02 October, 2020 
 117

Elevator Pitch: What's That And How To Use It

If you are looking for opportunities to attract investment to your cryptocurrency startup, mastering the art of pitching is a must. After all, the ability to briefly present your project in a matter of minutes, and so that potential investors ignite the fire of enthusiasm from you, is your chance to gain trust and funds for the development of your startup.
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Elevator Pitch: What's That And How To Use It

Like many other tools, pitching came to the world of cryptocurrency startups from the outside  from the world of regular startups. This term comes from the idea of an elevator pitch, literally «presentation in an elevator.» It got this name because of its limited time, which is characteristic of the elevator path from the upper floor to the lower one.

Elevator Pitch Goals

  • Describe the benefits of your product informatively, but in the most concise form
  • Interest potential investors
  • Formulate your startup idea

The tasks are not easy, especially with limited time for a speech. Pitchings of cryptocurrency startups are held regularly and can be your lucky ticket to success, of course, if you thoroughly prepare for the performance.

How To Attract Investors With An Elevator Pitch

To make your elevator presentation attractive to investors, you need to understand what they want to hear and give it to them.

  1. Your target audience (which you, of course, must correctly identify and carefully study) always has some pressing problems that await a solution. You with your product should offer this solution, at least for one of them, and better for several.
  2. If you are talking about a problem, it should not be unfounded. Information backed by research results immediately gains more credibility. But keep in mind that the research must be real, perhaps even conducted by your organization. Mention particular examples and numbers to sound more convincing.
  3. The presentation should be formulated in simple language so that a person of any level of outlook can understand you. Mastery of professional and business vocabulary is a good skill, but an elevator pitch is not a situation in which to demonstrate it. Your time is limited, and your investors may not be experts in your field of activity, so you need to impress them in a language that everyone understands.
  4. It should be clear from your presentation of how you plan to generate income from all of the above. This is what your investors are most interested in because no one wants to invest in a project that will not bring profit (if it is not a charitable organization). After all, they are interested in making a profit with the help of your startup through stocks or security tokens.
  5. Even if all of the above is followed by you, without emotions your presentation will look like a dry report, which will be boring to listen to even for two minutes. You have to infect investors with faith in your idea, and the fire in your eyes must ignite their hearts. This becomes possible only if you demonstrate sincerity and enthusiasm.
  6. Its hard enough to fit so much into a couple of minutes that will be given to you for a presentation. But now, time is money, and investors are usually pretty busy people. That is why blogs and video platforms have given way to laconic tiktoks and tweets because the ability to fit a large message into a short video or text is now highly valued and profitable.

Read Also about 10 Important Terms In The Startup World

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