Elevator pitch
An elevator pitch (or elevator speech) is an overview of an idea for a product, service, or project. The name reflects the fact that an elevator pitch can be delivered in the time span of an
elevator ride (for example, thirty seconds and 100-150 words).
The term is typically used in the context of an
entrepreneur pitching an idea to a
venture capitalist or angel investor to receive funding. Venture capitalists often judge the quality of an idea and team on the basis of the quality of its elevator pitch, and will ask entrepreneurs for the elevator pitches to quickly weed out bad ideas and weak teams.
It is said that many of the most important decisions made on the floor of the
United States's
House or
Senate are made "within the span of an elevator ride" as a staff aide whispers into a Congressman or Senator's ear while they head down to the floor to cast their vote
A variety of other people, including
entrepreneurs,
project managers,
salespeople,
evangelists, job seekers, and
speed daters commonly use elevator pitches to get their point across quickly.
An effective elevator pitch generally answers questions such as:
What the product is.
What it does for the buyer (e.g. the benefits).
Who you are.
