One of the most useful skills a business owner can possess is the ability to talk about his or her business in a captivating and succinct manner. That is, to be able to make what is known as an "elevator pitch" and pitch your business in the time it takes to ride an elevator. This could be all the time you get with a potential investor or client to sell your business and the last thing you want to do is launch into a muddled rant about the merits of your company and lose credibility!

A good pitch can help you make a lasting first impression and is a useful networking tool, no matter what industry you are in. Whether it is for gaining equity investors, signing clients or even hiring new employees, it all starts with a winning pitch.

Summarising your entire business down to a brief conversation, that may only last a few seconds, may however seem like an overwhelming task. Here are a few guidelines to help you construct and deliver the perfect pitch:

• Introduction
• Solve a problem
• Product or service overview
• Request action
• Prepare and practice
• Keep it fresh
• Be real

Introduction: Start your pitch by introducing yourself and your title. You should include your role in the company (i.e. founder of JS Consulting) or your particular area of expertise (i.e. specialist investment manager) to add credibility.
 
Solve a problem: The second stage of your pitch, also known as the hook, is where you capture the attention of your audience by asking a question or making a statement. Essentially you are trying to display how your business helps or solves a problem that is relevant to your audience or his or her line of work. Do some research on your target audience so you understand their needs. Follow this with a lead into the product overview; the solution to their problems and the essence of your business.

Product or service overview: In as few words as possible, describe your business, what it does and what differentiates it from similar companies. Stick to a few specific points and steer clear of catch phrases and acronyms that may overwhelm your audience. Also, be sure to explain the big picture outcome to provide perspective on what your business aims to achieve. If you wish to, you can mention the people involved in the company and the kinds of clients that are already utilising your services.

Request action: Once you have summarised your business, make your proposal. Be bold and direct without being forceful. If you are looking for investors, say so, and ask if they would like to meet and discuss ideas. If you are looking for clients, ask them if they would be interested in the services you are offering. You can seek a verbal commitment to do business if they seem keen.

Other considerations in ensuring your pitch is effective include:

Prepare and practice: Make sure you have thought about your pitch and try it out on friends and family so that you are at ease with delivering it. Rather than memorising it word-for-word, understand it logically or as a sequence. Remember, your pitch should be applicable to both a professional and social environment, so try not to be too rigid. Be comfortable enough so you aren't caught out stammering through a script!

Keep it fresh: Just as your business and its environment grows and changes, so should your pitch. Keep up-to-date with current issues and how this may affect your audience and alter your pitch to respond to these changes. Old lines will sound like old news.

Be real: Talk about what you know; address the real strengths of your business. Resist the temptation to exaggerate or over-sell aspects of your business as practiced investors can detect even the slightest hint of phoniness.  Try to avoid standard remarks about being 'customer-focused' or 'uniquely positioned'; stick to the selling points that you know are the strength of your business.  Additionally, don't be afraid to show your passion for your business so that your audience is sure of your commitment and belief.

Follow these simple guidelines to ensure your next elevator ride will not be in vain!