As you may know, here at Bells Accountants we are avid supporters of business networking and the benefits it can bring you and your business. A large part of getting the most out of networking opportunities (particularly unplanned ones) is how you pitch your business to the many interesting people in the room that you may hope to do business with, in the future. The benefits of having an elevator pitch prepared for such opportunities will help you out no end and give you confidence when kicking off conversations with other people in the room.
“What is an elevator pitch” I hear you say?
Well it’s simply a short, pre-prepared speech which explains what your company does in a clear and succinct way, the end game being to spark interest in your company. It is an American born technique that should last no longer than a short elevator ride (20 to 30 seconds) hence it’s unusual name.
Why does my small business need an elevator pitch?
They are great to use when introducing your organisation to potential clients or customers and are helpful in explaining what makes your business unique, particularly when you run into potential clients unexpectedly. But that is not the only benefit you will reap from crafting one…
- They can also be useful for pitching your products and services or when talking about yourself (such as job opportunities/interviews). You could even use them to sell a new idea to your peers or sometimes it’s just useful to have one prepared when people ask you what you do for a living as we are often put on the spot, or caught off guard and just cannot think quickly enough.
- You never know when you may need it. What if you end up standing behind someone in Sainsbury’s who could really help you, but your mind goes blank? Crafting an elevator pitch means you will always be prepared, even in the most unlikely situations.
- Running a business requires you to wear a lot of hats, whilst juggling a lot of balls. You will undoubtedly have a thousand tasks running around your mind in any one day. Preparing an elevator pitch enables you to focus on just one objective that you want your business to achieve. It will allow you to prioritise what is important and what isn’t. For example, if you have recently launched a new product and you want to grow sales of that product considerably in the next six months, focus your elevator pitch on that product rather than on the other products you have on the market. My point is that an elevator pitch doesn’t have to be generic or set in stone. Revising and refocusing your pitch is vital.
- If you can sum up your business and what problems you can solve in 20-30 seconds you will install confidence into your audience that you know what you’re doing. Keeping it brief also respects that their time (and yours) is precious and may just win you the meeting you’re after where you can cover things in more depth.
- A good elevator pitch will lead to referrals. If you can easily explain your business, then other people will be able to as well – if you couple that with a memorable and unique offering then when your audience is in a situation where they can recommend you, they will.
To help get you started. Here’s Joanne Bell’s current elevator pitch for Bells Accountants. The aim of Joanne’s pitch (on this occasion) is to specifically raise awareness of their upcoming Pure B2B Mastermind Groups:
Hi. I’m Joanne from Bells Accountants. We are a multi practice accountancy firm in South East London specialising in helping business grow both their turnover and profits. We work in partnership with all our clients to whom we assign dedicated managers to enable great relationships to be built. We are constantly finding ways to help our clients such as regular 121 reviews, business development support through free to attend workshops and software training. We are currently busy spreading the word about our upcoming B2B Mastermind Groups that we are hosting. They aim to help businesses develop and improve their net profit. If you are interested please don’t hesitate to let us know.
As you know, the Bells team are not just financial experts, we are also part of a great local business network so we are well versed in how to pitch businesses. If you need help with this or any elements of your business, please just ask us, we’d love to help.