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The first step to a successful business person

Sep 25 2007

The first step to a successful business person

Written by Shivaji Sengupta

Wednesday, 26 September 2007

You never know which simple conversation may lead to that big deal, and I say that from experience.

The first step to being a successful business person is to develop a powerful elevator pitch. An elevator pitch is a brief statement about who you are, what your business is, and why it is special. The idea is this: If you were in an elevator with a potential business investor and you had only 30 seconds or an elevator ride to make a memorable impression, what is it that you could say to make an impact?

We are all asked, from time to time, what exactly it is that we do. Sometimes it's at a cocktail party or a business meeting. Having a sharp, intriguing statement ready makes the difference between being remembered and being forgotten. You never know which simple conversation may lead to that big deal, and I say that from experience.

So I think it is a good exercise for anyone in business to create their own elevator pitch. Here's the 5 step formula to create yours:

1. List out what is unique about what you do and why are you special: The whole idea behind a great elevator pitch is to intrigue someone. It's an ice-breaker and a marketing pitch - all rolled into one.

Your elevator pitch must have a hook. "I own a flower shop downtown" doesn't hold up to a "I'm a specialty florist who deals in rare, South American tropical flowers that bloom in the winter."

2. Make it intriguing: A superior elevator pitch increases your heart rate. It speaks about who you really are and what excites you about your business. It has integrity. What is it about your business that really motivates you?

3. KISS Concept - Keep it Simple Stupid: A good elevator pitch doesn't try and be all things to all people. Rather, it conveys a clear idea in a short amount of time. It might be a few sentences, but no more than a paragraph or so. Keep it under 30 seconds.

4. Who your customer is: Be specific enough that people see the market, but not so specific that people wonder if there are more than five of these people in the world: "we even have flowers for boardroom romances"

5. Write it down and Practice a lot!: Use the guidelines above and take a stab at it. Write down your pitch, say it out loud, write it, and then re-write it again. The first few times you try it out, your elevator pitch may be a bit uncomfortable. After a while it will become second nature to you.

You never know what will come from having a great, natural, elevator pitch, but you can bet that you've just increased your chances of landing a deal.

Shivaji Sengupta is a Content Technology and Strategic Management Specialist. He is with Lason Inc. as their Vice President - Business Solutions, heading their customer facing teams in Technology, Onboarding and Consulting.

Issue BG78 Sept07