How to give an elevator pitch for your startup

How can a founder pitch their project to an investor in a few seconds? In the startup industry there is a whole concept for this: the elevator pitch. It means that a founder should always have in mind the structure of a few-second speech in case fate brings them together with an investor in the same elevator car. And they will be riding from, say, the first to the tenth floor. In those few seconds, you need to manage to reveal the essence of your project and draw the investor into it. What should the structure of such a speech look like? First, you need to address the person you are talking to. Keep in mind here that different countries have their own cultural particularities.

For example, in Turkey the word “bey” is added when addressing an adult man, and in Japan the word “san” is added. In Russia and Kazakhstan, people are addressed by their first name and patronymic. Somewhere in Europe, the word “Mr.” or “Ms.” is added. Take these nuances into account when addressing an investor from another country. And of course, it is best to address people by name. If you know the name of the person you are talking to, be sure to use it, because for any person there is nothing more pleasant than their own name. However, don't get it wrong. There is a reverse effect. If someone distorts a person's name, that person really doesn't like it.

Second, introduce yourself and say your name. After that, tell them about your startup in literally one sentence. For example: “Allow me to introduce my startup X. It is a platform for finding contractors for apartment renovations.” After that, tell them about your project's traction, that is, the history of its development, in literally one sentence. For example: “We launched just six months ago. In that time we have already gained more than a thousand users, and we are now earning $3,000 a month.” After that, briefly tell them about your plans. For example: “We have already covered all of Kazakhstan and are now about to move into Uzbekistan, Kyrgyzstan and other neighboring countries.”

This way you will show your ambitions and far-reaching plans. And at the end of the conversation, hand your business card to the person you are talking to. It is unlikely that the investor will patiently stand there writing down your phone number, so always carry a business card with you so you can quickly hand it over.