7 Elevator Pitch Tips

July 23rd, 2010

What in the heck is going on with elevator pitches these days?! It seems like anyone who’s been “taught” how to give an elevator pitch (i.e. humiliated into submission) is either
1. Terrified to give their elevator pitch — exhibited by a shaky voice and stuttering, or
2. So distraught by what people have said to them that they feel they have to correct everyone else.

So, in my attempt to return some dignity to all of those who have been harassed about their elevator pitch, I am going to present my top priorities when working on a pitch. What will happen if you forget one of these items when you’re introducing yourself? Nothing. Can you still gain that person as a client? Yes. Which is worse, leaving out a line of your pitch or sounding unsure of yourself? Sounding unsure. I advise you to get comfortable with a good elevator pitch and then work on making it great. When you start off saying something too scripted, you’ll get lost.

Moriah’s 7 tips for a giving a good elevator pitch:
1. Go second so that you can cater your pitch to the person you’re speaking with. Keep in mind that even if they’re not an obvious person to network with that they may know someone who is, and if they like what you have to say that they could introduce you to them.

2. Start with your name and the company your with. Sometimes, the company you’re with is complicated. If that’s the case, put what you do or the type of company it is into a short phrase. For example, sometimes, when I talk to people, it would complicate things to say I work at The FENDER Music Foundation, so I just say I “run a nonprofit that supports music education,” and if even that is too complicated, I say I “run a nonprofit.”

3. Give a few sentences about your business as it pertains to this person. What do they need to know about you from their perspective? What can you do for them? For example, I would say something different to a potential donor, a potential business partner as well as a potential grant recipient.

4. The elevator pitch should be conversational and short. It should use your language. Keep in mind that what you would write in a brochure about your company is very different than how you should say it. What you say is often more casual than what you write.

5. Don’t give your business card to someone unless they ask for it, and feel free to ask for cards from people unless there is no way you would ever do business with them. Everyone else could be a good contact even if you don’t know yet how you’ll use him or her. And, sometimes I even ask for a card so I can make note that they are not someone I would work with.

6. Don’t end the conversation at your elevator pitch. Use this as an opportunity to get to know someone. Get a good idea of who they are and what they do before you go your separate ways.

7. Just because you know how to give an elevator pitch doesn’t mean you should harass those who are less successful. Give them a break! Anything you say will only traumatize them more and make it worse!

Moriah’s tip for a great elevator pitch:
1. There are a billion books that include at least one chapter on elevator pitches. Read a few of them and use the advice you feel comfortable with. It won’t work for you if you are going to feel uneasy doing or saying it. And, don’t trust the interpretations of people who have already read these books; read them on your own.

Lately, it seems like the less successful companies right now are in one (or two) of two boats:
1.    They have a weak product.
2.    They have done a poor job at marketing their product.

A profitable business requires a strong foundation.

A profitable business requires a strong foundation.

Product:
I define a weak product as one that does not fulfill a need or want of enough people to make the company sustainable.  As follows are the questions I use to measure the companies’ products with which I work (in 2nd person for your convenience):

  • How many people REALLY will use your product?
  • How many people will spend the time/money to use your company to purchase your product or use your service?
  • Do people need your product? (Review Maslow’s Hierarchy of Needs)
  • If they do, do they know that they need it or will you need to sell them on the fact?
  • If not, why do you think they will use it?
  • Do they want it enough that they will pay for it or spend enough time on the site to make it worthwhile to your advertisers?
  • What are the advantages of using your competitors? Do those advantages outweigh your advantages?
  • Is something about your website turning people away?
  • Is there a reason for people to use your company more than once or will you have to continually replace your customers?
  • How much money will people REALLY spend for your product or service?

or

  • How much money will advertisers spend to reach this customer base?

or

  • Do you have another knock-your-socks-off revenue stream?

The strongest products are easy sell and go viral. They don’t require much  advertising (if any at all). Not only because of the economy but also because we can easily shop around for products on the internet, we are much more careful to spend money. And, with the current media overload, our attention is pulled in many different directions, so it’s hard to get our attention for long. Sure, companies sell weak products all the time, but it’s a struggle you don’t have to go through. If you start with a strong product and improve it over time, success will come much more easily. And, once you have a strong product, you can move your focus to marketing.

Marketing: If you have a strong product, marketing is the easy part:

  • Honestly represent your product
  • Determine your most accurate target demographic
  • Engage your target demographic where they will feel most positively about your product.

So, there it is – a strong product and how to market it well – it’s definitely a good place to start when you’re writing your business plan. There are so many things to worry about when you have your own business. You don’t want to have to reinvent your product while you’re dealing with accounting and HR and permits. And, you aren’t going to get the revenue you need if you don’t know how to market your product.

Facebook Etiquette

April 6th, 2010

Photo by Michael Grunow

Wall Posts
When asking questions, for which you are expecting a response, write a message. Do not ask the question on the person’s wall.

Comments
Use comments to participate in a conversation about a particular wall post. Do not talk about anything else, for two reasons: First, the person who made the initial post did not intend for it to initiate other topics of conversation, and they may find it difficult to politely redirect the conversation back to the original topic. Second, all of the other people who are participating in this particular conversation about this particular comment will receive a notice about your comment, something they may not be interested in.

If you like a post, click the like button, and if you have something constructive to say about it, leave a comment. Otherwise, the person posting will feel like they are talking to him or herself.

Application Requests
Only send application requests (Mafia Wars, FarmVille, etc.) to all of your friends once. Beyond that, only send the requests to people who actually participate in the application. (Most applications indicate which of your friends use the application.)

Group and Page Invitations
When you are inviting people to your group or page, consider that there is a difference between people who support the topic and people who want to get involved in the topic. Some people will feel obligated to join your group or be a fan of your page just because they like you and/or they support what you are doing. Do not, then, annoy those people with incessant messages that they have to delete from their inbox. If you would like to engage both groups, it may require you to create two different groups, for the different levels of involvement.

Messages to Fans
If you control a fan page, do not bombard your fans with messages. Only use messages to communicate very important information. All other information should be communicated in wall posts.

Friend Requests
Only ask people you know personally to be your friend. If you are receiving too many friend requests from people you don’t know, it might be time to create a fan page. And, if this is the reason you are creating a fan page, nobody will think your creating one is arrogant.

Do not take it personally when people don’t accept your friend request. Some people only use Facebook for their close friends and family. There is nothing wrong with this decision.

Photos
If you post an unflattering photo of your friend on Facebook, do not tag them.

General
All offline ettiquette still applies. If you shouldn’t do it in the real world, don’t do it on Facebook either.

The Secret

December 28th, 2009

When my friend asked me to watch The Secret a few years ago, she told me that I probably already knew the secret – that successful people know how to get what they wanted from the universe. She acted like it was a magical process that took skill, but in all honesty, there is no magic to success.
[youtube=http://www.youtube.com/watch?v=san61qTwWsU&hl=en_US&fs=1&]
 Despite what Rhonda Byrne and her slew of “scientists” may tell you,

  1. The process to achieve success is not done with thought; it is done through action.
  2. Money is a means to an end – not the end. Money is just one of the many tools you may need to accomplish your real goals.
  3. It is not always one’s fault if they don’t get what they want. There are many outside factors that affect us, over which we have no control.
  4. We will not get everything we want even if want with all of our hearts.

My secret to success (which I guess is no longer a secret) is as follows:

  1. Learn – Learn about yourself, about how other people think, about all of the careers, companies and products that exist today and what people will need in the future.  Meet people and talk to them; learn from them.
  2. Always work toward being the best– No matter what you do, try to be the best at it. Find something that fits you and inspires you and dive in. It’s okay for you to change careers or industries, but work toward being the best as soon as you make the switch.
  3. Learn – Being the best never lasts for long, so always learn how to improve yourself and/or your business, and make those changes quickly.

It’s a big scary world out there with chaos and cruelty. It’s easy sometimes to fall into these things that make you think you have control over it, but you don’t need that, do you? Just make the best decisions you can, working not only toward your own success but toward a greater good.

4-way testI recently invited Rod Skidmore, VP of US Bank and member of the Rotary Club of Simi Sunrise, to speak at one of my Rotaract meetings on the topic of effective professional communication. Not only was he a dynamic and passionate speaker, his advice showcases what it truly means to be a Rotarian. As follows is my summary of his presentation:

  • Tell the truth. Be an honest person. Don’t lie, even when you are told to.
  • Look things up when you aren’t sure. Be resourceful.
  • Share your happiness with others. Smile when you speak on the phone.
  • Ask questions and be generally inquisitive. Don’t think you know everything.
  • Admit your mistakes and be humble.
  • Consider where other people are coming from. Don’t make assumptions.
  • Listen to others, both their verbal and non-verbal communication.
  • Admit when you don’t know the answer and be open to feedback.
  • Be genuinely appreciative of anyone and everyone who does something for you. Don’t make people regret being nice to you.
  • Move things forward. Ask for the sale/next meeting/etc. Be interested in and focused on the task at hand.
  • Do the right thing.
  • Be someone people like and check to make sure it’s working.
  • It’s not about you. It’s about everyone else around you.

The points Rod made aren’t about just being an effective communicator in business or life. This is about who to BE, and the internal conversations you have with yourself. Once you ARE the person who is honest, grateful and has compassion, others will respond well to you.

As follows is a chronological list of the things that have had the greatest influence on me and my way of thinking, (and to keep it from getting bogged down, I am not listing people or experiences I have had):

Everything I have listed required someone to share their passion with the public, and how lucky I am that they did. These make up the network of stepping stones that led me to where I am today. May we all find our element/passion in life and share it with others so that they might take our messages and craft them into the ideas of tomorrow, giving all of us and our children a future to be proud of.
[youtube=http://www.youtube.com/watch?v=yJAL21IE9fY&hl=en&fs=1&]

Who Benefits?

People who find their element and follow their passion

Everybody else (current and future)

Society (all of them)