The Elevator Pitch – startup terminology

The Elevator Pitch – startup terminology

Evening talk with friends is indeed priceless especially if it talks about business entrepreneurship and life.  Entrepreneurship is life, so I call it.

As I am sitting outside beside the door, stuck in the middle of thinking on how business or companies started, how are they able to progress their ideas converted into something big and profitable.  A foreign friend next door passed by and asked what am I doing outside staying late at night. I answered him and later turned into an hour or two of conversations.

This friend named Jaime has been into 25 countries all over the world and me, as a computer/IT person with entrepreneurial thinking (LOL) asked him series of questions about his experiences and travel. (Shouldn’t be of similar to an elevator pitch though, just some questions out of curiosity :D )

 He also has been into the Silicon Valley, one of my favorite places. Curious, I asked him of any ideas how startups started. One thing he said and I found to be indeed comporting is that- it’s all started with an idea and burning desire of pursuance  and then the actions (Quoted from Napoleon Hill’s Think and Grow Rich Book).

Once Idea is fully established with feasibility study in place, right then the prospecting is done.

One of the ways in looking for a prospect is what they call “The Elevator Pitch”, Jaime said.

The Elevator Pitch

 For an idea to be fully functional and working it needs supporters/clients/prospects and elevator pitch is one of the ways in looking for them.   Elevator pitch requires a high level of confidence; imagine ambushing your prospect clients/investors in the elevator and you only have 30 seconds or more to explain and present your ideas. (Concurringly, not so formal, but this works if done well and convincingly, I personally believe)

Nowadays, this terminology is commonly used during bootcamps, events or the likes.

The companies or the venture capitalists will then ask for the elevator pitch of the entrepreneur or the presenters. In a very short period of time, the presenters are expected to deliver the main concept of the idea. After, the presenters should also expect rejections or congratulations depend on the viability of the idea or its capability to be made into existence.

So much for elevator pitch, one thing Jaime has shared before ending our late at night conversation, is about Tim Ferris- an entrepreneur.

Everyone needs to have a model, someone who’s already up there- the destination you want to go.

Someone who can advise you for any  doubts and confusions or downs encountered along the way and Tim Ferriss seems to be one of the men. I’ll let you know for any progress after I read his biography and walks in life or you can also read his stories as I’ll do, let me know right then and let’s have a night talk. J

Thank you for reading and excuse me for my way of composing articles, I am still progressing.