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Speed Pitching: Your Gateway to Better Sales

Often we hear businesses falling apart and the blame falls squarely on bad sales pitches. Perhaps it is time for organizations to recognize and try different methods of sales pitching; an emerging one among them is speed pitching also known as the elevator pitch. So what exactly is speed pitching? Simply put, elevator pitch/speed pitch is a brief, well planned, and nicely practiced description about the product/service that you need to pitch about in a manner simple enough that anyone would be able to get it in the time it takes to ride up an elevator. Entrepreneurs use it often to pitch ideas to venture capitalists or angel investors. Venture capitalists often decide on the feasibility of the pitched idea by the quality of the elevator pitch and sometimes even weed out bad ideas or weak teams, just on the basis of elevator pitches.

Points to remember before Speed Pitching

Before you start the process of speed pitching or elevator pitch you need to focus on the following few elements:

  • Your product/service: Is it something which has a wide interest ?
  • The market for the product/service you want to sell in: Is it big enough for your product/service ?
  • Your revenue model: Can your revenue model support your service/product idea ?
  • Your competitors: Do you know your competition ?
  • Your service/product’s advantage: Does your product/service have an advantage over the competitors ?

Quick tips to make that compelling elevator or speed pitch

  • Speed sales pitch must be short and succinct in its messaging.
  • It should ideally not extend beyond a minute or so.
  • Remember that it is not rocket science therefore simplicity is the key, as is confidence in your pitch.
  • Speak from your heart; it is your product and you know it best

Conclusion:

Today time is of immense importance and speed sales pitch or the elevator pitch is the product of today’s times. Sales teams cannot afford not knowing how to effectively deliver an elevator pitch, an ineffective elevator pitch costs a sale, a deal. So get started on creating that perfect elevator pitch. Happy speed pitching…and here’s to more sales !

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