Here’s How to Write an Elevator Pitch for VC Funding

If you’re a creative entrepreneur interested in taking her startup to the next level, you’ll need a carefully crafted elevator pitch. Distinct from a value proposition statement or executive summary, an elevator pitch is kind of like your business’ highlight reel. As the name suggests, this pitch is delivered in the time it takes to ride an actual elevator (between thirty seconds and a couple of minutes). Concise and compelling, an elevator pitch is your chance to spark interest and secure that all-important follow-up meeting with potential investors. Not sure how to write an elevator pitch? Don’t worry! We’ll answer all of your frequently asked questions and provide hypotheticals to help you craft a pitch that converts. Just remember! Like this episode of This American Life posits, “It’s not the product; it’s the person.” Here’s how to pitch yourself—and your business—in under three minutes. Need more guidance? Check out that TAL episode here.

Answering All Your FAQs About Elevator Pitches

What is an elevator pitch?

An elevator pitch is a brief, persuasive speech that summarizes what you or your company does. Most are intended to spark interest and explain your idea in a short amount of time—typically within 30 seconds to 2 minutes (the time it takes to complete a brief elevator ride). Why is it called an elevator pitch?

The term “elevator pitch” or “elevator speech” comes from the idea that you should be able to deliver your pitch in the time span of a short elevator ride, which usually lasts around 30 seconds to 2 minutes.

What are the key components of effective elevator pitches?

The perfect elevator pitch will include a hook to capture attention, a clear description of what you or your company does, the market problem you address, your solution to that problem, your business model, traction or significant achievements, your long-term vision, and a specific call to action (CTA).

How long should a good elevator pitch be?

An elevator pitch should typically be between 30 seconds to 2 minutes long—concise enough to deliver within that timeframe but detailed enough to effectively convey your message to potential investors who have no idea who you are or what you do.

What’s the difference between an elevator pitch, value proposition statement, and executive summary?

An elevator pitch, a value proposition statement, and an executive summary each serve distinct purposes in business communication. Not to be confused with a sales pitch, an elevator pitch is a concise, engaging speech designed to spark interest in a short amount of time. It’s used to quickly convey the essence of an idea or business to potential investors, partners, or customers.

In contrast, a value proposition statement is a clear, concise declaration of the unique benefits and value that a product or service offers to its customers. The value prop describes in detail what sets your business apart from competitors. An executive summary is a comprehensive overview of a business plan or report. It provides a high-level summary of key points like the business concept, market analysis, strategy, financials, and goals.

While an elevator pitch is designed to capture immediate attention and interest, a value proposition statement focuses on the specific benefits to the customer, and an executive summary provides a detailed snapshot for stakeholders who need to understand the broader context and strategic direction of the business.

Who needs an elevator pitch?

Anyone who needs to quickly and effectively communicate their ideas—think: entrepreneurs, job seekers, salespeople, and professionals at networking events—can benefit from preparing a well-crafted elevator pitch.

How do I tailor my elevator pitch to different audiences?

To tailor your elevator pitch, know your audience and understand what they care about, adjust your language to use terminology and examples that resonate with them, and highlight the benefits most relevant to their interests and needs.

What makes a good hook for an elevator pitch?

A good hook is engaging, memorable, and relevant to your audience. It could be a surprising statistic, a thought-provoking question, or a bold statement related to your business or idea.

How can I make my elevator pitch more memorable?

Make your elevator pitch more memorable by being clear and concise, telling a relatable story or personal anecdote, showing passion and commitment, and using visuals like business cards or brochures if possible.

What kind of materials should I have on hand during an elevator pitch?

You might want to have impactful visual materials on hand to support your elevator pitch. These materials include a business card with your contact information and company details, brochures or one-pagers that summarize your business or idea, and any relevant visuals or prototypes if applicable. A well-prepared pitch deck on a tablet or a printed copy can also be useful for more extended discussions following the initial pitch.

Having a digital version of your pitch or relevant documents on your smartphone or available via email makes sure that you’re ready to share information promptly and professionally. These materials help reinforce your message and provide the listener with tangible takeaways to remember you by.

How often should I update my elevator pitch?

Regularly review and update your elevator pitch to reflect any changes in your business, achievements, or market conditions. You want your pitch to remain relevant!

How can I practice my elevator pitch?

Practice your elevator pitch by rehearsing it out loud, in front of a mirror, or with friends and colleagues. Record yourself to review your delivery and seek constructive feedback from others to refine your pitch.

What common mistakes should I avoid in an elevator pitch?

Avoid common mistakes in an elevator pitch by providing clear and specific information, not overloading with too much information, showing enthusiasm and belief in your idea, tailoring the pitch to your audience’s needs, and always ending with a clear call to action.

Where would I actually deliver an elevator pitch?

You can use an elevator pitch in a variety of informal and formal settings where you have a brief opportunity to present your idea or business. For example, you might deliver your elevator pitch at a networking event, industry conferences, career fairs, and trade shows. Basically, a great elevator pitch can come in handy anywhere you might encounter career and business connections—think: potential investors, partners, or clients.

It can also be useful in more spontaneous situations—think: chance meetings at social gatherings, during travel, or even in actual elevators. Elevator pitches are valuable during a job interview, sales meetings, and when meeting new contacts in professional settings. Essentially, an elevator pitch is ideal for any scenario where you need to quickly and effectively convey the essence of your idea, business, or project to spark interest and initiate further conversation.

Here’s How to Write an Elevator Pitch that Converts Investors

Step 1: Define Your Objective

Your primary objective in delivering an elevator pitch to a venture capitalist (VC) is to secure a follow-up meeting where you can delve deeper into the details of your business and explore potential investment opportunities. This initial pitch is not about closing the deal but about sparking enough interest and excitement to warrant further discussion. Clearly identifying this objective will help you focus your pitch and tailor your message to emphasize aspects that are most likely to resonate with the VC. Remember, VCs hear many pitches, so your goal is to stand out and make them want to learn more about your business.

When defining your objective, think about what you want the VC to do after hearing your pitch. This could be scheduling a more detailed meeting, requesting a demo of your product, or asking for more information about your financials and business plan. Being clear about your goal helps you structure your pitch in a way that leads naturally to your desired outcome. It also helps you stay focused and concise.

Knowing your objective also allows you to anticipate the VC’s questions and concerns. This preparation shows that you are serious, professional, and ready for the next steps.

Step 2: Start with a Hook

The hook is your opportunity to capture the VC’s attention right from the start. An engaging hook can be a compelling statistic that highlights a significant market opportunity, a surprising insight into consumer behavior, or a bold statement about the impact of your product or service. The key is to choose something that is both relevant to your business and intriguing enough to make the VC want to hear more.

For example, you might start with a statistic like, “Did you know that the average household spends over $1,000 a year on energy bills, with 30% of that wasted due to inefficiency?” This immediately sets the stage for introducing your energy-saving product. Alternatively, you could ask a thought-provoking question like, “What if your morning coffee could help fight climate change?” This type of hook creates curiosity and opens the door for you to present your innovative solution.

A strong hook not only grabs attention but also sets the tone for the rest of your pitch. It should be directly related to the problem your business addresses and hint at the solution you provide. It should also make the transition to the next part of your pitch smooth and logical.

Step 3: Introduce Your Company

Once you’ve captured the VC’s attention with your hook, it’s time to introduce your company. Your introduction should be clear, concise, and compelling. Avoid jargon and focus on the core essence of your business.

For instance, you might say, “At Healthy Home Textiles, we produce luxurious home textiles—like bed linens, towels, and curtains—using 100% organic and recycled materials.” This sentence clearly communicates the nature of your business and the products you offer, while also hinting at your commitment to sustainability. It provides enough information to give the VC a basic understanding of your company without overwhelming them with details.

The goal is to give the VC a quick overview of your business that sets the stage for the more detailed parts of your pitch. By keeping it simple and straightforward, you ensure that the VC can easily follow along and stay engaged as you delve into the specifics of your market problem and solution.

Step 4: Identify the Market Problem

Next, you need to highlight the specific problem or gap in the market that your business addresses so you can set up the context for why your solution is needed. The problem should be something that resonates with the VC—ideally one that they also recognize as a major issue in the market.

For example, you could say, “The home textiles industry is a major contributor to environmental degradation, with massive amounts of water, chemicals, and waste involved in traditional textile production.” This statement clearly identifies a significant problem and sets the stage for presenting your solution. It also demonstrates that you have a deep understanding of the market and the challenges it faces.

By clearly articulating the problem, you help the VC understand the urgency and importance of your solution. This makes it easier for them to see the potential impact and value of your business.

Step 5: Present Your Solution

After identifying the market problem, you need to explain how your product or service solves this problem. This is your chance to demonstrate what makes your solution unique and superior to existing alternatives. Focus on the specific benefits and features of your product that address the problem effectively.

For instance, you might say, “Healthy Home Textiles utilizes innovative eco-friendly production processes that drastically reduce water usage and eliminate harmful chemicals. Our products are not only sustainable but also soft, durable, and aesthetically pleasing. They cater to the growing consumer demand for eco-conscious home goods.” This explanation highlights both the environmental benefits and the quality of your products.

Emphasizing the unique aspects of your solution helps the VC understand the value you bring to the market. It also shows that you have a well-thought-out approach to solving the problem, which is crucial for gaining their confidence and interest.

Step 6: Describe Your Business Model

Now that you’ve presented your solution, you have to explain how your company makes money. This gives the VC insight into the financial viability of your business and how you plan to generate revenue. Mention key revenue streams and business strategies that drive growth.

For example, you might say, “We generate revenue through direct-to-consumer sales, partnerships with eco-friendly retailers, and subscription-based services for regular product updates and replacements.” This statement outlines multiple revenue streams and demonstrates that you have a diversified approach to generating income.

Providing a clear and concise description of your business model helps the VC see the potential for profitability and scalability. It also shows that you have a solid plan for sustaining and growing your business over time.

Step 7: Showcase Traction and Milestones

Highlighting your company’s traction and milestones helps build credibility while demonstrating progress. This could include user growth, revenue figures, partnerships, or any other indicators of success that show your business is gaining momentum.

For instance, you could say, “Since our launch, we’ve achieved a 200% increase in quarterly sales, secured partnerships with three major eco-friendly retail chains, and built a loyal customer base of over 50,000 subscribers.” These metrics provide tangible evidence of your company’s growth and success.

Showcasing major milestones helps the VC see that your business is already making progress and has the potential for continued growth. It also builds confidence in your ability to execute your business plan and achieve your goals.

Step 8: Articulate Your Vision

Sharing your long-term vision for the company helps the VC understand the potential market opportunity and how your company plans to scale. This is your chance to paint a picture of the future and show the impact your business can have.

For example, you might say, “Our vision is to transform every home into a sustainable sanctuary where comfort and environmental responsibility go hand in hand. We will lead the market by setting new standards for sustainable home living and capturing a significant share of the $100 billion global home textiles market.” This statement conveys a clear and ambitious vision—showing that you have big plans for the future.

Articulating your vision helps the VC see the long-term potential of your business and how it fits into the larger market landscape. It also shows that you have a strategic plan for scaling and growing your company over time.

Step 9: Include a Call to Action

End your pitch with a specific request for a follow-up meeting or further discussion about investment opportunities. This helps guide the VC towards the next steps and makes it clear what you’re looking for.

For instance, you could say, “We’re seeking $5 million in Series A funding to scale our operations, expand our market reach, and accelerate product development. Can we schedule a meeting next week to discuss how you can join us in revolutionizing the home textiles industry for a better future?” This call to action provides a clear next step and makes it easy for the VC to respond.

Including a call to action ensures that your pitch ends on a strong note and encourages the VC to take the next step towards investing in your business. It also shows that you are proactive and ready to move forward with your plans.

Elevator Pitch Examples to Help Your Startup Attract VC Funding

As you write your own elevator pitch, remember to include all elements that VCs look for: a clear business model, evidence of traction and milestones, a compelling vision of market opportunity, and a specific funding request with a call to action.

Elevator Pitch Example #1: Healthy Home Textiles

Hook: “Imagine if every object in your home could contribute to a healthier planet. What if your bed sheets and towels could help reduce waste and shrink your carbon footprint?”

Describe What You Do: “At Healthy Home Textiles, we produce luxurious home textiles—like bed linens, towels, and curtains—using 100% organic and recycled materials.”

Highlight the Problem: “The home textiles industry is a major contributor to environmental degradation, with massive amounts of water, chemicals, and waste involved in traditional textile production.”

Present Your Solution: “Healthy Home Textiles utilizes innovative eco-friendly production processes that drastically reduce water usage and eliminate harmful chemicals. Our products are not only sustainable but also soft, durable, and aesthetically pleasing. They cater to the growing consumer demand for eco-conscious home goods.”

Describe Your Business Model: “We generate revenue through direct-to-consumer sales, partnerships with eco-friendly retailers, and subscription-based services for regular product updates and replacements.”

Showcase Traction and Milestones: “Since our launch, we’ve achieved a 200% increase in quarterly sales, secured partnerships with three major eco-friendly retail chains, and built a loyal customer base of over 50,000 subscribers. Our user reviews consistently highlight our product quality and environmental impact.”

Articulate Your Vision: “Our vision is to transform every home into a sustainable sanctuary, where comfort and environmental responsibility go hand in hand. We will lead the market by setting new standards for sustainable home living and capturing a significant share of the $100 billion global home textiles market.”

Call to Action: “We’re seeking $5 million in Series A funding to scale our operations, expand our market reach, and accelerate product development. Can we schedule a meeting next week to discuss how you can help us change the home textiles industry for the better?”

Elevator Pitch Example #2: GreenTech Innovations

Hook: “Did you know that the average household spends over $1,000 a year on energy bills, with 30% of that wasted due to inefficiency?”

Introduce Your Company: “At GreenTech Innovations, we’ve developed a smart home energy management system that reduces energy waste and cuts bills by up to 40%.”

Identify the Market Problem: “Current home energy systems are outdated and inefficient, leading to major energy waste and unnecessary costs for consumers.”

Present Your Solution: “Our technology uses AI to optimize energy usage in real-time. This provides homeowners with complete control over their energy consumption and substantial savings on their utility bills.”

Describe Your Business Model: “We generate revenue through hardware sales, subscription fees for our energy management software, and partnerships with utility companies offering rebates to customers who adopt our system.”

Show Traction and Milestones: “Since our launch, we’ve secured 10,000 customers, achieved a 95% customer retention rate, and formed partnerships with three major utility companies. Our revenue has grown by 300% in the last year.”

Articulate Your Vision: “We aim to be the leading provider of smart energy solutions in the residential market, addressing a $100 billion global market opportunity. Our goal is to reach 1 million homes in the next five years.”

Call to Action: “We’re seeking $5 million in Series A funding to scale our operations, expand our market reach, and accelerate product development. Can we schedule a meeting next week to discuss how you can be part of this exciting journey?”

Tips and Tricks for Delivering Your Elevator Pitch with Confidence

When delivering an elevator pitch, how you speak and present yourself can be just as important as the content of the pitch itself. Below are a few tips to help you make a strong impression while fostering that human connection that every successful elevator pitch needs.

#1 Maintain Confident Body Language

Be sure to maintain confident body language throughout your entire pitch. Stand tall with good posture—keeping your shoulders back. Use natural hand gestures to emphasize your points but avoid overdoing it. Make consistent eye contact with your audience to build a connection and convey sincerity. Confident body language can significantly enhance the perception of your short speech.

#2 Speak Slowly, Clearly, and Concisely

Ensure your message is understood by speaking slowly, clearly, and concisely. Articulate your words well and maintain a moderate pace—not too fast to be overwhelming, and not too slow to be boring. Avoid using filler words like “um,” “uh,” and “like” to sound more professional and confident. Clear and concise communication helps in effectively conveying your message.

#3 Show Enthusiasm

Showing enthusiasm for your business is key to engaging your audience. Letting your passion shine through as enthusiasm is contagious. Use an expressive tone to vary your delivery and maintain interest, rather than speaking in a monotone. Enthusiasm can make your pitch more compelling and memorable.

#4 Practice Active Listening

Practicing active listening during your pitch helps you engage better with your audience. Be attentive to their reactions and body language. Respond appropriately to signs of interest or questions. Strategic pauses can emphasize important points and give your audience time to absorb information. Active listening fosters a more interactive and engaging pitch.

#5 Dress Appropriately

Dressing appropriately for your pitch shows respect and seriousness. Wear professional attire that suits the context of the pitch. Ensure you are well-groomed to present a polished and professional appearance. Appropriate dress contributes to the overall impression you make on your audience.

#6 Be Prepared

Being prepared is fundamental to delivering a smooth and confident pitch. Know your material thoroughly so you can speak naturally without relying on notes. Anticipate potential questions and be ready to answer them confidently and concisely. Preparation shows professionalism and instills confidence in your audience.

#7 Stay Calm and Composed

Maintain control over your pitch by staying cool and collected. Take a few deep breaths before you start to calm your nerves and keep a positive attitude, even if you face challenging questions or interruptions. Remaining composed under pressure demonstrates poise and resilience.

#8 Engage Your Audience

Engaging your audience from the start is essential for a successful pitch. Begin with a compelling hook to grab their attention immediately. Incorporate brief, relevant stories or anecdotes to make your pitch more relatable and memorable. Engaging your audience helps in making a lasting impact.

#9 Be Authentic

Being authentic during your pitch builds trust with your audience. Be genuine in your delivery and avoid trying to be someone you’re not. If you don’t know an answer, it’s okay to admit it and offer to follow up later with more information. Authenticity fosters credibility and trust.

#10 End with Confidence

Ending your pitch with confidence leaves a strong impression. Summarize your key points and finish with a confident call to action. Always thank your audience for their time and consideration. A confident conclusion reinforces the strength of your pitch.

Final Thoughts on Writing (and Delivering) the Perfect Elevator Pitch

Now, you’re well-equipped to create and deliver an elevator pitch that leaves a lasting impression on potential VCs. Remember, this is your chance to communicate your passion, your team’s expertise, and the immense potential of your business. It’s time to start: get that first draft going, refine your pitch, practice with confidence, and seize every opportunity to share your vision with the world. Your next funding round could be just an elevator ride away!