How to sell your business idea in 60 seconds?
Picture this, you are on your way to work but find yourself stuck in an elevator with a venture capitalist who has the funds and knowledge to help you turn your business idea into a reality. You have one chance to pitch them your business, it’s now or never.
If this whole idea makes you squirm, try not to panic. The first step to a confident elevator pitch is nailing your mindset – which according to life coach Jaemin Frazer, starts with giving yourself permission to be successful.
“Struggling with your pitch is often not a pitching problem, it’s a permission problem. Why deliver a short sharp effective pitch if you haven’t given yourself full permission to succeed?
So, if you are still playing it safe and small and have not given yourself permission to show up at your best where it matters most, then you’ll need to work on your insecurity first,” says Jaemin.
“If you have already solved the permission problem, you don’t need to recreate the wheel when solving the pitching problem. I love Dent Global’s pitching model the best. Name, Same, Fame.”
Name: Who are you?
Same: What do you do? What industry, profession do you belong to? Be as clear as possible, now is not the time to get lost in the intricacies of your business model!
Fame: What are you known for? What great results do you deliver that sets you apart?
Communication expert Megan Hills told Flying Solo, that a “classy” elevator requires 4 main considerations:
Choose an emotive word relating to your business, such as ‘sanctuary’
Identify the products or services your business offers, and its location if that’s relevant. In this case ‘Natural health’ and ‘Springfield’
Write down what makes your business special. In our clinic’s example, it might be that the services it offers are truly holistic, combining massage and acupuncture with exercise, nutrition and lifestyle advice
Describe the key benefits your clients gain from doing business with you. For example “We deliver both short and long-term results. Clients leave our clinic feeling that everything is better”
The unexpected bonus of walking yourself through this process is greater clarity. By identifying exactly what it is that you do and why you do it can only help you improve your processes and services because you’ll feel more confident. And regardless of the type of business you run, there’s nothing more appealing than that.
If you have either a new business idea or an idea to grow an existing business, use your newfound business confidence and apply for St.George Kick Start program.
The top 12 ﬁnalists pitch will be in for the chance to pitch their ideas in 60 seconds to a a panel of judges TEDxSydney 2020. Each category winner will receive $40,000 and the runner-up $10,000 giving you a one in three chance of walking away with a prize.