Business Beat: Elevator Pitch Always Needed in Business
At the Entrepreneur Development Centre (EDC) at Medicine Hat College, we help students and recent alumni start businesses. Spring time, in particular for us means the excitement of aspiring entrepreneurs pitching their business ideas through our Start Up Company program. In preparation for this pitch, we get students to focus on their key messaging. Students and alumni have only five minutes to get across what they are selling, to whom, and of course how they are going to make money.
Below the surface, however, they are really selling themselves along with creating interest in their company. People listening to the pitch usually make their judgments in the first 30 seconds about whether or not they believe the company has merit, and whether or not the pitcher can make it come to fruition.
This skill is more commonly known as the elevator pitch. The name comes from just that. Think about being in an elevator with someone who asks what you do for business — you need to get your point across effectively in 20 to 30 seconds. This is why even a 10-minute pitch opportunity warrants preparing an elevator pitch first, to ensure you are truly delivering the message you want to share.
There are many resources online that can help write a good elevator pitch, the key however, is practice. It’s something that should be done regularly, whether it’s speaking about your core business offering, or testing out a new product or idea.
If you are looking for feedback on your pitch, there are many local opportunities to do just that. Attend a MHC Start Up Company Pub Pitch Night at Medicine Hat Brewing Company and hear from a panel of business experts. If one-on-one is more your style, book an appointment with one of our team members and we would be happy to assist you.
Whether through the EDC, or other local supports that we would happily refer you to, help is available for entrepreneurs who want to start, connect and grow. Please contact us to learn more.
The MHC Entrepreneur Development Centre helps student and alumni bring their entrepreneurship dreams to life. We offer one-to-one coaching, training, mentorship and access to a diverse network of start up funding. To connect into our network email email@example.com or call 403-502-8433.
Tracy Stroud is manager of business development at Medicine Hat College.