The elevator pitch is one of the most powerful tools, which entrepreneurs use on their way to achieving their business goals. Whether they are looking for the right investor or presenting their businesses to potential partners, clients or associates, the elevator pitch is the ideal way to present an overview of your company and highlight its strengths.

The main purpose of your elevator pitch should be focused on getting the attention of the investors to a point where they would like to learn more about your business. It should be interesting and informative enough to make them ask the next question.

Opportunities often emerge in unexpected times, which is why the entrepreneurs must be always ready to present their businesses in a concise and engaging way. Preferably, when verbally delivered, the elevator pitch is no longer than 60 seconds. When written, it shouldn’t be longer than one page.

This raises the question: What are the main components of the perfect elevator pitch? How can you send the right message and make the right impression in such a succinct way?

The problem and the solution

To prove that you have viable business, you should show the investors that you have potential customers, who will benefit from using your product/service. In order to be valuable to your clients, your business should be able to give a solution to a specific problem. By highlighting a real problem and emphasizing on the way you are going to provide a solution for this problem, you are proving that your business is needed and will make a difference in the market, therefore, will be profitable.

The market share and the competition

To make sure that the potential of the business is presented in the most appealing way, include in your pitch information about the potential of the market. Here is important to point out the market share and how you are going to obtain it. Note the existing competition and underline the differences and advantages that your strategy has compared to theirs. By mentioning the competition, you prove that you’ve done your research, that you have realistic view over the situation and a plan to outrun everyone that stands on your way.

The team

Undoubtedly, the entrepreneurs are the face of the company. Many investors tend to make their investment decisions based on the impression that the founders have made. Even if they are not fascinated by the idea behind the business, many investors choose to support the venture just because they believe in the potential of the entrepreneur and the team. Having strong team of people, who have the right expertise, experience and talent and complement each others’ skills, is one of the great advantages starting businesses have. The investors need to know that the team is strong and capable of executing the idea, so give them this information.

The unique element

Investors hear dozens of pitches on weekly basis. Not to mention the amount of pitches they hear at networking events and conferences. There are many entrepreneurs, eager to present their businesses with the hope to win investment for their companies and to get the support of the investors. It is important to stand out from the crowd by including a wow element in your pitch. Just make sure that you are being honest and that the unique element that you include in your pitch corresponds to the reality.

The power of emotional appeal

“I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” Maya Angelou

Tapping into emotions is very powerful way to become more memorable in every conversation that you have. It successfully works in business conversations and even negotiations as well. Entrepreneurs, who use an emotional appeal in their elevator pitches, are very likely to achieve better results. Once you have noted the problem that you are solving, you are able to discover the emotions that the solution of this problem will awaken. With the elevator pitch, you have just couple of seconds to get the attention of your interlocutor and you should make the most of it. Engage their emotions and you will increase your chances of your pitch to be remembered.