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Learn Together

Suggested Time: 70 mins

Reading: Elevator Pitch (5 mins)

An elevator pitch is a short, persuasive speech that summarizes the key points of a business idea or product in a compelling way. It’s called an elevator pitch because it should be short enough to deliver in the time it takes to ride an elevator with someone. Think of it as a core component to the pitch deck and business plan that you create for your company.

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To write an elevator pitch for a business, start by identifying the problem that the business solves and the target market. Next, explain the unique value proposition of the business, or what sets it apart from competitors. Use simple language and avoid jargon or technical terms that might be confusing. Keep the pitch concise, typically around 30 seconds, and include a call to action or next steps. Practice the pitch to refine the wording and delivery, and tailor it for different audiences or situations. The goal is to capture the listener’s interest and encourage them to learn more about the business.

TIPS:

  • Make your pitch short, compelling, and memorable.
  • Focus on the problem that your business or service solves. People are often more interested in hearing about solutions to their problems than they are in hearing about features or benefits.
  • It’s okay for your pitch to change over time as you learn more about your audience and what resonates with them.

Activity: Craft an elevator pitch! (15 mins)

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Step 1: Take five minutes to write down everything you want someone you’re meeting to know about you.

  • Who are you? What’s your business?
  • What makes you different in your field?
  • How do you stand out?
  • What benefits would you bring to the world?
  • What current skills and experience do you have?

Step 2: Now, take five minutes to write this information on a sticky note, index card, or other small piece of paper.

  • What do you do?
  • Why does it matter?
  • Why do you do it?
  • What’s next?

Step 3: Speak it out loud! Take ten minutes to let a few volunteers share their elevator pitch with the group. As each person shares, get feedback from the group on what works well and what could be improved.

  • Weed out any jargon
  • Make it sound like normal conversation
  • Keep your message tangible and clear

Reading: Executive Summary (5 mins)

An executive summary for a business is a short summary of the key points of a business plan or proposal. Its purpose is to grab the reader’s attention and to give them a reason to read the rest of your proposal or plan.

To write an executive summary for a business, start by introducing the company and its mission statement. Next, provide a brief overview of the products or services the business offers and the target market. Include information about the competition and how the business differentiates itself from them. Provide a summary of the financial projections, including revenue, expenses, and profits. Describe the management team and their experience and qualifications. Finally, conclude with a call to action or next steps, such as funding opportunities or a request for a meeting. Keep the summary concise and to the point, typically no more than two pages, and use simple language that is easy to understand.

Activity: Executive Summary Workshop (25 mins)

Step 1: Overview (5 mins)

  • Provide an overview of the business (location, contact, etc.)
  • Describe your main products/services
  • Insights into your industry & how you fit in

Step 2: The Problem (2 mins)

  • Describe the problem you are solving

Step 3: The Solution (2 mins)

  • Describe the solution to your customer’s problem

Step 4: Market Analysis & Target Market (5 mins)

  • Who is your target market?
  • What need will your business fulfill?
  • What is the competitive landscape and what makes you different?
  • How will you reach your target market?
  • Include three initiatives.

Step 5: Operational Highlights (5 mins)

  • Operational Highlights
  • Relevant Skills & Experience of Team

Step 6: Keys to Success (3 mins)

  • Sales Projections
    • Where you expect to be after year one
  • Expected Profit or Break Event Point
  • Expected Costs

Step 7: Financial Highlights (3 mins)

  • Sales Projections
    • Where you expect to be after year one
  • Expected Profit or Break Event Point
  • Expected Costs
  • Funding Needs (Optional)

Breakout Rooms: (15 mins)

Give and receive feedback on your executive summaries in small groups.

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