What is a mini-pitch and why should you have one?
by: Michael Luchies
Sending the right message is everything when you need to make a sale or land investors for your business to survive and grow. An elevator pitch is often tied to a competition, but how do you change your pitch out of the competition format and why should you?
Elevator pitch competitions tend to feature entrepreneurs who are representing their idea or business through a 90 second pitch. Although it may be appropriate to talk for a minute and a half straight in a competition, in most business situations it’s not. So does this mean that you need different pitches for different situations? Well…YES!
This article will cover the mini-pitch – a short concise pitch that will effectively represent your business in a clear manner to any audience. A mini-pitch should be a maximum of 15 seconds and should give the audience enough information to understand what you do, encourage them to ask questions, and have them wanting more.
When to Use
The mini pitch is perfect for a short introduction, when someone asks “What do you do for a living?,” or when cold calling or approaching a prospect for the first time. Save the full pitch until you know that your audience is dedicated to listening to what you have to offer. Using your full pitch during an introduction is equal to telling your life story within the first 5 minutes of a blind date. Give them a little information, but make sure to find out what they are looking for and what they want from you.
How to Create
Step 1: What is the basic function of your business? This is easier said than done for applications and technology based businesses. For a brick and mortar store, this is as simple as apple pie. For technology based companies that may be hard to explain so that everyone can understand what it is you do, you may need to fine tune your message.
Ex 1: The Coffeehouse offers premium coffee and bakery items to college students in Minnesota.
Ex 2: IcoffHouse shows you the highest rated coffee shop within a 6 block radius OR IcoffHouse is Google just for coffee.
Step 2: What makes you unique? The first step gives the basics so anyone gets a clear understanding of your primary function, now you can start to sell it. Step two is what sets your business or yourself apart from current offerings in the marketplace.
Ex 1: Student created coffee flavors and baked goods
Ex 2: (IcoffHouse) Based on each user’s coffee preference
Step 3: Opportunity or Market Size
Ex 1: over 100,000 people in a 10 mile area
Ex 2: 50 Million coffee drinkers in America
Step 4: Recent sales, outlook, or bonus piece of information.
Ex 1: 30% growth every month in our first year OR 700 students surveyed said they would visit every day
Ex 2: 200,000 signups in our first month of operation OR secured 1M in investment in our first round
Put it together and say it out loud:
Ex 1: The Coffeehouse offers premium coffee and bakery items to college students in Minnesota through student created coffee flavors and baked goods to a market of 100,000 in a 10 mile area and has seen growth of 30% every month in our first year.
Ex 2: IcoffHouse is Google just for coffee and finds results based on each user’s coffee preference for the 50 million coffee drinkers in America, and 200,000 of those have already signed up in our first month of operation.
You can pack a lot of punch in a 15 second pitch. Need help with your mini-pitch? PitchJam is offering 10 free 30 minute consultations where we will help you perfect your mini-pitch! No commitment needed and no risk. Contact us at Info@pitchjam.com.
About the Author
Michael Luchies is a co-author of The Entrepreneur Within You Volume 2 – coming this June!