Create Your Elevator Speech
In addition to your authentic story, you also need to create an elevator speech for your business. This term originally came from the early days of the Internet when companies were clamoring for investment capital.
If you wanted to get your message heard, you had 30 seconds or less to get your entire point across. In many cases, you might only get to talk to the right person on a short ride on the elevator. If you couldn’t get people excited about what you had in less than 30 seconds, you were done for.
Having a concise elevator speech is vital for introducing yourself and your business to someone. It is used for networking with others at events. It empowers word-of-mouth marketing and referrals. It would be used if anyone asks you to introduce yourself in front of a crowd. It creates the first impression people have of you (which you should know is very hard to get rid of once it has been created). It answers the common question, “What do you do?”
How do most people answer the question, “What do you do?” They say things like, “I’m a real estate agent.” Or they say, “I sell cars.” Or the ever popular, “I’m a lawyer.” Maybe you should say, “I own a website selling dog toys.” That might have been what you’ve been saying up till this point. If so, you’re missing out.
If you say I’m a real estate agent, your listener will then think back to all the real estate agents they know and label you exactly the same. If you say you sell cars, they’ll think about any bad experience they may have had with car salesman. Now you’ve been labeled and they know to avoid you.
Think about the statements you’ve been making. If you simply tell people you’re a real estate agent, you’re not giving them any benefits. These statements are focused on you, not on your clients.
Everyone you meet is really only thinking about one thing, “What’s in it for me?” So what if you’re a real estate agent. We have enough of those around here. So what if you sell toys for dogs. There is a pet shop down the street. So what if you sell cars. There is someone doing that on almost every street corner.
Every one of us is always thinking about ourselves, our lives, our friends, our family, and our stuff. People you meet are more interested in themselves than they are in you.
Let me give you a little hint to what I’m talking about. People don’t mean what you’ve been thinking when they ask, “What do you do?” What they’re really asking is, “What can you do for me?” From now on that is what you need to hear when anyone asks you what you do.
You need to tell them the benefits of working with you. Your answer shouldn’t be about “you.” It should be about what you do for them or people they may recommend you to. Remember this rule.
Even if they’re not your potential client, they know someone who is. When you first meet someone, do three things: smile, give them your card, and tell them who you are and what you do for people. If you make it exciting and benefit rich, you’ll see your word of mouth advertising expand exponentially.
This elevator speech is connected to your Unique Client focus and is just an expansion on the same principles. I like having my clients create both at the same time since they build on each other. In fact, you’ll often find your focus statement is simply one short piece of your longer elevator speech. It’s the most important element of your pitch.
Here is an example one (one I’ve used for my own coaching business):
“I’m Terry Dean and I help business owners and professionals earn more, work less, and enjoy life! Many business owners are frustrated because they work long hours, have little time off, and earn low income. They’ve lost their passion and excitement for life. I train, consult, and coach them in 10 key strategies proven to increase profits and reduce workload in any business. Would you like to know more?”
Notice I didn’t even say I’m a business coach. Many people don’t even know what a business coach is! And those that do know definitely don’t want one because of experiences they’ve had with poor ones in the past.
Anytime I’ve told people I was a business coach, I got one of two responses. Sometimes people would simply ask, “What is a business coach?” Others would just give you a knowing stare and shrug their shoulders saying, “Uh huh.”
This quick speech shares the benefits in the first sentence. Then it points out the “pain” in the marketplace in the second (the frustration, work, and low income of the business owners). Then it tells them how I solve the problem (through the 10 key strategies).
Finally, there is a “call to action” sentence asking them if they’d like to know more about this. It is short and to the point. Originally it was much longer, but I cut it down till it had the bare essentials.
Here’s the basic outline for what I did:
1. Unique Benefit Sentence
2. Explain the pain (you learned this in your customer research).
3. Tell them how you solve the pain.
4. Call to action – ask them if they want more information or know someone who might.
This elevator speech should become the example for developing one of your own. What is the elevator speech for your coaching program?
- What is the one unique benefit you provide your customers/clients?
- Use one sentence to describe the pain (problem) your customers/clients experience that causes them to need your solution.
- Write a one sentence description of how you solve the problem.
- Now…write your elevator speech using the three answers above. Describe your unique benefit. Explain the pain or problem. Then offer your solution to the problem.
Finally, add a call to action by asking if they would like to know more or if they know anyone who is experiencing this problem (it should take no more than 15 to 30 seconds to say this to people).
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I believe your quite right about the fact that your speech will only be heard if you deliver a success in the first 30 second.
Hey Terry,
I think a lot of folks get the concept of having a KILLER HEADLINE AND SUB- HEADLINE wrong.
We all think that such killer and sub headlines are only useful when crafting sales letters,etc
Fact is is it goes a step further than that. If marketers can incorporate the concept of headlines and sub-headlines into their elevator speech, that would be fantastic.
I totally agree with you.
Hi Terry
Elevator speeches predate internet firms clamouring for investment cash by a long time. They were old when I started consulting 15 years ago!
I absolutely agree with your principles of avoiding the job-title stereotype, and of making the speech very client pain/benefit focused.
However, I would say that I think the concept of the 30 second elevator speech can be unhelpful.
In my experience today you don’t get 30 seconds.
I feel that a 30 second elevator speech as you’ve laid out is just too long. It’s too much of you talking before you get any feedback from them.
In reality, in most business situations such as networking events people aren’t expecting you to pitch at them. As you say, they may be interested in how you can help them – but more usually they’re interested in selling their own services – that’s why they’re there.
A full 30 second elevator speech is just too long in those circumstances. You need something short and sharp which “hooks” their interest and also serves to qualify whether they may be a potential client or referrer for you. You also want to avoid your speech coming across as pre-scripted – that basically tells the person you’re speaking to that you’re not interested in them, you’re just trotting out your standard canned lines. The longer your speech, the more it will sound scripted and pre-meditated.
I would recommend initially only using the first sentence in your pitch: “I help business owners and professionals earn more, work less, and enjoy life!” – then wait for them to respond.
If they say “how do you do that?” or “tell me more” then they’ve shown they’re interested, and you have their permission to go on with the rest of the speech. (Personally I would begin with the pain first, then wait for their interest, then go on to the benefit & the how – but that’s personal preference).
If they don’t express interest you can ask about their business and maybe establish a connection and stimulate interest through that.
In other words, treat it much more like a conversation than a speech.
I’d also avoid asking if they want to find out more. Most people will say yes, even if they aren’t interested, just out of politeness. I’d rather wait for them to express interest and show they’re genuinely interested – or show my interest via questioning about their business.
Hope you don’t mind me “coaching the coach”!
Ian
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Hi Terry.
You’re great. You give me a new skill. Thanks a lot. I’ll use it for the rest of my life.
Isaac Yassar
http://www.isaacyassar.blogspot.com
Hi Terry,
I think the idea of a personal elevator speech is very powerful and something not many people think of. I found your post excellent and have featured it as an Editor’s Pick in the latest edition of the Carnival of Personal Development (Edition 3). Great job!
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Hi Terry, very good points. I want to learn how to be an online entrepreneur, I will start reading your blog.
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