create your elevator speech

A Thought Transformation Book by Linda Bishop

CreateYour

ElevatorSpeech

“Create Your Elevator Speech” is published by TTBooks.biz. TTBooks.biz is a Division of Thought Transformation, Inc. 3510 Evans Ridge Trail Atlanta, GA 30340 Buyers, salespeople and companies referenced in examples are fictional. Any resemblance to real buyers, salespeople and companies is coincidental. Every effort was made to proof‐read this book. If you do catch a mistake, we would love to hear from you at [email protected]. Copyright©Linda Bishop, 2009 All rights reserved. No part of this book may be reproduced in any form or by any means without prior written permission of the Publisher, excepting brief quotes used in connection with reviews, written specifically for inclusion in magazines, newspapers or online publications. (Revised 05‐31‐09)

Create Your Elevator SpeechCopyright ©2009 Linda Bishop, All Rights Reserved.

1

After reading this you will know:

• Why you need an elevator speech.

• How to construct your own elevator speech.

• How to convince prospects to say, “Tell me more.”

The phrase “elevator speech” is often heard in the business world but its roots lie in Hollywood. Imagine you’re a would‐be movie mogul with an idea that is sure to be the next big blockbuster—if you can sell it.

One day you step onto an elevator on the 15th floor of a LA high‐rise and find yourself face‐to‐face with Steven Spielberg. Wow! What an opportunity. The elevator descends and you have about twenty seconds to sell the famous director on meeting with you to discuss your brilliant concept in depth. Quickly you introduce yourself and sketch the idea in short exciting strokes.

Ding. You reach the lobby. The elevator door slides open. If you said the right thing, Steven Spielberg hands you his card and says, “Great concept. Call me.”

If your pitch didn’t interest him, he says, “Good luck with that,” and then races off to his next meeting.


2

Why Do You Need an Elevator Speech?

Sales start when potential buyers learn about your offering and they’re interested. A good elevator speech helps you create interest.

• It tells people who you are and proclaims how you help.

• It demonstrates to the buyer they’re dealing with a competent professional.

• It opens conversations.

A good elevator speech achieves results when you’re cold‐calling and networking. It even comes in handy when you’re talking to your new neighbor, Bob, who asks, “What do you do?” Many years ago, I was on an airplane and started a casual conversation with the man in the next seat. He asked, “What do you do?” I confidently delivered my elevator speech expecting no more than polite interest. Instead he said, “I buy that. Tell me more.” We continued the conversation. He invited me to call on him and quickly became a profitable account. The experience taught me a lesson I never forgot.

A good elevator speech pays off—often in unexpected places and situations.


3

Tell Me More

You tell prospects who you are and what you do. They respond one of two ways. They say, “Tell me more,” or they say, “I’m not interested.”

Prospects say “Tell me more” when they:

• Need or want your offering.

• Find the benefits desirable.

• Are dissatisfied with their current situation.

Prospects say, “I’m not interested” when they:

• Don’t need or want your product or service right now.

• Don’t care about the benefits.

• Are content with their current situation and uninterested in change.

Relevance Sells

Every single day we’re bombarded by selling messages. We see ads on TV, on billboards, the Internet and in magazines and hear them on the radio. In stores, we pass point‐of‐purchase displays pitching products and our daily mail always includes a slew of offers.

We live in a world where 24/7 someone somewhere wants to sell us something. Once in awhile, an ad for a product or service grabs our attention. When that happens, it’s because we saw or heard something relevant.

Relevance is all about what matters RIGHT NOW!

Why do umbrellas sell on rainy days?


4

Relevance carries a sense of immediacy. It has a direct bearing on our life in the moment. It’s pertinent. It’s germane. When we come face‐to‐face with a relevant message, we care and want to learn more.

Relevance explains why umbrellas sell on rainy days. If the sun is shining, you don’t care about umbrellas because you don’t need one.

If it’s pouring, you want an umbrella to avoid getting drenched. Rain is an immediate problem and you’re interested in a solution now.

Quick Recap A good elevator speech helps you sell, often in unexpected places and situations.

It’s a quick way to tell prospects who you are and how you can help.

When prospects hear your elevator speech, they either say, “Tell me more,” or “I’m not interested.”

They say, “Tell me more,” when you talk about something relevant.

A message is relevant because the prospects wants or needs your offering, likes the benefits, and is dissatisfied with their current situation.

Relevance explains why umbrellas sell on rainy days.


5

What Should an Elevator Speech Say?

The basic elevator speech quickly states:

• Who you are.

• Your position at the company you represent and what the organization does.

• An important benefit with widespread appeal.

This is my elevator speech as president of Thought Transformation. “My name is Linda Bishop. I am the president of a national sales training and consulting company called Thought Transformation. We help companies like yours grow sales through the right combination of tools, training and tactics.”

Let’s break down the speech into components.

My name is Linda Bishop. Who I am.

I am the president of a national sales training and consulting company called Thought Transformation.

My position, the company I represent, and what we do.

We help companies like yours grow sales through the right combination of tools, training and tactics.

One important benefit with widespread appeal—Thought Transformation helps companies grow sales.


6

It’s easy to tell people who you are, your position, who you represent and what the organization does. Since every organization offers many benefits, figuring which one to focus on in your elevator speech is tougher. Choose a benefit based on these criteria.

• It fixes an important problem for the prospect.

• The prospect is motivated to solve the problem now.

• The benefit reflects your competitive advantage. Relate Benefits to Time Bombs Time bombs are problems waiting to explode inside your customer’s office. When they detonate, they create havoc and damage. Mentioning a ticking time bomb often grabs the prospect’s attention. Here are two good questions to ask when identifying time bomb problems.

• If the problem explodes would the prospect’s boss be angry?

• Would defusing the bomb before it explodes make the prospect a hero? If the answer to both questions is, “Yes,” then you’ve identified a powerful bomb.

Quick RecapYour elevator speech states

Who you are. Who you represent and what the organization does. An important benefit with widespread appeal.

Focus on benefits attached to problems that represent ticking time bombs.


7

Problem‐Benefits Exercise Print out this page. Jotting down your thoughts provides insights into creating a benefit statement that’s relevant to prospects and compels them to say, “Tell me more.” Today, my prospect’s top three problems are: 1. ____________________________________________________________ 2. ____________________________________________________________ 3. ____________________________________________________________

Which problem is the worst one? Why? Does this problem represent a ticking time bomb? When the bomb explodes, how much damage will it cause? If the bomb won’t explode in the next month, why would the prospect want to solve this problem today? How can I solve the problem?


8

Once you’ve armed yourself with a solid benefit that many prospects want, script out your elevator speech.

Tell Prospects You Say

Who you are.

Your position, who you represent and what your company does.

An important benefit you offer.


9

How much time should an elevator speech take? Get out the stop watch and time it. Work on a script that takes 20 seconds or less to deliver. Beyond 20 seconds, a stranger who is listening to you talk starts losing interest. Cull every unnecessary word. Be specific. Eliminate acronyms, trade lingo and jargon. Make sure your message is clear and easy to follow. If you continually stumble over a phrase or word, find another way to say it. Words are important, but to maximize their impact be aware people FOCUS FIRST ON VOICE TONE. Practice speaking with confident enthusiasm. Act your heart out and sound friendly. The first time you practice, you may sound stilted or falsely enthusiastic. By the tenth time you practice, you sound polished and professional if you follow Vince Lombardi’s maxim. He said, “Practice does not make perfect. Only perfect practice makes perfect.”

Work hard to sound great and check progress by leaving a message in your own voice mail. Listen to it or ask another salesperson to listen and critique you.

Quick Recap Relate benefits to problems that the customer views as important. Script out your speech. Make it easy to understand. Practice it. Focus on voice tone as well as words. Speak with friendly enthusiasm. Time it and get your elevator speech down to 20 seconds or less.


10

You’re now ready to create a great elevator speech and use it to sell. Summary

• An elevator speech helps you quickly communicate what you do.

• When interested prospects hear your elevator speech, they say “Tell me more.”

• Prospects listen to relevant messages. Relevant messages have a sense of immediacy and matter to customers right now.

• Your elevator speech quickly states who you are, your position, who you represent and what the organization does, and one benefit with widespread appeal.

• Choose a benefit that fixes an important problem. Time bombs are problems waiting to explode. Time bombs with short fuses are the most relevant.

• Script out a message that you can deliver in 20 seconds or less. If you talk past that point, strangers start to lose interest.

• Practice your elevator speech until you sound polished.

• Call and leave your elevator speech as a message in your voice mail to check how you sound.

One last tip . . . If you try your elevator speech for a month and it doesn’t generate enough interest, examine the component parts.

• Are you focused on the right problem?

• Would another benefit be more relevant?

• Is your message too long?

• Is it clear?

• When you deliver your message, are you friendly and positive? There’s always room for improvement if you look for it.

A Thought Transformation Book|Business/Self-Help

Thought Transformation books are written for . . .

Motivated achievers looking for ways to climbto the next level of success.

Readers interested in no-fluff, practical informationthey can apply immediately.

Smart people willing to travel at high speedsup new learning curves.

Learn more. Earn more. Know more. Do more. Take charge of your life and getwhere you want to go.

Motivated achievers looking for ways to climbto the next level of success.

Readers interested in no-fluff, practical informationthey can apply immediately.

Smart people willing to travel at high speedsup new learning curves.

Learn more. Earn more. Know more. Do more. Take charge of your life and getwhere you want to go.

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