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Stage 3: Craft Business to Know Viability ◾ 103

5.4 Step 16: Elevator Pitch

After going through the previous 15 steps, it is important to communicate
the value and positioning of your business to the outside world in a manner
that is easily understandable and impactful. This step is about helping you
craft a succinct message. This messaging could be geared toward potential
investors, partners or customers.

An elevator pitch is a common metaphor that has gained wide accep-
tance. An elevator pitch is a short statement that explains (to investors or
other interested parties) the most important facts about your company – all
within the time frame of an elevator ride.

5.4.1 Template
5.4.1.1 Short Version

Here is a short version for the elevator pitch:

For Customer/customer segment,
Our business provides
To Solution description

Currently, Customer Need As Insight (on why it is important for
Lack/are customer),
Without this solution,
customers will Customer Need As Insight (on why it is important for
customer), and

Customer Need As Insight (on why it is important for
customer);

Competitive alternatives

Competitive advantage(s)

Impact (loss) of inaction/compelling event for customers
to get this solution from you

Here is an example of an elevator pitch of a fictional company called
“HomeMeals”: