What Is an Elevator Pitch Really? Understanding the Concept

THE LEAN LESSON

When you hear “elevator pitch,” what comes to mind?

Most people think of a brief spiel to investors, but did you know that the origin of the term comes from old-school journalism? And understanding its roots can help you craft a pitch that works every time.

The term “elevator pitch” was born in the world of journalism. Writers would have mere seconds during an elevator ride with editors to pitch a story.

They had to do it quickly and persuasively to get the editor's attention.

In the startup world, this concept has evolved into a quick, impactful introduction.

Whether you're at a networking event, meeting a potential client, or simply chatting with a VC, your elevator pitch is your chance to grab attention in a short time.

It's an introduction that leaves people curious and ready to hear more, not a full-on sales pitch.

Example: You’re at a wedding, and a VC asks, “What’s your business about?” Instead of launching into a lengthy explanation, you could say:

• “I’m the founder of a tech startup focused on helping small businesses automate their payroll, saving them time and money.”

• “I run a biotech company working on eco-friendly alternatives to plastic.”

These answers are concise, yet intriguing enough that the VC will likely ask, “Tell me more about that!”

Action Points:

• Think of your elevator pitch as an introduction, not a sales pitch.

• Focus on one core aspect that can spark curiosity.

• Practice your pitch until you can deliver it smoothly and confidently in any situation.

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