You have been working on your own plan for your business over these past several weeks and now have the opportunity to present your elevator pitch to the rest of the class. Your professor is your potential investor that you are trying to attract and retain for start up capital.
In 150-200 words (30-45 seconds), simply state the problem you are solving and the value that your company will bring to solve that problem. Your pitch must be easy to understand with no jargon. Leave no major uncertainties in the investor’s mind, and above all, show how the investor can make money. All other major details of your business should be left for another conversation with the intention of the pitch to immediately schedule a formal meeting. Make sure you quickly demonstrate how the investor can make money, or at least share intelligence that will entice the investor to ask for more info.
Watch this video below as it will help you develop your pitch. Remember, sophisticated investors DO NOT want marketing lingo, trendy or salesy statements or unrealistic financial claims. They want real, seemingly substantiated and verifiable facts. They want to know that your concept is, or will be making profits, and has a huge problem it is solving in the marketplace, with little-to-no competition, and has a major opportunity to reach a mass customer base, or a smaller niche market, but with massive upside profit potential.
In addition, do some research online and and explain in a (150-200 words) elevator pitches are important to have for entrepreneurs. Feel free to provide an example of a strong or poorly written elevator pitch, and use use credible sources to support your claims. Offer any recommendation for improvement to the pitch, if applicable.
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