Understanding Elevator Pitch

Explain : Elevator Pitch Elevator pitch is a slang term used to describe a brief speech that outlines an idea for a product, service, or project. The name comes from the notion that the speech should be delivered in the short time period of an elevator ride. A good rule of thumb is that an elevator pitch should be approximately 30 seconds long, with a maximum of 60 seconds. In the financial world, an elevator pitch refers to an entrepreneur's attempt to convince a venture capitalist that a business idea is worth investing in. Generally, a successful elevator pitch will be enough to pique an investor's curiosity and sets the stage for a follow-up meeting. It's during this meeting that the entrepreneur will present the investor with a more formal presentation in the hopes of raising seed capital.

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