Elevator Pitch
A slang term used to describe a brief speech that outlines an idea for a product, service or project. The name comes from the notion that the speech should be delivered in the short time period of an elevator ride, usually 20-60 seconds.
In the financial world, the speech refers to an entrepreneur's attempt to convince a venture capitalist that a business idea is worth investing in. Investopedia Says:
Venture capitalists use the quality of the elevator speech as a way to judge whether to continue with an idea. The elevator pitch is also used by project managers, salespeople and jobseekers as a way to market themselves or their ideas. An elevator pitch should include why your product, idea or project is worth investing in by explaining such things as the features, benefits and cost savings. Related Terms:
Angel Investor
Back Of The Napkin Business Model
Bootstrap
Burn Rate
Drive-By Deal
Love Money
Seed Capital
Venture Capital
Venture Capital Fund
Vulture Capital |