Indicator #3 – The leader must know their thirty second ‘elevator’ pitch!
In my years in business consulting it has become very clear to me that one of the key areas a top level executive must master is to know their elevator pitch.
What is an elevator pitch?
If you had thirty seconds to present a compelling case as to why your prospective client should buy from you, “what would you say?” Most business executives can’t answer this question clearly and as a result their businesses die a slow death!
It’s one of the best business consulting tips I have. And the easiest too!
The 30 second pitch is designed to appeal to nine out of ten people. They may not all be buying at the time, but they will listen to what you have to say. In a traditional sales approach, 3% are buying now and another 3% are open to it.
Additionally, 60% of the audience are not thinking about buying your product or just not interested. Finally, 30% could not care less about what you have to offer! Chet Holmes summarizes it in the best way possible, “A great marketing effort will appeal to the entire 90 plus percent of the audience.” Then through ‘education’ you drive everyone to the ‘buying now’ category. That should always be the top executive’s goal!
Apply It Now: Can you articulate you elevator pitch? Do your employees know it? If not, learn it yourself and train your employees. You can turn your company around when you understand your central message, convey it and most importantly; stick to it. The great executive should be committed to training all their employees to articulate it as well and the company we be primed to explode.