Easy 90-second Elevator Pitch
The Need: (15 seconds)
- Start with a vivid description of a problem that is affecting your potential customer. How is this problem affecting them? How do you know it matters to them?
- What is the cost of this problem to the customer? Are they currently spending money on a solution? How is this problem causing pain for them?
Your solution: (30 seconds)
- Describe the features of your solution to this problem. (You should include how much your product or service will cost).
- How will your solution benefit your customers?
- How is your solution different from existing solutions available to the customer?
The Customer: (15 seconds)
- Who is your customer? Describe the person who will most value your idea.
- How many of those customers exist?
- How many would likely buy from you instead of choosing existing options?
Tell a story about a real person: (20 seconds)
- “Let me tell you about Margaret (or Bob, or Dave, or Sally…). Describe the problem this particular person is experiencing. How does it affect them?
- “Now, imagine Margaret had (your product or service). Here is how her/his/their life would be different.
- “For only $______, we can provide this solution to Margaret and others like her.
Conclusion: (10 seconds)
- I/we believe that people like “Margaret” deserve (restate your customer benefit).
- Finish with your, “ask”: I/we are here seeking input and advice on how to develop this idea. What thoughts and suggestions do you have?
Easy Value Proposition Statement
What value isn’t: Value IS NOT a list of features the customer will get with their purchase. Value IS NOT the thing they are getting, IT IS the benefits the customer gets out of using the product or service that are worth MORE to them than the money they will pay.
What value IS: When someone buys a pair of jeans, the value is not the quality of the denim, the type of stitch, and the additional pockets, etc. Value comes from the way a person feels and looks when wearing the jeans, along with the convenience of how the jeans meet their needs for carrying basic stuff (e.g., phone, credit card, money, etc). or when someone joins a gym, value may come from convenience of the location (how easy it is to get there), how comfortable it is to exercise there, the ease of getting assistance with workouts, the ability to meet new people, etc.
In other words, value is the benefit the customer experiences from using the product or service that makes it worth the money they spent. I would rather have (jeans, gym membership, fill-in-the-blank) than the number of dollars that it will cost me.
Writing Your Value Proposition Statement:
- Problem: Write a one-sentence description of the problem your customer has?
- Solution: Write a one-sentence description of your solution.
- Benefit: Write a one-sentence description of the benefit your customer will receive from your solution.
- A record number of children are either overweight or obese by the age of twelve.
- We have created a tasty, healthy, sugar free snack that parents can feel good about sending to school with their kids.
- By making our snack tasty, affordable, and convenient, we offer an easy solution for parents who want a healthy snack alternative that satisfies their children’s taste buds.