WHAT IT IS:
The adaptive elevator pitch is a quick explanation of a business idea or other proposal. The term reflects the idea that in the time it takes to ride an elevator, the speaker should be able to summarize the key elements of the idea in a compelling way.
HOW IT WORKS (EXAMPLE):
Elevator pitches are a key part of raising money for new ventures. For example, let’s say John Doe has a business idea and wants to raise some capital from investors. His idea is detailed, involves technology and patents and other complicated concepts, and has several big elements. Because investors don’t always have time to listen to a two-hour explanation of John’s idea, and because they need help understanding what the big deal is, John creates an elevator pitch: a 90-second speech that summarizes the mission, the idea, the reasons it will succeed, and what he wants the listener to do. This way, an interested investor can see the big picture right away and decide whether he or she wants to schedule time to learn more about John’s idea.
WHY IT MATTERS:
Deals are made and broken because of elevator pitches. If they are not compelling and articulate, the speaker will likely never get to the next level with an investor, employer, or influencer.
Elevator pitches aren’t just for startups, however. People looking for jobs should also develop elevator pitches about themselves so that they can tell prospective employers what their skills, objectives, and requirements are in 2 minutes or less. Similarly, any employee with a big idea should develop an elevator pitch — you never know when you might happen to be in an elevator with the CEO.
Your Adaptive Elevator Pitch shall be about one of the following 2 options:
Starting your own business
Presenting a new project to your company
1. Identify who you are and briefly state your qualifications. (1 point)
2. Describe your proposed idea (new business or new project). (1 point)
3. Identify the problem your idea is designed to solve. (1 point)
4. Name your targeted audience (customers or users). (1 point)
5. Describe how at least one technology OR framework covered in our class is a key enabler and will be an integral part of your new business or new project that you are proposing and how it will be used to solve the problem you identified in step 3. (1 point)
6. Whenever possible, use numbers or percentages to prove your points or measure success in implementing your new idea whether it be for starting up a new business or a new project. (2 points)
7. Identify and emphasize the benefits you will provide to the customers or users. (1 point)
PLEASE be clear that which one is part I and which one is part II, thank you.