The reason that your “elevator pitch” matters is because it demonstrates the degree to which you have truly thought through what you are proposing to do.
In other words, if your description of your concept is not concise, clear, and compelling, you still have work to do.
To demonstrate, this is how I might pitch our WISC Partners venture fund:
- There are a significant number of great, but under-valued companies starting in Wisconsin. World-class research flowing out of UW provides opportunities for commercialization and building value.
- WISC is comprised of partners who throughout their careers in Silicon Valley have proven their ability to build great companies and deliver liquidity events that reward their investors and employees.
- Our strategic operating capital model injects not just funding into the mix, but as importantly injects our expertise in building companies and our professional networks to open business development opportunities outside of the region.
- These last two elements are what has been missing in Wisconsin and accounts for the under-valuation of its start up companies and explains why some promising ventures may previously have moved elsewhere.
- WISC is a diversified technology fund that enters into an execution plan agreement with our investments that is designed to accelerate growth, value creation, and exit. We are highly engaged, choose companies that we believe can achieve a successful exit within 2-3 years, and do so at valuations identical to comparable Silicon Valley companies.
- Currently we are both raising capital and making our initial portfolio investments, having recently closed our first investment, which will be announced shortly.
Is this concise, clear, and compelling? Yes. It is also an elevator pitch that does not require an overly tall building which is of particular importance here in Madison.
In closing, continue to refine your pitch until it quickly conveys what needs to be understood in order to capture attention, pique interest, and earn yourself an opportunity to elaborate further. Prove that you have thought it through from every angle.