor individually.

Simply writing a practicing your pitch in the mirror a few times isn’t enough.  In order to master your pitch you should take every opportunity to share the story of your company.

Adam Hoeksema is the Founder of ExecutivePlan.  ExecutivePlan helps entrepreneurs write more powerful business plan executive summaries in order to raise capital.  Adam is also the author of Elevator Pitch Toolkit: Templates, Examples, and Tips for the Perfect Pitch