Elevators and money

April 6, 2015 by

How many of you out there could tell a potential client what you do or offer in the space of time between one floor and the next while riding an elevator? How many of you have actually even thought about this situation? Granted, there's a lot of industries that wouldn't see a lot of benefit of creating what's known as an elevator speech, but by the same token, they don't hurt to make one for yourself either.

In fact, there's a good reason for creating one even if you never plan on using it. The value is due to the actual process of creating one to start with. An elevator speech, by necessity, has to be short, sweet, and to the point. There's just no time to meander all over the place when you really only have 30 seconds or so to get your point across. Nor do you want to be winging it when it could mean the difference between getting the job/sale/contract or not.

Realistically, you want three different versions of your speech. More specifically, not different in content, but different in length.  Your basic one should be less than twenty words, and ideally, less than fifteen. That size allows you to make quick small talk and still have time to give someone a clear, concise understanding of what you offer. It should roll off the tongue smoothly. In other words, rehearse it in front of a mirror until you have every inflection and nuance mastered. Diction make a huge difference in the message you convey to the other person, so mastering these points allows you to control, at least what's within your power, the other person receives.

The other two elevator speeches are basically just expansions on this basic message, one that's around a half minute in length, and one that's forty-five seconds to a minute in length. Any longer than that and you're going to start giving the prospect enough information to say no to. If they're truly interested in what you have to offer, based off of one of your speeches, it would be more beneficial to actually arrange a meeting instead of trying to rush a sale in a situation that's not conducive to it.

So, with all that said, why did I imply it's beneficial for all business owners to create one, even if they don't ever plan on using it or needing it? For one simple reason, actually. It forces you to focus on what your core message is for your business, the main reason for its existence. You can look at it almost like a mini-mission statement. Once you can distill your business down to fifteen words or so, it can provide you a filter to hold up against new opportunities to see if they make sense. By the same token, you can hold it up against your current operations to see if there's anything you're doing right now that doesn't make sense based off of what you've just determined to be your core mission.

Not bad for fifteen to twenty words or so, is it?

So with that, tell me what you think in the comment section down below. Do you think coming up with an elevator speech can help your business, or do you think it'd be a waste of time?

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