What is an Elevator Pitch?
         Context of Entrepreneurship
    • A business-oriented, purposeful verbal 
      message as fast as a ride in an elevator (30 
      -120 seconds) in understandable language 
      – also for technology areas
    • A concise, carefully planned, and well-
      practiced “answer” about yourself, your 
      business, your firm, your project etc.  
    • A situation with an opportunity to sell your 
      company’s identity and set yourself apart 
      from other entrepreneurs  
   W. Runge 04/2008                                   2
            What is an Elevator Pitch?
               Business Plan Context
    Elevator Pitch: a back-of-the-envelope business plan
   Elevator Pitch:
   • The problem 
      (need) you are 
      going to solve 
      (satisfy)
   • Your solution, 
     your answer
   • Your value 
     proposition           20 Minute Business Plan Presentation
   W. Runge 04/2008                                       3
          Elevator Pitch Situations
    • All conceivable constellations to initiate 
       linking investors (backers; “sponsors”, 
       decision makers) and entrepreneurs 
       (intrapreneurs) 
    • (A startup) searching for financial 
       backing or cooperation partners
    • Meeting someone (accidentally or 
       intentionally) at …
        – Competence Network Partnering-Events 
        – In firms: Meeting a “big boy” in the canteen, 
          plane, in the lobby of an airport, …
   W. Runge 04/2008                                           4
      You only have one chance to 
      make a first impression!
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                   Approach
   • Give people a “hook” by talking about 
     something that really interests them
   • It must be succinct, to the point
   • Focus on one simple message
   • Make it simple and easy for people to 
     contact you after the pitch –
     give them an incentive to seek you out
   • For investors: It must be greed inducing
     (inducing expectations of big profits)
   W. Runge 04/2008                              6