![]() The elevator speech literally has its origins in the first sales pitch for emergency elevator brakes, an innovation developed by Elisha Otis who was the founder of the Otis Elevator Corporation.The elevator speech was born as a way for startups to stand out from the stacks of applications venture capital firms were reviewing for funding. Lore has it that the companies most likely to secure funding were those that had a simple pitch and could clearly explain their proposal. The term comes from the early days of the internet startup boom when entrepreneurs needed venture capital funding to get their businesses off the ground.The elevator speech term grew out of the studio days of Hollywood where screenwriters would catch an unsuspecting movie executive in the elevator and give them their pitch for the next great film.A few of the theories floating around about the history of the elevator speech include the following. Where did this concept of the elevator speech get its start? There is debate in the literature about the origins of the elevator speech. These benefits could come in the form of resource support, barrier removal, or the support of project communications and change management efforts.Īn elevator speech done well should communicate the core elements of an improvement project and outline the need for change – all in 60 to 120 seconds. The influencer is typically an executive, leader or key stakeholder within your organization whose support of your improvement work would benefit the project. Typically, the person to whom you gain access is an influencer. The term elevator speech refers to gaining unanticipated access to someone to whom you would like to sell an idea or proposal. The elevator speech is, at its core, a tool for socializing the work (planned or in process) of your improvement project team. ” While all of these responses support the small talk many of us partake in during chance encounters in the workplace, they would all represent missed opportunities to talk up your current project and potentially garner additional leadership support for your improvement work. The leader asks, “What are you working on?” You could say, “Oh, you know me, I’m keeping busy” or perhaps “I’m working on a few new projects” or even “I’m making great progress on my project working with. An elevator pitch should include why your product, idea, or project is worth investing in by explaining such things as the features, benefits, and cost savings.Imagine you run into a senior leader in your organization in the elevator or while walking down the hallway. ![]() The elevator pitch is also used by project managers, salespeople, and job seekers as a way to market themselves or their ideas. ![]() Venture capitalists use the quality of the elevator pitch as a way to judge whether to take the next step on the road to potentially investing in a startup. Entrepreneurs use elevator pitches to help obtain startup capital from venture capitalists and angel investors.Project managers, salespeople, and job seekers use elevator pitches as a way of marketing themselves, their products, or their ideas. ![]() The objective of an elevator pitch is to pique the listener's curiosity enough for them to take any action, such as asking for more information or scheduling a follow-up meeting.An elevator pitch gets its name from the notion that the speech should be short-no longer than the time period of an elevator ride-or about 30 to 60 seconds long.An elevator pitch is a slang term that refers to a brief speech that outlines the idea for a product, service, or project. ![]()
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