In the business community, time is money and there is no greater loss than the loss of time. People mean business and they do not have time to listen to long notes and detailed overviews until they are really interested in something. For this purpose an elevator pitch is a must have if you want to get their attention towards your product. An elevator pitch is a rapid and precise introduction of the product at hand, the business which has developed this product; the salient features of the product which will make it outshine all certain products and finally the future developments all in a very minute time of mere twenty minutes. This shows your grip on the subject matter related to your company and the product and shows the other person that how confident you are regarding your product. A sharp and well prepared elevator pitch can help you in getting major investors onboard under a time of almost half a minute.
So, it isn’t wrong to say that a detailed product description helps one in bringing out their product to the market and explaining it to the layman in the easiest of the terms without the typical industrial jargons. On the other hand a sharp yet precise elevator pitch can help you get the attention of potential buyers as well as investors in a short time and that too in an impressive manner.
Explain what an elevator pitch is and it’s important to have one. I.e. it shows clarity that you know your business well and that you can explain the concept so that anyone not familiar with your product or service and understand easily what you do, what you sell, and what so special.
In 20 seconds explain what your product is, who will buy it, and what is so special about yours.