The Power of the Pitch

Image from Black Enterprise Magazine

Image from Black Enterprise Magazine

The elevator pitch remains relevant. If you are aren’t familiar with it, the elevator pitch is a 30 to 60-second summary of your business, product or message. The premise being that you should be able to describe value to someone in less time than an elevator ride. If they are interested, the conversation may extend beyond that elevator ride. Meaning, the elevator pitch needs to be tight and on point to hit the key elements of your message.

The elevator pitch is also helpful in summarizing your business goals and objectives. In the fast-paced, changing world of social media, a lot of information moves along a continuum, and people need to quickly know the value of the information and what’s in it for them. An elevator pitch is especially useful for meeting people at networking events and business conferences, and is most effective when prepared and practiced in advance.

And while you’re practicing, here’s a great opportunity. For the past 20 years, Black Enterprise Magazine has been sponsoring its annual Entrepreneur’s Summit and one of the highlights is the elevator pitch competition in which $10,000 is awarded to the winning pitch to help build and grow a winning business idea, along with mentorship. The pitch competition is now accepting two to three minute entries through Friday, April 17. Finalists will be invited to participate in a live pitch during the May 2015 Entrepreneur’s Summit in Atlanta, Georgia. For more details, visit here.

Staff at Own Your Idea, LLC have had an opportunity to attend one of Black Enterprise’s Entrepreneur Summit and previewed the pitch competition and can say it is a fun, engaging and educational event.  If your business needs that edge and ready to go to another level, consider entering the pitch competition, if nothing else but for the experience to perfect your elevator pitch.

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