How to Hook Anyone With a Product Elevator Pitch

Summary

In this video, Ash Moria explains how to craft a compelling elevator pitch using the Hero's Journey story structure. He emphasizes that the hero in the story is the customer, while the entrepreneur acts as the guide. By framing the pitch to highlight the customer's ordinary life, the challenges they face, and how the product serves as the solution, entrepreneurs can effectively pique interest. Moria provides a fill-in-the-blanks template to structure the pitch and offers an example demonstrating how to communicate a business idea succinctly, encouraging viewers to engage with the content and subscribe for more insights.

Takeaways

• 😀 An elevator pitch is a brief description of your product or idea, aimed at piquing interest quickly.
• 📉 Many elevator pitches fail by being either too solution-focused or overly complex, leading to disengagement.
• 🎬 A compelling elevator pitch should resemble a movie trailer, designed to spark curiosity rather than explain everything.
• 🦸‍♂️ In the hero's journey framework, your customer is the hero, while you and your product serve as the guides.
• 👹 The competition represents the villain in your story, acting as the obstacles your customer faces.
• 📜 Use a three-act structure in your elevator pitch: set context, introduce a trigger, and tease your solution.
• 🌍 Act 1 establishes the hero's ordinary world, setting the stage for change.
• ⚡ Act 2 presents an external trigger that disrupts the ordinary world, highlighting existing problems.
• 🎁 Act 3 teases your unique solution, illustrating how it helps the hero achieve their desired outcome.
• 🗣️ The goal of your elevator pitch is to make the listener want to know more, leading to further conversation.

Q & A

What is the main purpose of an elevator pitch?

The main purpose of an elevator pitch is to provide a quick and compelling description of your product or idea that piques interest and encourages further conversation.

Why do most elevator pitches fail?

Most elevator pitches fail because they either assume too much about the audience or try to cram in too much information, making them sound too solution-centric without context.

How does a good elevator pitch resemble a movie trailer?

A good elevator pitch is like a movie trailer because it doesn't attempt to tell the entire story but instead aims to intrigue the audience enough to want to learn more.

Who is considered the hero in the context of an elevator pitch?

In the context of an elevator pitch, the hero is your customer, not the entrepreneur or the product. The customer is portrayed as an ordinary person who transforms into a hero through your solution.

What role does the villain play in the hero's journey framework for elevator pitches?

The villain represents the competition or obstacles that prevent the customer from achieving their goals. It serves to highlight the challenges the hero faces.

What is the entrepreneur's role in the hero's journey story?

The entrepreneur acts as the guide who helps the hero (the customer) overcome obstacles, leading them toward transformation through the gift of their product.

What are the three acts of the elevator pitch template outlined in the video?

The three acts of the elevator pitch template are: Act 1 - setting the context of the customer's ordinary world; Act 2 - introducing a triggering event that breaks this ordinary world; Act 3 - teasing the better solution that your product offers.

Can you provide an example of an effective elevator pitch?

An example is: 'When entrepreneurs get hit with a killer idea, they often struggle to communicate it. They would normally write a lengthy business plan, but that's outdated. We built a solution that helps entrepreneurs convey their big ideas clearly and concisely in under 20 minutes.'

What is the importance of a unique value proposition in an elevator pitch?

The unique value proposition is crucial as it highlights what makes your solution better than existing alternatives, encouraging the audience to see the potential of your product.

What should you avoid mentioning in your elevator pitch?

You should avoid mentioning the product name or trying to describe it in detail, as the focus should be on the customer’s journey and the transformation your product facilitates.