The standard elevator pitch is under going a face lift with new media. Getting clients or investors attention may never be the same again with reality pitches and Twit pitches.
The elevator pitch is a means of convincing investors, networks and prospects of your business potential in 60 seconds or less. Although a long time standard in the investment community, the elevator pitch is being re-invented.
As new media has exploded in recent years, the number of channels and methods to pitch has increased. The new elevator pitch allows you to reach a broader audience and receive critical feedback and comments to improve your pitch and business. If you are having trouble reaching investors or clients try a new way:
Reality Pitch: As reality TV has taken the living room by storm, it has also opened up a new channel for pitching business ideas. Inventors had a brief minute to convince George Foreman, ex-boxer and grill entrepreneur along with other judges on the merits of their idea on The American Inventor. In Canada, U.K. and Japan, entrepreneur wanna-bees have a few minutes to use their elevator pitch on investors in the successful reality show Dragon’s Den.
Tube Pitch: YouTube, the online video sharing service has over 80 million viewers. This is a large, ripe market for any upstart company. A search on YouTube for the term “elevator pitch” returned over 12,000 results. Forget the 80-page business plan; the new pitch allows you to evoke the passion behind your idea or business.
Twit Pitch: Twitter is micro-blogging allowing text messages of 140 characters or less. Twitter has taken the 60-second elevator pitch and turn into the 140 character pitch. The Twit Pitch was first conceived by Stowe Boyd, who told startups wanting to pitch him to use Twitter.
A typical Twit Pitch to Boyd: “Static Flickr pic for scheduling?? Let us show you the light with TimeBridge. 2:20 or 4:40 Thursday in the press room?”
Blog Pitch: TechCrunch, the popular blog has created TechCrunch Elevator Pitches “One Startup. 60 seconds. Go.” The blog describes its service as “where founders and CEOs get a chance to pitch their startups directly to you, the TechCrunch audience. Vote the best pitches up and the stinkers down, and tell them exactly what you think of their businesses in the comments.”
Slide Pitch: SlideShare is an online slide presentation community. Creating your elevator pitch in a brief slide presentation can reach your audience or allow you to send them to a website for more details.
Wind-Sail Inc. posted a 20-slide presentation of its urban wind power company with an executive summary and competitor outline.
Elevator Pitch Falls
Does using the new media make you business idea more susceptible to competitors?
There is no hard, fast answer. Generally, a business idea that can be easily copied by your competitors has no barriers to entry and will more likely fail. If you have a great idea, with proprietary technology or patents, you can be at less risk than pitching a less protected idea in the new media.
As with posting any elevator pitch or business plan online, be vigilant in setting security options and posting files in the read-only format. You never want anyone manipulating your figures, charts or company information.
The new media offers new opportunities for the average person or business. Just ask Arnel Pineda, who was discovered on YouTube and became the replacement singer for the rock band Journey. You never know who might be watching.
