Does Your Elevator Pitch Open Doors?

In today’s fast-paced world, people’s attention spans are short. You only have about 30 seconds to grab someone’s attention before you lose the opportunity. Always leave them wanting more!

In this episode of FedBiz’5 we host Senior Contracting Specialist and former Federal Government Contracting Official, Frank Krebs to explain the importance of a well-rehearsed 30-second introductory elevator pitch.

Having a clear and concise company pitch is crucial when you want to catch someone’s attention quickly. Whether you’re meeting a representative at a networking event, conference, or making a cold call, you need a short introduction that captures their interest and leaves them wanting to know more.

Why do you need a good introductory elevator pitch?

When you meet new people, you want to grab their attention quickly. That's where an ‘elevator pitch’ comes in handy. It's a short and easy-to-understand description of your company, products, or services.

The goal is to spark interest and start a conversation, not to make a sale right away. Your pitch should focus on how you can help the other person and end with a request to connect again soon.

Why keep the pitch to around 30 seconds?

In our fast-paced world, people's attention spans are short. You only have about 30 seconds to grab someone's attention. If you take longer, you might lose the opportunity. So, keeping your pitch brief and engaging is crucial to making a good first impression and keep their attention.

How to prepare your pitch:

•  Start by acknowledging the person you're talking to by name.
• Introduce yourself with your full name and mention your company.
• Share an interesting fact or statistic about your company or products to create a "hook" and generate interest.
• Focus on the top few items you specialize in or that the recipient is interested in.
• Be friendly, engaging, and personable.
• End your pitch with a question - “Does that sound like something your organization can benefit from?” Or “Is this something that might interest you?”
• After your pitch, always conclude with a request to connect again in the very near future.

Examples of a good elevator pitch:

Example 1: "Hi, Mr. Johnson. My name is Sarah, and I represent Quality Tech Solutions. We specialize in providing innovative IT solutions to government agencies. In fact, our services have helped organizations like yours increase their operational efficiency by up to 40%. I'd love to connect further to discuss how we can support your team in achieving their technology goals. Does that sound like something your organization can benefit from?"

Example 2: "Hello, Ms. Rodriguez. I'm Mark from EcoSolutions. We're an environmental consulting firm dedicated to creating healthier and sustainable work environments. Our cutting-edge air purification system eliminates nearly 99% of germs, significantly improving indoor air quality by over 70%. I believe this could be a valuable asset for your government office. Would you be interested in exploring how our solution can benefit your team?"

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Transcript

Transcript | FedBiz'5 Podcast | Episode 45
Does Your Elevator Pitch Open Doors?

Jesse Sherr 00:02
My name is Jesse and I work with small businesses in the Government Marketplace. You're listening to FedBiz'5, where you get informed, get connected, and get results on everything government contracting. 

Jesse Sherr 00:15
Hello, and welcome to another episode of FedBiz5'. Today we have Frank on and he's here to discuss the importance of a well-rehearsed 30-second introductory pitch. Hi Frank, how are you today?

Frank Krebs 00:27
Hey, I'm good, Jesse, how's everything?

Jesse Sherr 00:30
Everything's going well with me! So, let's get started. What are the benefits of having a well-rehearsed introductory pitch? 

Frank Krebs 00:36
Well, Jesse, whether you're introducing yourself to a representative at a networking event, a business conference, or even if you're cold calling a contracting officer, you're going to want to capture their attention, and you're going to want to do it fast. So, in situations like these, you need a short, easy to grasp explanation of your company, its products, or services, very much like an elevator speech. The elevator speech is designed to be a short description of what you do or what you sell, and the goal is to earn a longer or second conversation, it is not to convince the person you're talking to that they should hire you or buy your services on the spot. 

Frank Krebs 01:21
Also, an elevator speech is never the opportunity to close a deal. It's simply a short introduction to you, your company and how you can help the government manager. Keep your introduction pitch goal oriented. For example, our services help organizations increase their internal productivity by as much as 40% without additional costs. Always conclude with a request to connect again in the very near future.

Jesse Sherr 01:54
So, why is it important to keep the pitch like around 30-seconds,

Frank Krebs 01:58
Jesse, we live in a very fast paced society, and in most introductions, you're only going to have 30-seconds or so to grab the attention of the person that you're meeting with. If you can't garner their attention in 30-seconds, you will most likely lose the opportunity to do so. Most individuals’ attention spans are short, so you must take advantage of the time that you have. Therefore, keeping your pitch to no more than 30-seconds can accomplish this goal.

Jesse Sherr 02:28
Well, that definitely makes sense. I mean, how many people are diagnosed with ADHD or ADD? I mean, I'm one of them. So...

Frank Krebs 02:35
Ha ha ha. I mean, we all are to a degree.

Jesse Sherr 02:38
Ha ha ha. I can understand, you're going to lose their attention within those 30-seconds. So, you definitely have to do that. So, another question is, how do you prepare an introductory pitch and what should be included? 

Frank Krebs 02:51
Okay, first, always acknowledge the individual you're talking to by name. Second, while it may sound simplistic, always introduce yourself by your full name, and include your company's name. Next, you want to talk briefly about your company's mission and always try to use a hook. The hook is any fascinating fact or stat about your company, or one of your products. For example, earlier, I said that our services have improved productivity by an average of 40% by organizations that implemented them, that's a hook. Or, you could say something like, our product increases air quality by over 70% as it eliminates nearly 99% of all germs. Finally, be engaging with the person you're speaking with and be friendly. That comes across very warm and open to the person you're talking to.

Jesse Sherr 03:52
Yeah, like being personable. Being personable is a plus. Thank you for explaining the hook, because I was going to ask, so appreciate that. “Hook, line, and sinker.”

Frank Krebs 04:03
It is a fishhook. You're trying to reel them in. 

Jesse Sherr 04:06
Yeah, exactly. So, is there anything you should not include in the introductory pitch?

Frank Krebs 04:12
Yes, stay away from acronyms, unless they're universally known or recognized. Also, don't try to list everything that you do, or everything you can provide. Hit on the top few items, only. The ones you really specialize in or the ones that you know the recipient is interested in. Finally, as stated earlier, no hardcore sales pitch. Remember, the purpose of the introductory pitch is to capture the recipient’s interest so that you can either continue the conversation or establish a future connection.

Jesse Sherr 04:51
What would be a hardcore sales pitch? 

Frank Krebs 04:54
Well, I mean, a hardcore sales pitch would be something along the lines that you find in See in automotive store where you're in, 

Jesse Sherr 05:03
Like, Act now! 

Frank Krebs 05:03
Yeah, if you don't take advantage of this sale, you know, if you take advantage today, you're going to get a, you know, much larger discount, you know, things like that. There's no reason to do that.

Jesse Sherr 05:16
Yeah, that makes sense. That's something you'd want to stay away from because you're trying to build a rapport, and that's just going to shut that door.

Frank Krebs 05:22
Exactly, that's going to close that person's mind to what you're trying to do. Which is get their attention and to build a relationship that you can further structure conversations around and try to at that point, then push your product or your services.

Jesse Sherr 05:41
So, you know, sounds like the best pitch is one that is concise and should introduce you and your company in such a way that the recipient wants to hear more, right?

Frank Krebs 05:49
Absolutely. Remember, practice your pitch as you want it to be natural. You want it to sound clear, you want it well paced, and remember, not more than 30-seconds, but hopefully it leaves them wanting to know more. Also trying to end your pitch with a question. Something like, does that sound like something your organization can benefit from? Or is this something that might interest you?

Jesse Sherr 06:15
Yes or no questions? Right?

Frank Krebs 06:17
Exactly.

Jesse Sherr 06:18
Isn't that like a sales thing? It's like you ask a question for a yes or no answer.

Frank Krebs 06:22
It's a little bit but it's not the hardcore. You got to do something today, act now or forever hold your peace.

Jesse Sherr 06:30
Well, Frank, I really think that our listeners will appreciate this and hopefully it'll give them some help for their future contracts.

Frank Krebs 06:38
Sure. And remember, when they're talking to folks, make sure you speak with confidence. 

Jesse Sherr 06:43
Yeah. 

Frank Krebs 06:43
Okay, if you're confident that will come across to the recipient as well.

Jesse Sherr 06:47
Absolutely. Once again, I appreciate having you on Frank...

Frank Krebs 06:50
All right. 

Jesse Sherr 06:50
...and we'll catch up with you again.

Frank Krebs 06:51
You got it. Take care. 

Jesse Sherr 06:53
You too. Bye.

Jesse Sherr 06:53
This concludes this week's episode of FedBiz5', where you get informed, get connected, and get results. Today's podcast is sponsored by FedBiz Access. Government contracting made simple. Visit them at www.fedbizaccess.com or contact them at 888-299-4498