One of the hardest parts of launching your own startup is effectively promoting your business and educating your audience on what you do.
After your startup takes off, you should be knee-deep in networking opportunities and attend as many conferences as you can to spread the word of your business. There are many opportunities to showcase your startup in Toronto at events like Startup Tech Unleashed, which attracts new startup founders and industry professionals within the tech community.
Before you attend events like these, it’s crucial to practice and perfect your elevator pitch in order to sell your brand. On the off chance you meet a journalist – you need to be able to communicate what your startup does in a succinct fashion to the media.
Here are some key factors to keep in mind when devising your elevator pitch:
Know your audience:
- Tailor your pitch for each segment of the audience. Who are you communicating with? Consumers? Investors? Partners? Suppliers? Media? Employees? Answer the most relevant 5W’s depending on your audience.
- Immediately highlight the value your startup brings to the industry. Address the problem your startup is solving and for which industry.
Feed a news hook:
- Determine what makes your company cutting edge and be sure to make this clear in the pitch. Put your reporter hat on and figure out what makes your company noteworthy. Here are some news hooks that can make your startup newsworthy: First of its kind, new, unusual, innovation, speed, local and timeliness.
- Ensure you can divulge the business in a couple of sentences. It’s helpful to practice saying your elevator pitch ahead of time to ace your delivery. Depending on the situation, the elevator pitch should stay in the 30 seconds – 1 minute time range.
- If the inspiration around your startup comes from a real life problem or situation, highlight this in the elevator pitch. This is a genuine aspect of your business that the listener may be able to relate with.
Keep it simple:
- Don’t use any technical jargon that is hard for outsiders of the industry to understand. If possible, use well-known references to help explain how the business model works. For instance, we are the Yelp of Instagram.
The next step:
The value of a digital profile:
- If the pitch goes well, naturally the listener will want to check out your website to learn more. Clear and informative websites are necessary to keep interest. Ensure your digital face is fresh, ready and up to date. Make sure the conversion path is clear on your website, there is an obvious call-to-action and an easy to follow sign-up or subscriber option.