What ingredients for success would you give in an elevator pitch?
I would say one of the most important ones is explaining your why. Clearly state why you’re launching this business. Clearly communicate the problem that you’re trying to solve. That’s definitely number one. I also love to have some type of a personal story or anecdote that you can add to the beginning that explains [your] why. Second thing is knowing your financials. You should be able to talk about your customer acquisition costs, revenue, your burn rate, and things of that nature. Those you should know like the back of your hand. The third one is a clear ask, making sure that you’re wrapping things up by communicating what you want from whoever’s listening. Whether it be an investor, pitch competition, or panel of judges, let them know what you are asking for and the kind of impact that it will have on your business. Will you be able to hire more people? And if so, how does that affect your bottom line?
