What is an elevator pitch?

An elevator pitch sounds a little silly but is a really useful tool.

An elevator pitch is an overview of an idea for a product, service, or project. The name reflects the fact that it can be delivered in the time span of an elevator ride ( for example 30 seconds or 100 - 150 words). Wikipedia

Do you have something short and succinct ready and prepared for when you are networking or phoning a client? Are you satisfied with it? If you are not quite clear what you are really about or what your business does for others how can people understand what your business does?

For some businesses it is easy, I sell mid century furniture and am the only retailer in the North West, is pretty clear. The client knows not to ask you for a Victorian Chaise Longue.

For others it can be confusing especially when starting out and not entirely sure of the concept. So people do get in a muddle and leave the person they are talking to a little confused. This is particularly hard at a networking meeting where the purpose is to make contacts which are useful or inspiring.

In developing an elevator pitch consider some of the following:

1. What do you most want the listener to remember about you? Are you the cheapest, best, certified, approved? Do you have an award? Are you the newest or the only one on the market? Consider any of the above and more. 


2. How can you add value to your listener? Think about why someone would buy your product, your key results or the impact of your services. What will be their return on any investment they make with you or your product? Don't stretch the truth here or make vast claims, you want to be credible. 


3. Your unique selling point. How are you different from others in the market? What do you give which is better or has a unique benefit to your listener? Are you different to any other product or service and in what way? Think about the conceptual aspect of what you are saying and concentrate on bringing that to life. 


4. What is it you want from your listener? Are you there to sell? What are your immediate goals? What is the time frame for the conversation? Your listener should understand what it is you want and how to take the conversation forward. Remember this is the start fo the conversation.


Finally practice your pitch out loud and make sure it is refined where needed. Time it and get feedback from friends, family or a mentor. Make sure that people understand it and that you are clear. Write it down and analyse it, consider any repetition and the word count, look for jargon and make sure you are really clear.

Here is an example:

SalesLogix is a software company and has developed a Customer Relationship Management (CRM) system that is both easier to use and more powerful than existing solutions like Act and Siebel.

Existing CRM solutions fall into one of two categories. On the one hand, you have Contact managers like Act that salespeople love but that do not allow people to share information across a large organization. On the other hand you have high-end CRM systems like Siebel that scale to support the needs of hundreds or thousands of users but that salespeople refuse to use. The result is that too many organizations are unable to...

Coordinate their sales and customer service teams 

Obtain a holistic picture of the customer 

Maximize the revenue gained from each customer

In contrast, SalesLogix delivers the best of both worlds...

The affordability and ease of use of a contact manager The scalability, database synchronization, and reporting capabilities of a high-end CRM system

The SalesLogix team has over 75 years of combined experience in the industry and is led by Pat Sullivan, the co-founder and former CEO of Contact Software International, the original developer of Act.

SalesLogix is seeking $5 million to finance the continued development and marketing of SalesLogix 1.0, which is scheduled to be released in April 1997.

This could be subbed down into one sentence for certain occasions:

SalesLogix is a software company and has developed a Customer Relationship Management (CRM) system that is both easier to use and more powerful than existing solutions like Act and Siebel. 

Then to a tagline:

SalesLogix is the first true CRM solution that's as easy to use as Act. 


Many thanks to Chris O'Leary and his great book Elevator Pitch Essentials.

Towards Sales Excellence

The topic of our next get fit for business is Sales Excellence and it seems a good thing to prepare people for it by raising a few questions about sales and setting the scene.

I suspect that driving sales is key to most business people at any time but it becomes even more important in a recession and when markets seem to be dwindling in some sectors. For many businesses who have relied on the public sector this is a time to take stock and go after sales in new markets.

Farming is a really good example of this where farmers in the 90's in particular were struggling and converted barns into bunk barns and cottages into rentals. There was a growth in farming scarce breeds and organic farming and anything which managed to bring in new markets and diversify was tried. Many of those farmers were extremely successful.

Another interesting area is the growth of coffee franchises in this country. There was a time when coffee was not our drink of choice and ordering a skinny latte, extra shot, extra hot with hazelnut would have been unthinkable. I know several people who said that coffee bars similar  to those in the US would not work in tea drinking Britain; yes they were wrong and probably missed a trick. Those who decided to go for it have been extremely successful.

Moving on to sales I am particularly uncomfortable with cold calling and would welcome any tips or help with it. I have read articles that say it is dead in any case but now there is something called warm calling where you research the area you are calling and the market and make sure you have done your homework first. This appeals to me because it means you are not following a script per se but you do know what you are talking about and who you are talking to. Understand your clients need for change and dissatisfaction with the status quo. Get people to buy something they really need.

The goal of all marketing is sales and one of the key thing in sales is to be hungry and confident. Confidence comes from excellent knowledge of your product or service. I dont like impatience in a sales person and certainly that is one of the things that puts many off. Sometimes customers just dont get it and patience is needed. A great example of this recently was when a friend of mine took her 80 year old mother to buy a computer in an apple shop. Although it took ages and a number of products were explored eventually she came out with something she could use and which was ready for her to plug in and go.

Ultimately we are all sales people and whenever we think there is a mystique around sales it is good to remember that. Every day we sell something to someone in terms of influencing them, getting change to happen or even creating understanding of goals and strategy in a company. Yet sales can still seem difficult and worrying and if you are like me then there are areas where you need help or can do with some more inspiration.

John Finlay of Onward Consultancy will be running a whole day for us on Sales Excellence at CBPartners on the 10th November and there are only two spaces left. He will introduce you to a 6 step sales process than can be adopted by any customer facing business to build value into long term client relationships. The day will cover all the key elements of sales, including  how to  convert telephone calls into appointments and appointments into sales opportunities, turning those  objections into orders  and negotiating to get the best deal for your business and the customer.


Contact us on 01254 505050 

Do you know who you are? MBTI

One of the things which mentoring can do is to highlight your personality and personal style and preferences.

I use Myers Briggs (MBTI) to talk about preferences but there are other types of personality test available.

MBTI is one of the most widely used psychometric tests available but why is it important to know more about yourself?

1. If you know more about yourself you can understand why you behave in certain ways. Why do you prefer some quiet space to think about something before coming to a decision? Why do you like working in large groups rather than on your own? Are you a last minute type person or do you like to plan? All of these questions are answered if you know more about yourself.

2. If you know more about yourself you can understand why certain people click with you and others don't. Do some people really annoy you? Do you feel a connection to someone and wonder why? Are there some personalities that are just plain irritating? When it comes to relationships Relate use MBTI to look at why certain things annoy us about other people.

3. If you know more about yourself you can sell better to others. Do you find it difficult to sell in certain situations? Are you good on the phone or face to face? What makes you a great sales person? This is also about understanding others. If you know yourself you can adjust to the situation you find yourself in better so in sales you can look at things through the other persons' eyes with more clarity.

4. If you know more about yourself you can lead people better. The best leaders are those with a deep understanding of themselves who understand why they like things done a certain way and how to work with others on a deeper level. If you manage people a lack of insight into your own behaviour can spell failure to connect or build relationships which work.

5. If you know more about yourself you can make better decisions when you hire staff. If you are not a completer finisher then hire someone who is. If you dont like detail hire someone who does and if you are not great at emotions hire someone who is.

Understanding yourself makes all decisions easier and clearer. You will know why you do things your way and what can annoy others about your own leadership style or behaviour. You can surround yourself with people who make a great team and you can sell better because you can start to understand the real diversity around you.