business plan and elevator pitch difference

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The differences between a business plan, pitch deck and an elevator pitch

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Over the years we encountered confusions between our startup clients regarding whether they should have a business plan before making a pitch deck or if they need one in the first place. So let’s put it like this, the business plan is your house, the pitch deck is your window that shows the indoor beauty and the elevator pitch is your alley to the house.

First things first, you need all three of these materials prepared when you want to start a business. Before we start to talk about the differences between them, let’s go through some basic information.

What is a business plan?

A business plan is a document that contains a detailed description of your business. You will use it as a roadmap for how to structure, run and grow your new business. It is built to store and transmit your plans for the next 1, 3 or 5 years, including the research of the industry,  the competitors. It covers the sales predictions, the marketing strategy and the operational plans.

The document is based on charts, representations of growth and financial strategy, but mainly the information is transmitted through plain text. A common business plan has a length of 10 to 100 pages. As nobody has the patience to go through a 100 pages document you should keep it simple, but well structured.

In the end you are making the business plan for you, to reflect the vision and the direction you are going. After that, the goal of a business plan is to give investors information about your company, to show them how do you plan to use their investment. 

Tip: You should be honest with yourself in your business plan, which is why it’s important to consider challenges and opportunities. If you’ve got a strong idea, let it stand on its merit.

What is a pitch deck?

A pitch deck is a presentation that summarises the business plan and it gives an overview of your company. It is usually made using PowerPoint, Keynote or Prezi as a visual support and used in face-to-face/ online meetings with potential investors, customers, partners or presented in pitch competitions.

The pitch deck contains 10 – 20 slides and should include all the information required, as you may be asked to send it after the presentation. The structure can vary from business to business, but it must include company details, who it serves and why, the size of the market, you added value. 

The goal of the pitch deck is to show investors where you are, where you are going and most important to get a meeting or start a conversation with one about funding you.

If you want to know more about what to put in a pitch deck read

How to create a great pitch deck .

What is an elevator pitch?

As its name says an elevator pitch is a brief description of your business, like a movie trailer, that can be presented during an average elevator ride 10 – 30 seconds. An elevator pitch should be pre – prepared so when the occasion arises you will know exactly what to say.

You can also look at it as a positioning statement. Start with Who do you help , this is also important to set for yourself. Now they are listening to you so you continue with what you help them with .

The elevator pitch can be used in other situations, such as job fairs, networking events, your LinkedIn bio. It is a great way to introduce you to people that you meet as a conversion starter.

The goal of this speech is to be short and spark interest to your elevator ride so they want to know more about your business.

Focus your elevator pitch around “ We are X and we help Y to do Z “

What are the differences?

Basically all three of them have the same content, but it’s a matter of details. You start with the business plan that has everything about the business, then make a more compact version for the pitch deck and finally you create an elevator pitch that has the essence of your business.

The link between the business plan, the pitch deck and the elevator pitch

We talked about the differences, but now let’s see what is the connection between these three. 

As we know the pitch deck and the business plan include mostly the same section and while the business plan is more detailed, the pitch deck offers high level information on some sections ( problem, solution, product, market, team). We can consider the pitch deck a visual summary of the business plan.

The elevator pitch is used without an additional support, but when presenting a pitch deck the first information has the role of an elevator pitch, to catch the attention of the investors for the rest of the presentation. You open the pitch deck presentation with the elevator pitch.

Looking at the big picture we can see that the elevator pitch is included in the pitch deck, which in his turn is included in the business plan.

Download a Free Guide to design your pitch deck

We recommend having all of them prepared. For the business plan you can use all kinds of templates and platforms to build one or having a consultant working with you. The pitch deck should be made with a pitch deck designer as it needs to be compelling, but there are also a lot of tips for how to create one. And for the elevator pitch follow a structure that puts your advantages in the spotlight.  

Hope this helped you to have a clear perspective about what is a business plan, a pitch deck, an elevator pitch, when to use them and what are the differences between them. 

If you already decided that you need to have an stunning design for your pitch deck we are here to make that for you.

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Business Plan vs Pitch Deck vs Elevator Plan

These will be for those looking to secure investor financing; knowing the differences will help smooth the process of moving their business forward.

Matthew started his finance career working as an investment banking analyst for Falcon Capital Partners, a healthcare IT boutique, before moving on to  work for Raymond James  Financial, Inc in their specialty finance coverage group in Atlanta. Matthew then started in a role in corporate development at Babcock & Wilcox before moving to a corporate development associate role with Caesars Entertainment Corporation where he currently is. Matthew provides support to Caesars'  M&A  processes including evaluating inbound teasers/ CIMs  to identify possible acquisition targets, due diligence, constructing  financial models , corporate valuation, and interacting with potential acquisition targets.

Matthew has a Bachelor of Science in Accounting and Business Administration and a Bachelor of Arts in German from University of North Carolina.

• What Is Business Plan Vs Pitch Deck Vs Elevator Plan?
• What Is Business Plan?
• What Is Pitch Deck?
• What Is Elevator Pitch?
• Business Plan Vs Pitch Deck Vs Elevator Plan

What Is Business Plan vs Pitch Deck vs Elevator Plan?

Although they are similar, a company executive’s business plan, pitch deck , and elevator pitch are distinct. For those looking to secure investor financing, knowing the differences will help smooth the process of moving their business forward.

At a high level, the three schemes all describe a company and its plan, albeit in varying detail. Several key differences lead to different formats that serve specific objectives. 

Investors review the business plan to make a final funding decision. For this reason, it is lengthy and text-heavy.

The pitch deck is the preliminary investor presentation. At this stage, we seek to gain investor attention and interest that could lead to funding down the line. Because it is not the final step, this presentation is shorter but still detailed. Lots of imagery is used to convey ideas visually. 

The elevator pitch is the first step; it is meant to spark an initial interest in the company. Because it is the shortest of the three, it hits only on the absolute core ideas. This pitch is completely verbal.

An overall summary of the differences between the business plan, pitch deck, and elevator pitch, respectively:

• Tens of pages vs. a ballpark of 10–20 slides vs. a quick verbal explanation
• Text focus vs. visual focus vs. verbal focus 
• Funding-oriented vs. attention-oriented vs. interest-sparking

Now let us look at each of the three in more detail to truly understand their differences.

Key Takeaways

• The business plan, pitch deck, and elevator pitch differ in length, focus, and goals.
• Business plans are comprehensive (long, text-heavy), pitch decks are concise with visuals, and elevator pitches are ultra-short verbal summaries. Business plan contents cover all aspects of the business in detailed sections.
• The pitch deck uses little text to emphasize important points visually and keeps it succinct.
• Elevator Pitch pitch should be presented in a short time frame, ideally within the length of time it takes for a lift on the elevator.The final few seconds of an elevator pitch should focus on key concepts in order to grab listeners' attention.

What is Business Plan?

A business plan is the most detailed of the three documents and explains everything there is to know about a business. However, the document is commonly lengthy because it is much more comprehensive than both the pitch deck and the elevator pitch. 

Even though the business plan can be anywhere from 10 to 100 pages, it is important to write it with concision in mind. This should not necessarily be at the expense of detail, though.

What exactly is included in terms of content? The business plan is how you plan for your business to both grow and operate in the intermediate future (this can be anywhere from 1 to 5 years). Business plans should ensure that they include the following:

• The Executive Summary:   It is an overview of the entire document. It hits on the key points in each section. An indication of a solid executive summary is whether or not it could stand alone as a separate document. If it could, then it is likely a sufficient summary.
• Business Overview : The business overview should describe some basics about the business. These would include how the business was formed, its legal structure, where it is located, what type of business it is, and the means of conducting business.
• Operational Plan : The operational plan should explain how the business will operate and function. Different teams and their responsibilities should be included.
• Market Analysis : The market analysis details and explains your plans to fulfill customers' needs.
• Products and Services : The section on products and services explains all the products and services being sold, how each product is categorized within the business and its model for generating revenue, and a concise description of each product.
• Sales and Marketing : The overview of sales and marketing will outline pricing and other sales information. This includes why these price points were chosen and why customers will be willing to purchase at that price point. In addition, strategies for reaching customers and driving sales will be described here. 
• Competitive Analysis : In the area dedicated to competitive analysis, competitors in the market are examined. In addition, comparisons of the strengths and weaknesses of the company should be mentioned, as well as a plan to rise above the competition.
• Management Team : The management team section exists primarily to drive trust. It provides reasons why the team is uniquely qualified to tackle the challenge the market presents.
• Financial Plan : The financial plan should be very detailed and leave nothing to surprise. The cost of starting the business and expected costs for the next few years should be included. In addition, it should also cover how these costs are spread and if more funding will be needed down the road. 
• Projections : Finally, projections of financial statements should be presented, including how net income will grow and what the balance sheet will look like in a few years. 

Final tips: When writing, it would be helpful to be realistic with challenges and expectations. Creating a plan that overstates what can be expected will only lead to unforeseen problems. Investors will also likely be able to tell whether or not your expectations are excessive. 

What is Pitch Deck?

A pitch deck is typically created for potential investors’ review. Then, it is put together to begin  conversations  about financing the company.

To best convey the main points of an otherwise lengthy presentation, the pitch deck summarizes a company’s information rather than going into complete detail. 

As denoted in its name, a pitch deck is normally presented in the form of a deck of slides. However, instead of being text-focused, these slides tend to be image-heavy, providing visual support to investors. 

While images should make up the bulk of the content, it could still be worthwhile to include some text with key business information for potential investors’ further review after the presentation. 

We have already established that the full business plan ranges from 10 to 100 pages. In comparison, the pitch deck is much shorter—it is usually between 10 and 20 slides.

What should be included?

Though the content is up to the presenter’s discretion and depends on what best highlights each company, certain topics should be touched upon. 

Value proposition and brand positioning

Revenue model, roadmap, sales, and  marketing strategies, the team and competition, financials as well as plans for funding.

As discussed in greater detail in the elevator pitch section, the value proposition and brand positioning statement answer many simple questions about what the business offers. 

In addition to answering these basic questions, the value proposition and brand positioning section should also discuss the ideal customer and the market as a whole, specifically market sizing.

The revenue model, roadmap, sales, and marketing strategies section should include figures detailing your pricing strategy and how that compares to your costs. What does the rollout of your product or service look like, or has it already begun?

Other questions investors may have that are answered in this section include growth projections and justification for those forecasts. Are prototypes generating lots of interest?

Are there existing products released, and if so, how much traction do they have? Is growth expected to come from new releases or existing products?

Then, the marketing strategy is discussed to address how and why it will expand the business's existing traction and profit expectations.

Moving forward, in the team and competition section, the reason why the business team is best prepared to deal with any challenges the market presents is listed. 

Moreover, the following questions are also considered in this section:

• How does the executive team stack up against competitors?
• What is the team’s competitive advantage?
• Do comparisons present a challenge, or is the team looking to emulate other similar companies?

Finally, when investors have a more complete understanding of the company, the section about financials is presented.

The following questions are typically considered in this section:

• What is the current financial situation of the company?
• What valuation does this lead to?
• Why is the funding needed?
• How will it be used moving forward?
• Is more funding likely to be needed?

Once again, when discussing funding and valuation, it is best to be realistic. Investors will form a valuation opinion themselves anyway.

If the valuations provided by the business match the investors' expectations, it will give the investors the impression that the executive team has a solid understanding of the market. Overreaching estimates will only generate more issues for the company in the future.

What is Elevator Pitch?

Finally, we have the elevator pitch. The elevator pitch is the most summarized version of the three.

Given its name, the pitch should be presented in a short time frame, ideally within the length of time it takes for a lift on the elevator. It should not take more than 30 seconds.

Because an elevator pitch is so short, it is important to be once again concise in conveying ideas. It is, in fact, quite logical to even have a rehearsed pitch in advance to make sure all the main points are touched upon efficiently.

The key is to think of the pitch as a hook, touching on the absolute fundamentals of why the company is an innovative and profitable idea.

What might this include? We can approach it in a few ways; two examples below are through value proposition and brand positioning.

Value proposition

The value proposition asks the key questions:

• Who are we?
• What do we do?
• Why does it matter?

A well-conveyed value proposition should explain why the company exists and demonstrate that your team is internally aligned (meaning that there is motivation towards a clear purpose). 

Beyond just creating interest, the value proposition helps establish a purpose for the business that is more profound than a mere market opportunity.

Communicating this concept will implicitly improve how your audiences perceive the business idea and help drive trust if they want to invest.

Brand positioning

We can also consider the fundamentals of the brand positioning statement:

• Discussing the target market shows to whom your company is relevant and frames your business in a value-focused way.
• The frame of reference further expands upon why your business idea could profit by analyzing how the competitors in the market are meeting market demands. Examining their shortcomings leads nicely to explaining why your brand would stand out. 
• The critical benefit further discusses this idea with an emphasis on the customer. This section should address the following questions: What exactly is offered to customers? Is it something completely new? Or is it a modification of something already offered?
• The final section should include the reasons why your product or service is better than others from a customer's perspective. Does it check all the boxes of customer requirements? Does the company also differentiate itself from competitors in a way that makes it more appealing? Again, these concepts are the backbone of creating trust in both consumers and investors.

Other aspects that can be worth including in the elevator pitch are a brief introduction about yourself (optional) and a conclusion inviting interested investors to contact you (recommended).

Including a little about yourself at the beginning of the pitch may help build credibility with the person listening. Most of the pitch, however, should be about the business idea itself.

Closing the pitch with a call to action helps move the process forward. The goal of the pitch is not to fully sell your idea but to peak interest and lock in a second, in-depth conversation.

Business Plan Vs Pitch Deck Vs Elevator Pitch

A business plan is a document that contains the operational and financial plan of a business and details how its objectives will be achieved. It serves as a road map for the business and can be used when pitching investors or financial institutions for debt or equity financing.

The pitch decks are a visual aid to help businesses attract investors and clients. Understanding the elements of a pitch deck can help you reach your business goals.

The goal of the elevator plan is to capture the audience’s interest so that they want to know more about the idea presented. It assists in expanding one’s professional network and saves time and energy spent conveying ideas. Pitches attract attention and help retain or gain more money in the venture.

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Pitch Deck vs Business Plan: Differences and Which to Use

Table of Contents

Have you ever spent time deciding between creating a pitch deck vs business plan? For startups and new business owners, where every minute counts, it’s crucial to concentrate on activities that deliver the most significant impact.

This blog article demystifies the pitch deck vs business plan, whether you aim to attract investors, secure a loan, or win over partners and clients. We’ll start with pitch decks, followed by business plans, with the goal of helping you choose wisely – so you can spend less time on paperwork and more time building your business.

1. What is a pitch deck?

A pitch deck is a slideshow that concisely conveys your business idea, market opportunity, and value proposition in a presentation format. Also known as a business or investor deck, they are used to quickly present business ideas, products, or services in 10 to 20 slides.

Purpose of a pitch deck

The purpose of a pitch deck is similar to that of an elevator pitch: tell a compelling story to grab the attention of potential investors, partners, or clients.

The goal isn’t to seal a deal on the spot but to spark sufficient interest to secure follow-up meetings and negotiate potential funding.

How long should a pitch deck be?

Your pitch deck should pack a punch, not bore your investors. Aim for 10-20 impactful slides . For complex ideas or specific industries, slightly more might be okay.

The 10/20/30 rule is your friend: make a 10-slide deck that grabs attention. Investors see hundreds of pitch decks a year. Choose quality over quantity – make each slide count!

💡 Related article: How many slides do you need for a 10-minute presentation?

What should be in a pitch deck

Most successful pitch decks follow a similar flow to keep investors hooked. The tried-and-tested 10-slide pitch deck format is a great starting point but be prepared to adjust or add slides for emphasis.

These are the 10 core slides for a pitch deck based on Guy Kawasaki’s 10/20/30 rule:

• Problem slide
• Solution slide
• Market size and opportunity
• Product/service
• Business model
• Competition
• Financials and key metrics
• Ask (funding needs)

Here are additional slides you may include based on specific business and investor preferences:

• Introduction
• Go-to-market (GTM) slide
• Sales and marketing strategy
• Use of funds
• Exit strategy

💡 Learn more about the 10/20/30 rule: How to create a pitch deck (and the 10 slides you need)

Pitch deck examples

Curious how some tech unicorns have pitched their ideas in the early stages? Here are two examples that have proven successful.

✅ Snapchat pitch deck (2013, Pre-seed)

✅ Tinder pitch deck (2016, Seed)

Examples from Best Pitch Decks

2. What is a business plan?

A business plan is a written document with detailed information that acts as a roadmap for your business. A traditional business plan is a formal document that outlines all aspects of your business, including its goals, strategies, market analysis, operational structure, and financial forecasts for the next 3 to 5 years. Most business plans are created in a Word document or report format, ranging from 10 to hundreds of pages long. 

There are other types of less formal business plans used by startups or for internal alignment:

• Lean startup plan/Lean canvas: Summarizes the value proposition and business model into a single page, with a focus on the problem-solution fit.
• One-page business plan: Fits the essential information of a business into one page. Great for quickly testing an idea’s viability or getting immediate feedback.
• Internal business plan: Less formal, designed for use within an organization — for example, a feasibility business plan, operations plan, strategic, or expansion plan.

Purpose of a business plan

Business plans aren’t just for paperwork – they drive action and results. Think of your business plan as a multi-purpose tool that serves several vital functions:

• Attract investors
• Fundraising or securing loans
• Map your strategy
• Provide a strategic roadmap
• Track business progress or provide a performance benchmark
• Win over partners, talents, and potential hires

Components of a business plan

Business plans don’t have a right or wrong format; only different situations call for other formats. You can mix different plan types to prioritize components that directly support your objectives.

What to include in a traditional business plan:

• Executive summary: A concise overview of your entire business plan, highlighting the most critical points.
• Company description: What your business does, the problem it solves, your target market, and competitive advantages.
• Market analysis: Research data like market size, trends, competitors, and customer demographics.
• Organization and management: The business structure, roles, and experience of key team members.
• Products or services: Details on your offer, including features, benefits, pricing, and any intellectual property considerations.
• Sales and marketing strategy: How you plan to reach your target customers (market) and tactics to promote and drive sales.
• Financial projections: Forecasts of your income, expenses, cash flow, and profitability for the next 1 to 5 years.
• Funding request: If you are fundraising, state the amount, how it will be used, and the terms you offer investors.
• Appendix: Include any supplemental information and documents.

💡 Pro tip: Customize your plan! Add, remove, or rearrange sections to achieve your goals.

How long should a business plan be?

Think about your reader and your goal.  Need a detailed plan for a bank loan? That might be 15-25 pages. Want a quick internal roadmap? A one-page Lean Canvas could work. Consider your industry, who’s reading it, and what you need the plan to do.

💡 Pro tip: Choose quality over quantity. Focus on clarity, regardless of length.

How long does it take to write a business plan?

It can take anything from 20 minutes to 20 weeks. The whole process of creating a business plan can be time-consuming (if opting for a long format), and it can also be quick (for example, the Lean Canvas).

The general advice is: Don’t overthink your first business plan. Start simple, move fast, and build as you grow. Business plans aren’t static, so be prepared to refine and expand your plan as the business evolves.

💡 Pro tip: It’s not uncommon to uncover some challenging sections while writing the plan – the key is to show awareness of these issues and ways to overcome them.

Business plan templates

Not sure where to start? Use these example plans and templates from these reputable sources to get you started: 

• SBA.gov: Write your business plan –  Has the traditional business plan and lean startup business plan templates
• SCORE.org – Has business plan templates for a startup , an established business , and the Business Model Canvas
• Bplans has over 550 business plan examples across multiple industries, which you can use for inspiration.

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3. Pitch deck vs business plan: the differences

Now that you understand pitch decks and business plans, let’s dive into their key differences.

• Pitch decks are short and punchy, designed to grab investors’ attention and get you that crucial meeting.
• Business plans are thorough and detailed documents, perfect for in-depth analysis or large funding requests.

💡 Think of it this way: Pitch decks are the attention-grabbing movie trailers that sell the whole project. Business plans are your complete blueprint.

Both documents can serve you, but understanding their differences helps you select the best tool for attracting investment or charting your company’s path.

4. Do you need a pitch deck or a business plan?

In the past, business plans were the standard document to present a business idea to investors. However, simple business plans and pitch decks are increasingly popular, especially in startups.

Here’s how to choose the right tool for the job:

🎯 Pitches and investor meetings

Pitch decks provide a snapshot of your business or idea’s potential to spark interest and secure future investor meetings.

🎯 Early stages or for idea validation

Use a simple business plan or Lean Canvas, as the format forces you to focus on the core problem you’re solving and the solution.

🎯 Internal roadmap and planning

Formal business plans will aid in longer-term strategic planning, or they can be shorter since they are for internal use.

🎯 Complex business model

Create a thorough business plan with intricate details; short plans and pitch decks wouldn’t cut it for specific industries or complicated business models.

🎯 Fundraising, loans, or traditional financing

Banks, investors, and government-funded grant applications often require a detailed business plan. Whether you seek debt or equity funding, angel investors, VCs, and banks need compelling reasons to support your venture.

💡 Pro tip: You’ll still need a traditional business plan for detailed strategy or significant funding!

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5. Conclusion

Pitch decks and business plans aren’t simply documents – they’re essential tools for driving your business forward. Now that you know the difference, consider your current needs. Ready to capture investor attention? Start crafting a compelling pitch deck. Need a detailed roadmap? Begin writing a winning business plan. Use the resources in this guide to get started and put your business on the right track toward success!

When should you write a business plan?

According to research by Harvard Business Review , between six and 12 months after deciding to start a business. For various reasons, crafting a comprehensive business plan either earlier or later doesn’t necessarily impact business success:

• Most startups pivot from their original ideas and plans.
• The time needed to create a thorough plan is better spent on other business activities (at least initially).
• Creating an elaborate plan may distract entrepreneurs from seeing opportunities in real time and responding to real customers’ needs.

Planning is valuable, and entrepreneurs who plan are more likely to start a successful business. However, you don’t need a complex business plan to begin working on your business. It’s okay to create a plan early on but remember; it’s more about being strategic with your time than trying to forecast the future from the start.

What’s the difference between a business plan and a canvas?

They differ in complexity and length. Business plans are longer and more detailed and are typically used to secure funding from investors or financial institutes.

A canvas, Lean Canvas , or business plan canvas, is a 1-page business plan. The Lean Canvas template helps you deconstruct your idea and focus on finding customer problems worth solving without a significant time investment. 

It is popular as a direct replacement for traditional business plans within startups. The canvas can be used for quick and efficient brainstorming of multiple business models in a few hours or less.

How do I turn a business plan into a pitch deck?

Once you’ve done the groundwork of creating a business plan, you can reuse some of the insights, data, and information for a pitch deck. 

• First, extract the core details from the business plan, such as the problem you solve, the solution, the size of the market, team strengths, and financials.
• Translate that information into your chosen pitch deck template (for example, the 10-slide pitch deck ) or use an AI presentation generator tool such as SlidesAI to structure your slides. 
• Add and emphasize visuals. Replace some text with charts, diagrams, and graphs whenever applicable.
• Edit and keep the pitch deck focused and clear. Quality over quantity!
• Get feedback, practice your pitch, and then iterate on the deck until you are ready to show it to investors.

💡 Related article: 5 best free AI pitch deck generators 2024

Is a pitch deck only for investors?

No, while the primary purpose of a pitch deck is to attract funding, it can be adapted for various audiences and goals, such as partnerships, customers (especially enterprise customers), grant applications, startup or pitch competitions, or even for internal alignment within your team.

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Pitch Deck vs. Business Plan: What is the Difference?

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Deciding between a pitch deck and a business plan for your next fundraiser? In reality, both documents play an important part in your fight for the next round. 

• Research shows that a clear, concise pitch deck can increase the chances of securing an initial meeting with investors by up to 72% .
• A business plan reduces internal confusion by 25% by clearly outlining the goals, strategies, and financial projections, leading to a 30% increase in team collaboration .

Both documents require heavy research and are designed to convince investors to back your venture. However, they accomplish it in different ways.

Having raised over $505M in 2023 for startups with our pitch decks and business plans , we’ll walk you through a detailed Pitch deck vs. Business plan comparison and their role in the fundraising game.

What is the pitch deck?

A pitch deck is a 10-20-slide presentation showcasing the potential of your business idea and startup to investors. Briefly and compellingly, it introduces your company, product, market, business model and overall strategy. 

An effective must showcase your market research, traction to date, and a roadmap to where you want to get. No one-sized pitch deck exists, so you can even pitch someone in the elevator .

Think of it as an introductory sales document designed to pique investor interest and encourage further dialogue.

Components of a pitch deck:

• Introduction: Brief overview of your company and its purpose.
• Problem Statement: Clearly define the problem your product or service solves.
• Solution: Describe your product or service and how it addresses the problem.
• Market Opportunity: Showcase the potential market size and target audience.
• Business Model: Explain how your company plans to generate revenue.
• Traction: Highlight any milestones, achievements, or user statistics.
• Market Strategies: Outline your marketing and sales approaches.
• Competitive Analysis: Identify and analyze your competitors.
• Team: Introduce key team members and their roles.
• Financial Projections: Present forecasts for revenue, expenses, and profitability.
• Ask/Investment: Clearly state what you’re seeking from potential investors.

What is a business plan?

A business plan is a 30-100-page document showcasing an in-depth analysis of your business idea to potential investors to convince them to invest. It elaborates on things like:

• Your sales, marketing, and operational plans for growth
• Where your company will be in the next 1,3 or 5 years
• A step-by-step plan of how you’ll get there.

The business plan is the first part of the investor’s due diligence process before finalizing the deal. It lays out more detailed research on your industry and competitors, contains many charts, graphs, and pictures, and is very text-heavy. 

Think of it as a comprehensive blueprint of your venture designed to persuade interested investors to pull the trigger and invest.

Components of a business plan:

• Executive Summary: A brief business overview, goals, and plans.
• Company Description: Details about your business, mission, vision, and structure.
• Market Analysis: Research your industry, market, and competitors.
• Organization and Management: Information about your team, structure, and key personnel.
• Product or Service Line: Description of your offer and its benefits.
• Marketing and Sales: Your strategies for promoting and selling your product or service.
• Funding Request: If you seek funding, outline your financial needs.
• Financial Projections: Projected financial statements, like income statements and balance sheets.
• Appendix: Additional supporting documents, charts, graphs, etc.

What are the differences between a pitch deck and a business plan?

While the business plan and pitch deck give a view of your venture, they serve different goals, reach different audiences, and build the story differently. These distinctions manifest in the length, format, target audiences, and funding stages. 

Length and Format

• Pitch Deck:

Brief and eye-catching 10-20 slides with engaging visuals, like images, charts, and minimal text. Generally highlights critical points, like product or service, target market, business model, and future potential.

• Business Plan:  

Detailed 30-100 page text-heavy document armed with visuals like charts and graphs. It typically emphasizes projected revenue, expenses, and profitability through financial statements and forecasts. The document details strategies for sales, marketing, operations, and human resources, along with a description of team members’ expertise, experience, contributions to the company’s success, etc.

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Targeted Audience

• Pitch Deck: Investors (initial stages)
• Business Plan: Investors (due diligence), internal team

Stages and Objectives

• Pitch Deck: 1. Shines in early stages: Pre-seed, seed, Series A. 2. Captivates investors: Concisely delivers the problem, solution, market, and team.
• Business Plan: 1. Dominates later stages: Series B and beyond. 2. Secures substantial funding: Demonstrates viability and potential return on investment (ROI).

Frequency of use

• Pitch Deck: 1. High Frequency: Used frequently and repeatedly throughout the fundraising process. You might prepare several variations tailored to different investors or stages of funding. Examples: Initial investor meetings, pitch competitions, and conferences seeking investment opportunities.
• Business Plan: 1. Lower Frequency: Typically used once during the later fundraising stages, specifically during due diligence. 2. Focus: Providing detailed information for investors to thoroughly assess your business’s viability.

Pros and cons: Pitch Deck vs. Business Plan

Advantages:

• Comprehensive: This thoroughness is crucial for investors, lenders, and internal stakeholders.
• Strategically complete: Aids decision-making, resource allocation, and risk management.
• Supportive fundraising: Studies suggest that companies with a well-crafted business plan are 18% more likely to secure funding than those without one.

Disadvantages:

• Time-consuming: Requires potential expertise in areas like financial modelling and market research.
• Outdated quickly: Market dynamics and business strategies can evolve rapidly, necessitating regular updates to the plan to maintain its accuracy and relevance.
• It may not be read: Lack of time and poorly structured info can push away the potential investor.
• Concise and engaging: Studies reveal that audiences lose focus after 10-20 minutes of presentations. Pitch delivers a clear and quick message.
• Easy to adapt and share: Adapting the pitch deck for various audiences and situations is simpler due to its brevity.
• This can lead to meetings: Engaging presentations foster positive connections with potential partners and lay the groundwork for long-lasting collaborations.
• Sometimes limited information: By definition, it does not provide the in-depth financial analysis, operational details, and market research needed for comprehensive due diligence.
• Less suitable for later stages: As funding requirements and investor expectations increase, a pitch deck alone may not be sufficient for securing more significant investments.

Which is more important, the pitch deck or the business plan?

There is no one-size answer; in most cases, you need both. The importance of each depends on your industry and fundraising stage. The pitch deck is crucial early on , but investors scrutinise the business plan for details as you progress . 

The pitch deck is vital for visibility. Without it, you may miss opportunities with investors and hinder connections with mentors and partners essential for your startup’s success.

On the other hand, the business plan is crucial to validate everything you’ve outlined in your pitch deck. Investors can quickly spot unprepared founders or unrealistic propositions. While a compelling pitch may secure a meeting, a thorough plan will convince investors to back your venture.

Important: A well-crafted pitch deck often stems from a strong business plan.

When to use a business plan and not a pitch deck

• If you seek debt financing: Banks rely on business plans, emphasizing their importance for loan applications.
• If you fundraise above $500k: Careful planning is crucial for substantial fundraising. Investors will scrutinize your venture, so be thoroughly prepared.
• If you have cooperative ownership planning: A written plan is essential for co-owners to navigate challenges together, staying true to the initial vision while embracing necessary changes.

When to use a pitch deck and not a business plan

• When attracting equity investment: A concise pitch deck is essential to secure funds from venture capitalists, angel investors, or knowledgeable friends and family.
• When looking for networking with potential investors: Crafting a positive initial impression is paramount.
• For pitching opportunities for founders: Explore pitch competitions in the startup community, seizing opportunities for exposure and honing your pitching abilities with a solid pitch deck.
• When seeking co-founders: If you’re looking for cofounders, there is no better way to convey your concept and the value you can bring to the table than through a pitch deck.
• When applying to accelerator programs: A well-crafted pitch deck is typically required. It is a critical asset in the assessment process for entry into the accelerator’s next cohort.

You need both 

Need to grab attention and lock connections? Use a pitch deck. Need to showcase in-depth details and long-term potential? Use a business plan. Both tools are paramount in navigating your fundraising journey effectively.

Want to know how to craft pitch decks that secure investor interest? Check our pitch deck hub to learn all about it straight from the trenches.

CONTENT WRITER

Hey there! I'm Anastasiia, a Content Writer at Waveup. With my marketing expertise and storytelling magic, I turn complex data and industry insights into your startup playbook, making the business world a breeze for you! At Waveup, I work with brilliant folks who make insights a never-ending flow. So, join, read, and enjoy!

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How to Create a Captivating Elevator Pitch

6 min. read

Updated April 30, 2024

For startups and entrepreneurs, a great elevator pitch is a must.

It’s the key to sparking interest in your company, raising money from investors, and networking with business partners. It’s also a handy tool to answer the question, “so what does your company do?”

To help you build the perfect elevator pitch, we’ve brought together all of the resources you need. From a guide on what to include and a free pitch deck template to advice on how to use body language to make your speech more impactful.

Read on to discover what your elevator pitch should include and how to take a pitch from “good” to “great.”

• What is an elevator pitch?

An elevator pitch is usually a short, impactful speech, but it can also be delivered as a presentation or “pitch deck.” Your pitch tells your audience what your business does, who your customers are, and summarizes your key accomplishments. The goal of an elevator pitch is to intrigue the listener, inviting further conversation or inspiring them to take action. 

There are situations where a more extended version of your pitch is appropriate. This longer presentation, sometimes called a “pitch presentation,” typically lasts between 5 and 20 minutes. This extra time allows you to delve deeper into your ideas, products, or services, providing more detailed information while maintaining a clear, concise, and persuasive tone. 

This format is often used in formal business situations like investor pitches, business plan presentations, or when addressing larger audiences at conferences or public speaking events. 

• How to create an elevator pitch

Here are the steps you’ll need to take to create a convincing elevator pitch.

Cover these key components in your elevator pitch

Aside from catching your audience’s interest, there are seven specific things you must address to be sure your audience understands your business.

Get feedback on your business pitch

Are you speaking too fast? Is there vital information missing? You probably wouldn’t know unless someone takes the time to review your pitch. Here’s how to approach getting feedback on your presentation.

Know what you’ll say in your one, five, ten, and 20-minute pitch

You need to have a short and meaningful pitch. You also should be able to tailor your pitch to fit the expectations of different audiences. So, start by defining what should be in your pitch with more or less time.

Create a pitch deck that works without your elevator pitch

If you’re presenting to investors or lenders, you’ll want a visual presentation to compliment your elevator pitch. Ideally, this deck should describe your business so well that it works without a verbal explanation.

Back up your pitch with a business plan

Before you start pitching, you need to have a business plan. If investors or lenders like what you’re saying, they’ll expect you to share a plan that goes into greater detail and backs up what you’re saying.

Tips to nail your pitch and impress investors

There are many factors that go into creating a good elevator pitch. Whether you’re improving your poise, ability to tell a story, or ability to answer investor questions, we have several guides to help strengthen these specific skills.

Things that will take your pitch from good to great

Aside from a well-developed elevator pitch here are nine other things to elevate your presentation and set yourself apart.

How to successfully pitch your business idea to investors

We’ve covered the basic sections you need to include in your pitch. But there are other things to consider covering to convince investors that your idea is worth their time and money.

Avoid these common mistakes when pitching

Don’t want to bomb your pitch? Be sure to avoid these costly mistakes.

How to hook investors with your company culture

Not every investor will be won over by an impressive bottom line and high growth potential. Some care more about the mission or culture of the companies they’re investing in.

What to do if you can’t answer an investor question

Even with the most thorough preparation you’re bound to have questions you simply don’t have a good answer for. Here’s what to do when you can’t quickly present a good answer.

How to improve your body language when pitching

You may have a killer pitch, a captivating pitch deck, and a well-written business plan to back it all up—but if your posture, hand motions, and eye contact aren’t hitting the mark you may fall short.

Learn to harness the power of Pixar storytelling

No one knows how to craft a compelling story better than the creatives at Pixar. While their focus is on animated features that pull the heartstrings—their methods can actually help you develop a more enticing pitch.

How to raise money and pitch as a female entrepreneur

There are numerous roadblocks to small business funding—even more-so for women who must combat a legacy of underfunding due to the predispositions of many investors. Here’s what to prepare for.

Lessons from Shark Tank pitches

When pitching to investors you’re going to hear ‘no’ more than ‘yes’. It’s a necessary process for you to learn from. But, you can also take away some insights from the public pitches shown on Shark Tank.

• Alternative ways to pitch your business

You’re not always going to pitch in a formal or traditional setting. It’s important to understand the different types of pitches you may have to give, including virtual, written, and spontaneous pitches in social settings.

Learn to pitch in social situations

If you’re starting to network or rub shoulders with industry veterans there will likely be an opportunity to pitch your business. It’s not a formal setting and you need to fine-tune your pitch to fit the spontaneity.

How to pitch your business virtually

Meetings over video calls are becoming the norm and that also applies to pitch meetings. While your overall pitch shouldn’t change that much, there are some nuances to doing things virtually that you should consider.

How to pitch your business through email

If you’re struggling to secure time to pitch to investors then you may be better off skipping the meeting and trying to convince them directly in their inbox.

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• Elevator pitch and pitch deck resources

Resources and templates to help you successfully pitch your business idea.

Free investor pitch deck template

Visualize your business pitch and wow investors with this free pitch deck template.

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Business plan template

Back up your pitch with a detailed and investor-ready business plan. Get started with our fill-in-the-blank business plan template.

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Create and share your investor-ready plan, pitch, and financial forecasts with LivePlan.

Kody Wirth is a content writer and SEO specialist for Palo Alto Software—the creator's of Bplans and LivePlan. He has 3+ years experience covering small business topics and runs a part-time content writing service in his spare time.

Table of Contents

• Tips to nail your pitch

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Business Pitch, Elevator Pitch, and the LivePlan Pitch: What’s the Difference?

• November 19, 2021
• By James Gussie

Business pitches can be tricky, especially when you’re not sure what form it should take. The standard elevator pitch is a quick overview of your business and its benefits to the listener without any specific information about yourself or your company. LivePlan Pitch focuses on creating a more personal experience with someone who might potentially want to work with you through an online platform like LivePlan.Live Plan makes this process easier by letting users tailor their description and presentation based on individual preferences and insights into how they work best in that situation.,

The “ business pitch example ” is a quick overview of the three types of pitches. The elevator pitch is a brief, one-sentence description that explains what you do and why it’s important. The business pitch is more detailed and typically contains information about your company, products or service. Lastly, the liveplan pitch is an outline of your entire presentation with bullet points for each slide.

What exactly is a business pitch? Obviously, it depends on who you question and what they’re thinking about at the time. A slide deck, a 20-minute presentation accompanied by a slide deck, a brief chat, or even a strategy summary may be used.

In any case, it’s perplexing, and I’d want to assist in deciphering it. In the context of angel investing, company planning, and business plan contests, here’s how I sift through these many concepts.

Table of Contents

The company’s proposal

When I say pitch, I’m referring to the brief presentation that startup founders give to angel investors or venture capitalists. I’m referring to the quick pitch that startup entrepreneurs give to angel investors or venture capitalists. That’s what I write about in my blog’s business pitch category, and it’s also what David Rose discusses in his TED presentation How to Pitch.

These typically last 10-20 minutes, however they may also be part of a lengthier meeting with many interruptions that can last considerably longer than the pitch itself. The majority of business presentations contain questions and responses that are given right away. Investors may sometimes sit through the whole presentation, but they are more likely to interrupt with questions than to remain silent. As a member of an Oregon angel investment organization and a judge for three intercollegiate and international business plan competitions, I see proposals on a daily basis.

The collection of slides that entrepreneurs use to support their presentation is referred to as a pitch deck in this context. Typically, these are PowerPoint or Keynote files, as well as Prezi or Google Slides presentations. When people say pitch, they usually mean pitch deck. And often company owners prepare two decks: one for the presentation, with mainly visuals and few bullet points, that another, which I call a “leave-behind,” with a lot more words and stands alone for later reading.

LivePlan’s proposal

In my work on lean planning, I suggest include just a short strategy overview in a lean business plan. For most individuals, that’s only a few bullet points, but I suggest utilizing the LivePlan presentation for LivePlan users. And, not to be confused with the business pitch above, I use it as a strategy overview.

I can’t help but mention that LivePlan contains certain elements aimed at assisting with the actual business pitch, which I refer to as the pitch, or investor presentation. For that first kind of pitch, it includes images and summaries that you may export as visuals for your slide deck.

The elevator speech, often known as the elevator pitch, is a brief presentation that is delivered

Every company owner, in my opinion, should have an elevator speech on the tip of her tongue, ready for any situation. Elevator speeches are often seen at renowned business plan contests, which typically begin with an elevator speech event in which entrepreneurs are given a microphone and 60 seconds to speak about their companies. Prizes are often awarded for the finest speeches. You may find footage of them in different places on the web if you conduct a web search.

These are sometimes known as elevator pitches and, on occasion, simply simple pitches, which may be confusing. An elevator speech, in my opinion, is a brief presentation with no props or slides. A typical elevator speech lasts 60 seconds. By Googling for elevator pitch, you may discover a series on the elevator speech that I wrote, as well as many other excellent pieces. And, although I like the word elevator speech, I’ve stayed with the elevator pitch term here on Bplans since we have a number of excellent articles on the topic and I don’t want to change terminology in the middle of a discussion.

Are there any more words that you find perplexing? I’d be delighted to assist you in your search for the correct answers!

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Frequently Asked Questions

What is a elevator business pitch.

A: An elevator pitch is a short high-level description of your business, typically no more than 60 seconds, often delivered in person or over the phone to potential investors.

Is pitch deck the same as business plan?

A: Pitch deck is a marketing tool for companies to present their ideas and plans in an easy-to-read format. Business plan, on the other hand, refers to written descriptions of business ventures that outline how they will operate.

What is elevator pitch in pitch deck?

A: An elevator pitch is a short summary of what your company does. Its meant to be the most important detail you convey about yourself and your business in order to get a meeting with someone who may hire you.

Related Tags

• how should you start the elevator pitch?
• elevator pitch example

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How to Effectively Pitch a Business Idea

• 27 Aug 2020

You’ve identified an underserved need and validated your startup idea . Now it’s time to talk about your business to potential investors. Yet, how do you effectively communicate your idea’s promise and possible impact on the market?

Pitching a business idea is one of the most nerve-wracking parts of any entrepreneur’s journey. It’s what stands in the way between your vision and the financing needed to turn it into a reality. Although daunting, there are steps you can take to ensure a greater chance of success.

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What Makes a Great Pitch?

To make a successful pitch, entrepreneurs must exhibit several characteristics to convince investors to fund their innovative ideas .

Every entrepreneur needs an intricate understanding of their idea, target market, growth strategy, product-market fit , and overall business model . This differentiates your business concept and solidifies the steps needed to make it a reality. The perfect pitch shows investors your proof of concept and instills confidence that they can expect a return on investment .

Check out our video on pitching below, and subscribe to our YouTube channel for more explainer content!

Another crucial component of a successful pitch is understanding the venture capital (VC) ecosystem.

“It’s critical for entrepreneurs to understand the background and motivations of venture capitalists so when entrepreneurs seek them out to help fund their venture, they know what to prioritize in a firm and how to build a strong, trusting relationship,” says Harvard Business School Senior Lecturer Jeffrey Bussgang in the online course Launching Tech Ventures .

To secure funding and support, here are essential steps to ensure your pitch is effective.

How to Pitch a Business Idea

1. know who you’re pitching.

Some entrepreneurs try to get in front of every investor, despite their industry expertise or firm’s investment stage. Consider that, when you accept an investment, it’s about more than money; you enter a partnership. You must perform your due diligence and research potential investors before making your pitch.

When researching, ask yourself:

What industries do they invest in?

A VC firm’s industry focus depends on what the partners’ niche is and where their passions lie. Some firms specialize in a particular sector, such as financial technology (fintech) or education technology (edtech).

For example, Rethink Education is a venture capital fund that invests in early- and growth-stage edtech startups, while Blockchain Capital is dedicated to financing companies innovating in the crypto market. Others are generalists and span several industries.

Knowing the types of companies the firm invests in can help you tailor your pitch and zero in on their presumed priorities.

What stage do they invest in?

If you’re in the earliest stages of business development, you won’t receive growth equity, which is reserved for mature companies that need capital to expand operations, enter a new market, or acquire another business. Before making your pitch, have a rough estimate of the money and resources you need to launch, and then align yourself with investors who can help at that particular stage.

What’s the investor’s track record?

Dig deeper into the investor’s experience and investment history to determine the types of companies they typically finance, the background knowledge they might already have, and whether your personalities will mesh. This information will enable you to modify your pitch and determine if this is the right person or fund to partner with.

“The best venture capitalists become trusted partners and advisors to the founders and team,” says HBS Professor William Sahlman in the online course Entrepreneurship Essentials . “They help recruit key employees. They introduce the company to potential customers. They help raise subsequent rounds of capital. In some cases, they signal that the firm they've backed is a winner, which helps make that assertion true.”

Given the benefits and high stakes, the more you know going into a pitch, the better.

2. Consider How You Present Yourself, Not Simply Your Idea

Although your ideas and skills matter , your personality is equally as important. According to research published in the Harvard Business Review , venture capitalists’ interest in a startup “was driven less by judgments that the founder was competent than by perceptions about character and trustworthiness.”

Investors also want to know they’re entering a partnership with the right people. Jennifer Fonstad, co-founder of Aspect Ventures , acknowledges in Entrepreneurship Essentials that her investment firm “thinks about team and team dynamics as being very critical.”

Investors want to know whether the founders have worked together before, if your startup’s early hires have complementary skill sets, and whether you’ll be flexible, open-minded, and willing to embrace different perspectives.

Think about this as you prepare your pitch. If investors poke holes in your idea, will you get defensive? When they ask for financial projections, will you exaggerate the numbers? Hopefully, your answers are “no”—firms want to partner with founders they can trust who are open to guidance and mentorship—but if you’re second-guessing your reactions, consider what you might be asked and practice your responses.

As Sahlman reinforces in Entrepreneurship Essentials : “Most experienced investors look at the people first and the opportunity second. Even when a team is young and inexperienced, an investor depends on them to make the right decisions.”

3. Tell a Story

When describing your business idea, zero in on the problem you address for your target audience and how you solve it better than the competition. You could do this by presenting a real-life scenario in which you describe the pain point a current or prospective customer faced and how your product or service fixed the issue. This can help engage investors on a personal level and inspire them to see your idea’s potential.

By complementing your spreadsheets and charts with a compelling story, you can paint a fuller picture of your startup’s future and more effectively highlight its business opportunity.

4. Cover the Details

While it’s important to set the stage, you also need to cover the specifics. In your pitch deck, concisely define your value proposition and share a memorable tagline for investors to leave the meeting with.

According to Bussgang in Launching Tech Ventures , every pitch to an investor should contain the following:

• Intro: Focus on answering important questions like who you are, why you’re asking for funding, and what your founder-market fit is.
• Problem: Talk about your ideal customer’s pain point and how you plan to solve it.
• Solution: Explain how your idea is a compelling solution and why it’s better than existing solutions.
• Opportunity and Market Size: Provide your total addressable market (TAM), serviceable addressable market (SAM), and serviceable obtainable market (SOM) through research.
• Competitive Analysis: Understand your unique differences in the market that can help you sustain a competitive advantage.
• Go-to-Market Plan: Clarify how you’re going to reach your customers.
• Business Model: Describe how you’re going to make money.
• Financials: Define what your financial projections are and how you’re going to provide returns for investors.
• The Ask: Detail how much funding you need, how long it will last, and what milestones you hope to achieve.

“VCs will expect entrepreneurs to clearly define the milestones they need to achieve with each round of funding,” Bussgang continues. “Entrepreneurs should know what experiments they will run to reach these milestones and what they expect the results will be.”

5. Show the Roadmap

Although you’re in your business’s early stages, investors want to know how they’ll cash out in the end.

“To truly understand the motivations behind VC firms, remember that they are professional investors,” Bussgang explains in Launching Tech Ventures . “Their objective is to generate the maximum return for their limited partners with a dual fiduciary duty to their investors and the company.”

To clinch your pitch, highlight your exit strategy and the options available.

The most common exit strategies include:

• Acquisition: When one company buys most or all of another company’s shares to gain control of it
• Merger: When two existing companies unite into one new company
• Initial Public Offering (IPO): When a private company issues its first sale of stocks to the public and can start raising capital from public investors

Related: What Are Mergers & Acquisitions? 4 Key Risks

3 Kinds of Pitches for Entrepreneurs

While all effective pitches share foundational elements, you should use different types depending on the scenario. To increase your chances of success, tailor your pitch to your audience and the available time frame.

1. The Elevator Pitch

This is one of the most popular pitches. Use this when you need to communicate their startup’s value in 60 seconds or less.

An effective elevator pitch should be concise, convincing, and convey your startup’s value proposition and differentiators. For tech business ideas, mention the innovative technology that sets your concept apart. At the end, include a call to action, such as the amount of capital required to launch.

2. The Short-Form Pitch

You should portray your business idea’s value to prospective clients and investors as efficiently as possible. This means summarizing the most important elements of your idea in a way that makes them want to hear more. Highlight the market size, how you’ll create barriers for competition, your plan to monetize the business, and how much financing you need.

Short-form pitches can run from three to 10 minutes; if you’re pitching in a competitive setting, note any length requirements. These shorter pitches can pique investors’ interest and earn you the chance to present a long-form pitch.

3. The Long-Form Pitch

Sometimes, you’re fortunate enough to have more than a few minutes to pitch your idea. If this opportunity presents itself, it’s crucial to make the most of your time and address every aspect of your business plan.

“You’re not just trying to start any business,” Bussgang says in Launching Tech Ventures . “You’re trying to create a business that’s profitable, sustainable, and valuable.

Zero in on your story and share a real-life scenario. Detail the market size to illustrate demand and clear examples of how you’ll attract and retain customers, particularly in light of competitors. This will show you’re planning for—and ahead of—future challenges.

You should also have a blueprint for testing product-market fit and early results, along with a detailed monetization plan. Lastly, share your exit strategy and the amount of capital needed to, one day, achieve it. Your long-form pitch should communicate your business concept clearly and concisely, open the possibility for follow-up questions, and capture the investors’ interest.

Consider preparing all three pitch lengths to be ready for any opportunity. It’s important to stay agile so you can modify your pitch to fit specific length requirements.

Landing the Pitch

Every investor prioritizes different data and information. Yet, if you start by choosing the right investor and then align their needs with your proposed market opportunity, value proposition, and exit strategy, you have a chance at landing the pitch.

“In some ways, startup success depends just as much on whether your hypothesis about the future is right, as it does on whether your idea is a good one,” Bussgang explains in Launching Tech Ventures .

As a result, it’s important for you to do your due diligence before pitching your business idea to investors.

If you’re interested in learning more about what investors look for and how you can create value, explore Entrepreneurship Essentials and Launching Tech Ventures , two of our entrepreneurship and innovation courses . Not sure which is the right fit? Download our free course flowchart to determine which best aligns with your goals.

This post was updated on July 28, 2023. It was originally published on August 27, 2020.

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An elevator pitch is a concise, persuasive speech that you can use to spark interest in what your organization does. It’s called an elevator pitch as it is intended to be delivered in the time span of an elevator ride (about 30 seconds to two minutes). This quick, compelling speech is designed to introduce a concept, a product, or yourself, focusing on key points that are engaging and memorable.

Key Takeaways

• Definition and Purpose: An elevator pitch is a brief, persuasive speech used to introduce a concept, product, or individual. The core of a good presentation is its brevity and ability to spark interest, making it a critical tool in business settings.
• Listener Engagement:  The effectiveness of elevator pitches hinges on their ability to engage the audience quickly. Whether it’s a potential investor, a client, or a peer at a networking event, the pitch should be tailored to address the specific interests and needs of the listener.
• Structure and Clarity: A well-crafted presentation focuses on clarity and conciseness. It should cover the fundamental aspects of the idea or product in a manner that is easy to understand and remember.
• Networking Tool: At any networking event, a good elevator pitch can serve as a powerful icebreaker. It’s often the first impression you make and can be more impactful than a business card.
• Sales Strategy Component: While distinct from a sales pitch, an elevator speech can be an integral part of a sales strategy. It serves as a concise summary of what you offer, paving the way for more detailed discussions.
• Adaptability:  Elevator pitches need to be adaptable. They should be refined and modified based on the setting, purpose, and audience to ensure maximum impact.
• First Step to a Dialogue: Rather than being a monologue, an effective presentation should be the opening line of a meaningful dialogue, setting the stage for deeper engagement and opportunity exploration.

An elevator pitch encapsulates the essence of brevity and impact in communication, especially in the business world.

The primary goal of an elevator speech is to pique the curiosity of your listeners, whether they be potential investors, clients, or collaborators. Imagine you step into an elevator and find yourself face to face with someone who could be crucial for your business or career. The presentation is what you say in that brief encounter. The term is also used more broadly to refer to any brief and engaging speech used to introduce a person, a product, or an idea.

A typical 30-second elevator pitch isn’t just a monologue; it’s the opening line of a potentially valuable conversation. It should be prepared in advance but delivered in a way that feels spontaneous and conversational.

Relevance to Different Audiences

Startup entrepreneurs.

Did you know that over 70% of successful startup founders attributed their initial breakthrough to a compelling elevator pitch presented at networking events or chance meetings? This statistic highlights the immense power of a well-crafted presentation in the entrepreneurial world.

In this section, entrepreneurs will learn the art of crafting an elevator pitch that resonates with their listeners, captures the essence of their business, and makes a memorable impression. Whether it’s catching the attention of a potential investor or setting the stage for future collaborations, mastering the presentation is a critical skill for any startup founder.

• Identify Your Core Message: Start by defining the key message of your elevator pitch. What is the one thing you want your audience to remember about your startup?
• Be Concise and Clear: A great presentation is short and to the point. Aim for 30-60 seconds, focusing on the most compelling aspects of your startup.
• Tailor for Your Audience: Customize your pitch for different scenarios. The pitch to a potential investor might differ from that to a prospective partner.
• Highlight Unique Value: Clearly articulate what sets your startup apart. What problem does it solve, and why is your solution unique?
• Practice Delivery: Your pitch should sound natural and confident. Practice it until it feels conversational and engaging.
• Include a Call to Action:  End with a clear call to action. What do you want your listeners to do after hearing your pitch?

In the fast-paced world of startups, an effective elevator pitch can be the difference between a missed opportunity and a successful partnership. It’s not just about what you say, but how you say it. A compelling elevator speech opens doors, creates interest, and lays the groundwork for everything that follows in the entrepreneurial journey.

Business Students

Consider this: a study in business communication reveals that a well-structured elevator pitch can increase the likelihood of investment by 40%. This statistic not only underscores the impact of effective communication in business but also highlights the pivotal role a presentation plays in the articulation of a business idea.

This section is designed to offer business students a deeper understanding of the theoretical aspects of creating an effective presentation. It will delve into the principles of persuasive speech and how these can be strategically applied to communicate a business idea succinctly and powerfully.

• Principles of Persuasion:  Understanding the key principles of persuasive speech, including ethos, pathos, and logos, and how they apply to a presentation.
• Structuring for Impact: Learning how to structure a presentation for maximum impact, starting with a compelling introduction, followed by a concise presentation of the business idea, and ending with a memorable conclusion.
• Audience Analysis:  Emphasizing the importance of tailoring the elevator pitch to the specific audience. This includes understanding the audience’s interests, needs, and the context in which the pitch is delivered.
• Personal Branding: Incorporating elements of personal branding into your personal presentation to create a more relatable and authentic connection with the listeners.
• Feedback and Refinement:  The role of feedback in refining the presentation and the importance of continuous improvement based on listeners’ response and changing business landscapes.

An effective elevator pitch is more than just a quick speech; it’s a fundamental component of business education and a critical skill for future business leaders. It encapsulates the essence of a business idea in a manner that is not only persuasive but also reflective of the speaker’s understanding and passion for their proposal.

Imagine a scenario where a small business owner attends a local industry event. With just a well-crafted elevator pitch, they capture the interest of a key influencer, leading to a partnership that significantly expands their business reach. This is not an uncommon story in the world of small and medium businesses (SMBs), where an effective presentation can indeed open new doors and create unforeseen opportunities.

Set Expectations: This section is dedicated to SMB owners, emphasizing the importance of networking in their business growth and the role an elevator pitch plays in this context. It provides guidelines on crafting a pitch that not only communicates the business essence but also resonates with the audience in various networking scenarios.

• Understand Your Audience:  Tailor your presentation to suit the interests and needs of your specific listeners. Whether it’s a potential partner, customer, or investor, the pitch should speak directly to their concerns and interests.
• Highlight Your Unique Value: Clearly articulate what sets your business apart. This could be your unique service, product innovation, customer approach, or business model.
• Integrate with Digital Platforms: In today’s digital age, incorporating elements that align with social media strategies can be beneficial. Mentioning how your business engages with customers online can be a key component of your pitch.
• Keep It Conversational: While your pitch should be well-prepared, it needs to feel natural and conversational. Avoid jargon and focus on making a genuine connection.
• Practice and Refine: Regularly practice your presentation and refine it based on feedback and the evolving landscape of your business and industry.

An elevator pitch is more than just a succinct description of your business. It’s a networking powerhouse, a tool that, when used effectively, can open new avenues for growth, collaboration, and success. Its ongoing value lies in its ability to make a strong, lasting impression in a short span of time.

Elevator Pitch: Enhanced by Business Plan Development

An elevator pitch is not just a standalone tool; it’s significantly enhanced and refined when aligned with a well-developed business plan. Drawing from the principles outlined in the “Business Plan Document Development” document, we can see how various sections of a business plan contribute to crafting a more effective presentation.

• Company Description and Core Business Model:  A good presentation effectively summarizes the core elements of your business model and company description. It concisely communicates the value proposition, target customer segments, and key activities, which are all detailed in the business plan.
• Products and Services: Your business plan’s product and service outline informs your presentation by providing clarity on what you offer. This detail helps in crafting a pitch that not only introduces your business but also highlights the unique benefits of your products or services.
• Market Analysis:  Understanding your market, as detailed in your business plan, allows you to tailor your elevator pitch to specific audiences at a networking event or in a sales meeting. This knowledge enables you to emphasize how your business addresses market needs and stands out from competitors.
• Marketing and Sales Strategies: The marketing and sales strategies in your business plan can help shape your presentation into an effective sales pitch. Incorporating key marketing messages and sales tactics into your pitch ensures consistency across all communication channels.
• Management and Financial Projections: Details about your management team and financial projections can enhance your presentation by adding credibility and demonstrating long-term viability, especially when pitching to potential investors or partners.
• Alignment with Business Goals: A successful elevator pitch aligns with the broader goals and vision of the business, as laid out in the business plan. This alignment ensures that your pitch not only introduces your business but also conveys its future direction and potential.

The development of an elevator pitch is deeply interconnected with the creation of a comprehensive business plan. A well-crafted business plan provides the foundational elements necessary for a good presentation, making it not just a brief introduction but a powerful summary of your business’s most compelling aspects. It’s like a business card for your company, providing a snapshot that invites deeper engagement.

Frequently Asked Questions

• What is an elevator pitch and when should I use it?

An elevator pitch is a brief, persuasive speech that succinctly describes a product, service, or organization to spark interest in your listener. The term originates from the idea of being able to convey your message in the short span of an elevator ride. It’s commonly used in networking events, interviews, and business meetings – any scenario where you need to introduce your idea quickly and effectively.

• How long should an elevator pitch be?

The ideal presentation should be no longer than 30 seconds to a minute. The key is to make it long enough to cover the essential points but short enough to maintain the audience’s attention.

• What are the key components of a good elevator pitch?

A good presentation should include a clear introduction of who you are, a brief description of what you do or what you’re offering, the unique value or benefits, and a call to action or a request. It should be engaging, memorable, and tailored to your listeners.

• Can elevator pitches be used for job interviews?

Absolutely! In job interviews, elevator pitches are a great way to succinctly present your background, skills, and professional aspirations. It’s an effective way to stand out and give the interviewer a clear picture of why you’re a suitable candidate.

• How can I practice and improve my elevator pitch?

Practice your presentation in a variety of settings and with different people to get feedback. You can also record yourself to evaluate your delivery and make improvements. Regular practice will help you become more comfortable and confident in your pitch.

• Is it necessary to have different elevator pitches for different audiences?

Yes, it’s beneficial to tailor your presentations to different audiences. Each listener has different interests and pain points, so customizing your pitch can make it more effective and relevant.

• What is the difference between an elevator pitch and a sales pitch?

An elevator speech is a brief overview meant to engage and interest your listeners, while a sales pitch is usually longer and focuses on persuading the listeners to make a purchase or investment. The elevator pitch can be seen as the starting point that might lead to a more detailed sales pitch.

• How do I know if my elevator pitch is successful?

A successful presentation typically results in the audience wanting to know more about you or your proposal. It could lead to a follow-up conversation, a request for a business meeting, or the exchange of contact information.

Related Terms

• Pitch Deck : A pitch deck is a presentation, often used in conjunction with an elevator pitch, that provides a more in-depth look at a business, product, or idea. Typically used in formal settings like investor meetings, a pitch deck contains detailed information, including business models, growth projections, and market analysis. While an elevator pitch is a brief introduction, the pitch deck allows for a comprehensive presentation of your business proposal.
• Value Proposition : The value proposition is a fundamental component of both a strong elevator pitch and a business strategy. It succinctly describes the unique value a company or product offers to its customers, distinguishing it from competitors. A compelling value proposition is often the core message of an elevator speech, as it quickly communicates why a customer or investor should be interested.
• Unique Selling Proposition (USP) : The USP is a specific benefit or feature that makes a product or service stand out in a crowded market. It’s what makes your offering unique and is a critical part of an effective presentation. A well-articulated USP in an elevator pitch can quickly grab the attention of your audience and make a memorable impact.

Also see: Pitch Deck , Value Proposition , Unique Selling Proposition (USP)

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Business tips

11 actually great elevator pitch examples and how to make yours

There's a trope in late '90s movies where a motivated, ambitious main character does everything they can to get on the same elevator ride as the CEO of some powerful company.

It usually ends the same way. Our protagonist makes a nervous, fast-paced speech that the CEO ignores while repeatedly pressing the elevator button, and we get a five-second scene with sad music of our main character watching them walk away.

That nervous, fast-paced speech is an elevator pitch example—a bad one, because otherwise, those movies would be nine minutes long and uninspiring. In the real world, an elevator pitch can make a powerful impression and pave the way for business ventures, employment opportunities, and networking. It won't get you a corner office and a fancy title one week into your new job, but it can be an important step in the right direction. 

To highlight that difference—and to really dismantle "The Pursuit of Happyness" as a plot—I've put together some elevator pitch examples and a guide on how to write one that actually works.

Table of contents:

What is an elevator pitch?

An elevator pitch is a concise speech in which you introduce yourself and a few key points about what you're pitching, whether it's to acquire investors, promote a product, advertise a business, or even sell yourself as a potential employee. If it takes longer than a minute to get the point across, it's getting too long.

You're not trying to convey your entire business strategy or all your selling points. Your goal here is to raise interest, make a connection, and facilitate an opportunity for business in the future.

Let's say you're in the fintech industry and are attending a networking event full of bank representatives and decision-makers. Instead of spending an hour going through your company's history and how it's aiming to be carbon-neutral by 2157, you'd find more success introducing it concisely, pointing out one or two key features and how they could serve your audience's interests. 

Components of an elevator pitch

The pitch begins with a hook to draw your audience in, veers into the value you offer, provides some proof to support your statement, and wraps it all up with a display of what makes you different.

It's relatively easy to incorporate these elements into a short pitch. The difficulty lies in choosing a good hook and phrasing your proposition in a way that appeals to the other side of the conversation.

The hook: This element doesn't need to be fancy or complicated. Make it simple and get straight to the point. For example, if you're pitching a time management tool, your hook can be a personal story like: "When I first started my business, it felt like there was too much to do and not enough time to do it." It can also be a statistic. If you're pitching an online collaboration tool, your hook can be something like: "73% of all teams will have remote workers by 2028."

The evidence: The person you're talking to may be nodding, but that doesn't necessarily mean your point is getting across. Some proof of past success or stats that speak to your success could make that nodding a lot more genuine.

The differentiator: Let them know that you're different—that your product or service isn't just another iteration of what came before. You get brownie points for originality and not quoting any movies.

11 elevator pitch examples done right

I rewatched "The Pursuit of Happyness" to see if there was anything I could salvage, but all I walked away with was frustration at the misleading lesson that passion can overcome anything. Passion cannot, in fact, overcome a busy decision-maker who can't wait for you to stop talking.

If you're at all like me, you'll find the following examples a much better use of your time.

1. Startup pitch example

Everyone's got ideas for [shared goal] . But ideas aren't enough.

We took [shared goal] and turned it into a reality.

We developed [solution] at [company name] that's [list of qualities] . We made it possible for [target audience] to [shared goal] .

What sets us apart is our [differentiator, followed by brief overview] .

If you're passionate about [high-level goal] and interested in [benefit of collaborating with you] , let's connect.

This elevator pitch example demonstrates how to approach potential business partners and investors with a clean energy project. The hook is simple. It leans on the issue and the harsh reality of how little the world does to achieve utopian sustainability. Then it introduces the solution as the company's proactive effort to change the status quo. It pitches efficiency, reduced costs, and access to a larger customer base. Finally, it addresses how ease of use sets the solution apart from the competition and invites further collaboration. 

This example is ideal for startups in that it focuses more on the product, what makes it unique, and the features that set it apart, rather than the company's past achievements, success stories, or revenue metrics. It can easily be used to pitch investors and potential clients alike.  

You can follow this example by making the problem the centerpiece of the hook. Open with the issue, and position your company's service or product as the solution.

2. Job seeker pitch example

It took me [period of time] to [achieve goal] .

It's always been my priority to deliver [high-level result] , but I want to put my [expertise] to use making [high-level goal/impact] .

At [company name] , I [past experience] that [measureable results] .

I love what I do. But I [differentiator, high-level goal] .

If you're looking for a [position/title] who's [differentiator] , let's chat. I'm eager to explore how I can help your organization achieve its [field] objectives.

Since tropes are only a good idea when I propose them, I've decided that our job seeker would be making a pitch to GreenCorp, the company from our previous example. Will Smith will not be playing this role.

In this example, the author of the pitch isn't trying to sell a company or a product; they're trying to sell themselves. The hook addresses their background, expertise, and goals. It then veers into past performance results and highlights the key skill set. The uniqueness factor here speaks to GreenCorp's mission, showcasing that the author shares the company's grand goals, empathetic mindset, and desire to help build something positive. 

If you're ever job hunting, open your pitch with a concise and direct overview of your background, share your most impressive achievements, and do your research into the company you're pitching.

3. Sales pitch example

Most people [relevant statistic, followed by explanation] . 

At [company name] , we've taken the [pain point] out of the equation. 

Our [products] are designed for [value proposition] .

They're more than just [product] . They're [differentiator, followed by supporting evidence] . 

We're not just salespeople; we're [differentiator] .

So, are you ready to find [product selling point] ? Let's [CTA] .

In this example, a guitar shop is pitching its unique guitar design to potential customers. It recognizes a very common problem and ties it to a feeling that most guitar enthusiasts know all too well: giving up too soon. It later positions the author as an expert and fellow musician and utilizes customer reviews as supporting evidence.

4. Networking pitch example

I'm a [position/title] at [company name] , and I've worked on [past experience] . 

Over the past [period of time] , I've had the privilege of working with diverse industries, from [industry] to [industry] , and what truly excites me is [shared interest] . 

I'm here to connect with other professionals who share my enthusiasm for creative and innovative [field] ideas. I really want to explore new [differentiators and shared interests] .

Let's connect on [communication channel] . I have quite a few compelling [field] resources to share and talk through.

This networking pitch resembles the job seeker pitch with one major difference: the audience shifts from an employer to a colleague. The objective changes, and that affects the entire approach. 

Ahead of your next networking event, tailor your pitch so that it speaks to your expertise and knowledge without going into too much detail.

5. Investor pitch example

At [company name] , we [business concept offer] , plain and simple.

We [value proposition] .

Our portfolio contains [supporting evidence] .

Why us? Well, we [differentiator] .

We roll up our sleeves and get involved. 

We're currently prospecting [target audience] to join us on our journey. If you're ready to be part of the next [field] disruption, let's talk about how [company name] can help.

Investors have heard it all a million times over. It's why their faces are so hard to read—set in unimpressed silence. So it's best to make your hook short and to the point. "We do X to achieve Y" can be a breath of fresh air when your job is listening to entrepreneurs pitch their ideas five days a week.

In this example, YZTech Ventures aims to secure investors for promising companies. The hook is straightforward and simple, slowly veering into an overview of the company and why it works.

6. Nonprofit pitch example

Every day, [pain point] .

[Company name] is working to change that.

We're a nonprofit dedicated to [high-level goal] . We've already provided [supporting evidence/achievements] .

We don't want to treat the symptoms; we want to face the root cause of [pain point] . But this will be a losing battle if we're fighting it on our own.

We're always looking for individuals who share our vision and drive to build a better world where [high-level goal] .

If you're ready to make a difference, let's discuss how you can be part of the solution.

Empathy is the name of the game here, and charities and nonprofits can use it as a unique selling point. The good news is there's very little risk of doing this wrong. The example outlines the cause, its aim, and the efforts being made to find a solution. 

If you're pitching a nonprofit or a charity to potential donors, lean heavily on the charity's message and accomplishments.

7. Personal branding pitch example

I'm [name] , and I'm a dedicated [title] . I've helped [past expertise and achievments] .

I do what I do by [value proposition, followed by differentiator] .

I'm here to [offered value] .

There's " [position] " in the title, but I'll be [differentiator] .

Let's schedule a meeting and discuss what you can do.

Personal branding comes into play when you're pitching yourself, the individual. Just as companies share their unique idea, proposition, and values, the life coach does the same at a personal level. 

If you're ever writing a personal branding pitch, approach it as you would a business. The key difference is to showcase your values and what makes you unique as a person rather than as a corporate entity.

8. Product launch pitch example 

I'm very excited to share with you [product selling point] .

At [company name] , [products] aren't just a [basic nature of product] . We see them as a game-changer in [selling point] .

This is why we developed our [product] , a cutting-edge [product overview] .

Imagine all of your [value proposition, followed by key features] .

Our product has already received rave reviews during beta testing, with users reporting [survey results] .

[Product] is now available for preorders! [CTA].

This example focuses less on the company and more on the newly revealed product. The new release speaks for itself and the business at the same time.

The hook immediately positions the product as the future or "the next best thing." The pitch dives into what makes the new product unique, utilizing a hypothetical to paint a picture of what it can achieve.

If you're writing a product launch elevator pitch, focus on the product and let it speak for the company.

9. Rebranding pitch example

We've done great things as [company name] . We've helped businesses [services and past achievements] .

We've since been on a journey of transformation, and it's time for a fresh start.

Our company has grown, adapted, and innovated in response to changing market dynamics. We've [outlined change] . Now, [company name] is about to become [new company name] .

Why the change? We've rebranded to [rebranding reasons] .

With [new company name] , you can expect the same quality, expertise, and dedication you've come to trust. But now, we're adding a fresh perspective and a dynamic spirit to our brand.

We invite you to join us in this exciting phase of our journey. [New company name] is ready to [service/value proposition] .

Let's schedule a meeting and explore how our renewed brand can better serve your evolving needs.

In this example, the hook immediately delivers the reasoning behind the change. 

Instead of a value proposition, the pitch offers an assurance that the rebranding won't have detrimental effects. It's designed to address stakeholders and clients as well as provide context.

10. Consulting services pitch example

At [company name] , we specialize in [value proposition] .

With a team of seasoned experts in [field of expertise] , we've successfully guided organizations to [high-level goal] .

Our approach is all about partnership. We take the time to deeply understand your unique market and audience. From there, we [differentiator] .

[Company name] can be the catalyst for your business's transformation. Whether you're looking to [goal] or [goal] , we're here to help.

Let's schedule a virtual meeting to discuss where your company stands and where we can take it.

This pitch is designed to attract clients for a consulting service. It takes a collaborative tone in its approach and focuses on areas of growth that pretty much every decision-maker worries about. It makes the solution the centerpiece of its hook instead of the problem, and goes on to briefly outline how the firm's process is structured. 

11. Technology solution pitch example

[Relevant statistic].  

That's how it goes for your [pain point] .

Imagine you didn't have to worry about [pain point] .

Our [product] is designed to enhance [process] . We help businesses [value proposition] .

One of our recent success stories includes helping a [supporting evidence] .

The thing is, [differentiator] ; we make sure our [product] is specifically customized for your organization's needs. 

Are you available to meet next week for a personalized demo?

In this example, the hook is a statistic that lays the foundation for the problem and the value proposition. It's a powerful hook that captures the audience's attention and helps you transition into what you really want to say.

How to write an elevator pitch

You can be an optimist and decide to improvise an elevator pitch. But you'll likely end up taking too many pauses under the guise of sipping your water, and stumbling over your words mid-pitch might waste a precious conversation.

It pays to be prepared, and writing an elevator pitch beforehand can make a big difference.

1. Outline a clear objective

Your objective will help you pinpoint the information you want to mention in your pitch. 

Tip: Establish success metrics relevant to your objective. Investors will want to know how much revenue your business can generate, while potential clients will want to know the benefits of your product or service. Make sure your success metrics speak to your audience's concerns.

2. Define your audience

One speech won't work across the board. Hollywood says the up-and-coming manager likes to be impressed with a Rubik's cube, while the CEO likes to hear your heartfelt speech about how much this job means to you and how you're expertly overcoming odds. 

Both those things are wrong, but the point remains that identifying who your listener is and what matters to them is a nice way to tailor your pitch so that it speaks to their concerns, needs, and bigger pain points. The more you resonate with your audience, the more impactful your pitch will be, and the closer you'll get to a tearful Will Smith movie ending.

Defining your audience goes beyond knowing the name and nature of what might make a potential client. 

Tip: Conduct in-depth audience research by diving into your chosen market, competitors, user data, and digital marketing analytics. Then comb through that information to define your audience's pain points and how you're uniquely positioned to address them.  

3. Craft a hook

You know what you want to say and why. Now you need an opening statement—a hook that grabs their attention and gets them invested in the rest of your pitch. You want to set the stage for the elements that come next. Make it clear and engaging, but keep it concise. The goal here is to get an attentive listener, not a bored one.

The hook needs to spark the audience's interest. You need to speak their industry's language, show knowledge and expertise, and put your audience research data to good use by pointing out the difficulties and issues they face.

Tip: Use a personal story, a statistic, a fact, or an interesting hypothetical to draw your audience in.

4. Explain your value proposition

Once your audience is paying attention, it's time to dive into the proposition and the value within. What do you and your idea bring to the table? What problems do you solve, and how does that make your listener's life better? How does your solution differ from those they've heard pitched a thousand times before?

Point out the differentiating factors that make you and your business unique, whether it's the groundbreaking tech you've patented or the better pricing options your competitors can't keep up with. 

Tip: Write down all the aspects that make your business different, and choose the most compelling ones for the pitch.

5. Support your pitch with evidence

Who doesn't like real-life measurable data? Well, Hollywood doesn't, but that's just because no amount of Hans Zimmer music can make your 325% ROI cinematically engaging. You can be confident that your audience will want to hear success stories that support your proposition.

Have a few successful case studies from former and current clients ready to drive the point home and turn a semi-interested listener into an engaged party.

Tip: Draw on your own expertise, and use performance statistics and relevant metrics from previous projects. 

6. Keep it concise

It's called an elevator pitch for a reason. You have under a minute to get your entire pitch across to a busy decision-maker who doesn't have all day. Cut the fluff, and only say what you feel certain will convince your recipient to take your side.

Tip: Practice reading your pitch out loud in the mirror. Use a timer to measure how long it takes to deliver it comfortably.

7. End with a clear call to action

Since the point of an elevator pitch is to generate interest, you'll want to end it with a clear call to action—one that evokes a response and maybe a more in-depth conversation.

If you're pitching a service, you can offer to schedule a meeting to further outline your services and how they can help the listener. If you're pitching a product, you could offer to schedule a demo to prove it can improve their business. Get creative here, and aim to turn that interest into a meeting.

Tip: Lead your audience to connect with you beyond the pitch. Schedule a meeting or a coffee chat, exchange contact information, and make sure there's room for a longer discussion.

8. Prepare to answer questions

You can't just deliver your pitch and then hit the open bar at the networking event. Be ready to answer questions.

Questions at this stage mean your listener is intrigued, curious, and interested. At this point, feel free to provide as much context in your answers as you'd like. The elevator pitch has already ended, and it served its purpose. Go in-depth and provide context.

Tip: Write down a few questions based on your own market research. Ask yourself what your customers, investors, and audience might be curious about. Prepare your answers so you're never surprised.

Make a unique first impression

Opportunities are fleeting, especially when businesses are launching every day. In an oversaturated environment, an elevator pitch can help you make an impression that lasts. And who knows, you might just have what it takes to inspire a 50-million dollar movie that Will Smith can "misty-eye" his way through.

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Hachem Ramki

Hachem is a writer and digital marketer from Montreal. After graduating with a degree in English, Hachem spent seven years traveling around the world before moving to Canada. When he's not writing, he enjoys Basketball, Dungeons and Dragons, and playing music for friends and family.

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Pitch Deck vs Business Plan — Which One Do You Need?

Uncover the differences between a pitch deck and a business plan and discover which is essential for your startup. Learn and create with PitchBob.

In this dynamic world, where ideas can spark revolutions and dreams become realities, two essential companions await your journey: the pitch deck and the business plan. These tools aren’t just documents but the wind beneath your entrepreneurial wings. Let’s set sail into the world of pitch decks and business plans, unraveling their magic and discovering when to wield their power.

Imagine standing at the helm of a ship, gazing at the uncharted waters ahead. Your startup is that ship, and at your disposal, you have instruments that can guide it through the unpredictable currents of the market. These instruments are the pitch deck and the business plan — crafted to impress and chart your course with purpose and strategy.

What is a Pitch Deck?

A pitch deck isn’t just a collection of slides; it’s the vibrant tapestry that weaves your startup’s narrative. Visuals, text, and passion converge to create a captivating story. Think of it as your startup’s cinematic trailer, offering a sneak peek into the adventure you’re embarking upon. It’s not just about presenting facts; it’s about evoking emotions and igniting curiosity.

When you’re at a startup event surrounded by potential investors and decision-makers, it is your chance to condense your startup’s essence into a visually striking, emotionally resonant package. The pitch deck shines brightest in scenarios where time is short, attention spans are fleeting, and impact is paramount.

What is a Business Plan?

Now, let’s steer our ship toward a different horizon. Imagine a comprehensive map that not only outlines your journey but also details every landmark, every challenge, and every resource needed. This map is your business plan — a strategic document that transcends mere ideas and dives deep into strategy, operations, and financial projections. It’s the blueprint that guides your ship through uncharted waters.

Where your startup has gained some traction, you’re no longer just presenting an idea. You’re showcasing a vision backed by research and planning. This is where the business plan takes center stage. The business plan becomes your guiding star when seeking substantial investments, forging partnerships, or outlining your startup’s long-term trajectory. The document demonstrates your commitment, knowledge, and foresight to potential investors and stakeholders.

Main Differences Between Business Plan and Pitch Deck

Let’s pull out our magnifying glass and explore the nuances that set these two powerhouses apart:

1. Purpose and Usage:

• Pitch Deck: The pitch deck is akin to your startup’s captivating movie trailer — a visual and concise introduction that sparks curiosity, leaving the audience eager to learn more about your venture. It’s your chance to pique interest and create a memorable initial impression that lingers.
• Business Plan: In contrast, the business plan is your startup’s comprehensive screenplay. It delves deep into the plot, character development (or market analysis), and intricate details of your venture’s journey. This document captures attention and provides a comprehensive roadmap for potential investors, partners, and your internal team.
• Pitch Deck: Like a thrilling teaser, the pitch deck is succinct, comprising a carefully curated collection of 10-15 impactful slides. Each slide is a trailer frame, revealing essential plot points of your startup’s story.
• Business Plan: In-depth, the business plan reigns supreme. It stretches across 20 to 50 pages, meticulously laying out every scene of your startup narrative. Your comprehensive manuscript covers everything from your startup’s origin story to its grand finale — the financial projections.

3. Audience Focus:

• Pitch Deck: The pitch deck is tailored to a bustling audience, including potential investors and partners. They have limited time, seeking a snapshot of your startup’s possible and unique selling points. The deck’s visuals and succinct content aim to capture their attention swiftly.
• Business Plan: Here’s where you zoom in. The business plan caters to investors, potential partners, and your internal team. It invites them to explore the finer nuances of your startup universe — the market analysis, the competitive landscape, and the intricate strategies that will propel your venture forward.

4. Creation Process:

• Pitch Deck: Crafting a pitch deck is a delicate dance of creativity and strategy. It’s about weaving compelling visuals, impactful messaging, and the right balance of information. Each slide should be visually appealing, grabbing attention and guiding the audience through the story.
• Business Plan: Assembling a business plan is akin to preparing an epic saga. It requires meticulous research, strategic planning, and attention to detail. Your business plan showcases your commitment to realizing your startup’s potential, demanding a systematic approach to ensure each detail is accurate and well-structured.

Pitch Deck vs. Business Plan — At What Stage Will You Need Them?

As you journey through the startup landscape, timing is everything. Knowing when to whip up your pitch deck and business plan is essential for a delectable startup recipe, just as a chef adds ingredients at precisely the right moments. Let’s break it down, shall we?

When Do You Need a Pitch Deck?

Imagine you’re at the starting line of a grand marathon. The gunshot goes off, and you sprint to capture attention, make connections, and spark interest in your startup. This is where the pitch deck becomes your secret weapon. In the early stages of your venture, when your idea is ripe with excitement and potential, your pitch deck steps into the limelight. Think of it as your startup’s dazzling overture — a concise yet impactful introduction that beckons investors, partners, and decision-makers to notice.

You’ll want your pitch deck ready when you’re:

• Introducing your startup idea at networking events, pitch competitions, or investor meet-ups.
• Seeking initial funding to transform your idea into a reality.
• Elevating your startup’s visibility and attracting potential collaborators.

When Do You Need a Business Plan?

Now, picture your startup as a mighty oak tree. It began as a tiny seed, and now it’s growing tall and strong, casting its shadow across the industry. But as it grows, it requires a well-thought-out plan to sustain and nurture its growth. Enter the business plan. When your startup has evolved beyond the ideation phase and is gearing up for significant growth, that’s the cue for your business plan to take center stage. It’s not just about capturing interest; it’s about showcasing your startup’s depth, potential, and strategic prowess.

It’s time to unleash your business plan when you’re:

• Seeking substantial funding from investors who want a comprehensive view of your venture’s future.
• Navigating partnerships and collaborations that require a detailed roadmap.
• Planning the subsequent phases of your startup’s growth and expansion.

How Can PitchBob Help to Create Pitch Deck and Business Plan?

Hold on to your compass because we’re introducing you to a game-changer — PitchBob! Imagine a platform where creating pitch decks and business plans is efficient and creative. PitchBob empowers you with customizable templates, user-friendly tools, and the freedom to infuse your unique voice into your documents. Whether you’re aiming for elegance or innovation, PitchBob has you covered.

In a world where startups rise like constellations, your pitch deck and business plan are the guiding stars that illuminate your path. They’re not just documents^; they’re your dynamic ensemble, your tag team. The pitch deck takes the stage, captivating hearts, and minds, while the business plan works backstage, ensuring your startup’s strategy is solid and future-proof.

As you navigate the waves of uncertainty and opportunity, remember that you’re armed with these potent tools. Whether stepping onto a stage bathed in the spotlight or sitting across the table from investors in a boardroom, your startup’s journey is powered by the fusion of innovation, strategy, and vision. May your pitch be as compelling as your plan is meticulous, and may your startup voyage be filled with discovery, triumphs, and the realization of your dreams.

Disruptive Partners OÜ Harju maakond, Tallinn, Kesklinna linnaosa, Tornimäe tn 3 / 5 / 7, 10145

PitchBob, Inc 2261 Market Street #10281 San Francisco, CA 94114

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Pitch Deck vs Business Plan – Which One do You Need?

What is a pitch deck.

A pitch deck is a presentation that entrepreneurs use to sell their business idea to potential investors. The purpose of a pitch deck is to give an overview of the business, its products or services, its market opportunity, and its team in order to persuade the audience to invest in the company.

What is a business plan?

A business plan is a document that outlines the goals, strategies, and financial projections of a business. It is used to persuade potential investors to invest in the company.

Pitch deck vs Business plan

Pitch decks and business plans are different in their purpose, content, and format.

Whether you need a pitch deck vs a business plan will depend a lot on the type of business you are running or planning to set up.

Both these documents help entrepreneurs navigate their businesses over the next few years. Both these documents help investors in deciding whether to fund the business or not. However, where business plans are essential for traditional businesses that have a more concrete pathway to success, startups don’t require business plans. A pitch deck is more appropriate for a startup as a lot will change in the course of business.

In this post, we will discuss the differences between pitch deck and business plan and help you determine which one is necessary for your business.

The purpose of a pitch deck is to raise money from venture capitalists and angel investors. The purpose of a business plan is for traditional businesses or late-stage companies to raise money from investors and banks and also to forge partnerships with other organizations.

A pitch deck is a summary to help investors get a decent understanding of the business and helps create opportunities for entrepreneurs to get meetings with venture capital firms and angel investors. Business plans on the other hand serve as full-proof research to help investors understand whether they should invest.

As mentioned previously, pitch decks are more apt for tech startup companies whereas business plans are prominently used by established businesses, small or big.

Suppose I am an angel investor or a venture capitalist investing at a seed stage (up to $1 million). In that case, I am more interested in the team and the idea and how the business could disrupt a whole industry or create a new one. When the company has grown from an idea to a company with employees and millions of dollars in revenue, I am more interested in seeing how they will reach stability and become the number 1 or 2 player in the market, and I am interested in detailed strategies. That is when I want to look at the business plan and understand how they will execute their plans.

Pitch decks can range between 10-50 pages and depend on the stage of the startup. For example, investors who invest in very early-stage startups require not more than a 10-page pitch deck. However, as the startup grows and raises more money, investors who come in at a later stage would want more information and might require a detailed pitch deck that can range up to 70 pages.

Business plans on the other hand are very detailed as cover every aspect of the business and can easily be 100 pages long. A business plan can even contain forecasts for the next 5 years.

A typical investor will spend 2-3 minutes going through a pitch deck but needs to spend more time going through a business plan as there are more details.

4. Audience Focus

A pitch deck focuses on the team, product, market, and traction metrics. These are 4 primary features investors look at to decide whether to invest or not. And these features can easily fit into a 10-page deck.

When the relevant audience looks at a business plan, they want to know if the business they are getting into is/can be profitable and also runs stable operations. In other words, since business plans look at a much longer-term, it includes a lot of details.

5. Presentation

Pitch decks are more visual compared to business plans and are presented vocally to an audience or a set of investors. Business plans are presented verbally as they are read by the relevant audience. Since business plans are longer, they are not presented to an audience.

Pitch decks are usually created with software like Microsoft PowerPoint or Google slides. There is also other software like Prezi and Slidebean which specifically help in preparing pitch decks.

Business plans are usually prepared in Word format as they are heavily text-based.

These are the key differences between startup pitch decks vs business plans.

A pitch deck typically covers key aspects of your business, such as the problem you’re solving, your solution, target market, business model, team, financials, and competitive advantage. It’s a concise overview designed to capture the essence of your idea and pique the interest of potential investors or partners.

On the other hand, a business plan is a comprehensive document that delves into every aspect of your business. It includes an executive summary, company description, market analysis, operations plan, management team details, financial projections, and risk analysis. The business plan serves as a roadmap for starting and operating your company.

8. Level of Detail

A pitch deck is a high-level overview that concisely presents key points and visuals. It focuses on the most critical aspects of your business, leaving out granular details.

In contrast, a business plan is an in-depth and comprehensive document that covers all aspects of your business in great detail. It provides a thorough analysis of your industry, target market, competitive landscape, and operational strategies.

9. Time Frame

A pitch deck is often focused on the present and near future, highlighting the current opportunity and potential for growth. It’s designed to capture the attention of investors or partners and convince them to support your business in its early stages.

In contrast, a business plan typically covers a longer time frame, usually spanning three to five years. It outlines the long-term vision, goals, and strategies for your business, providing a roadmap for sustained growth and success.

The tone of a pitch deck is persuasive and compelling. It emphasizes the unique opportunity and potential of your business idea, aiming to excite and convince the audience to invest or partner with you.

On the other hand, a business plan adopts a more formal and objective tone. It presents the facts, figures, and analyses in a straightforward manner, focusing on the feasibility and practicality of your business plans.

11. Confidentiality

Pitch decks are typically shared externally with potential investors, partners, or stakeholders. They are designed to generate interest and secure funding or resources.

Business plans, however, are often kept confidential and shared only internally or with select stakeholders, such as investors or lenders who require a comprehensive understanding of your business plans.

12. Frequency of Updates

Pitch decks are updated as needed for different pitches or rounds of funding. As your business evolves and new information becomes available, you may need to revise your pitch deck to reflect the latest developments and tailor it to specific audiences.

In contrast, business plans are living documents that should be updated regularly, typically on an annual basis or whenever significant changes occur within your business or industry. As your company grows and plans shift, the business plan needs to be revised to reflect the current state and future strategies.

Here’s a table summarizing the differences between the two.

Pitch deck vs business plan, w hat comes first?

The pitch deck is a teaser and comes first. If you are running a business and have decided to raise funds from investors, it’s obvious that you probably don’t know most of them. So, a pitch deck is a great way to get your foot on the door and make a good first impression.

With many new entrepreneurs starting up, you can imagine that every investor gets plenty of pitch decks and business proposals to invest in. Probably hundreds, every month. So, if they have to read lengthy business plans, they won’t have time to actually make investments. That’s why it’s essential to capture their attention with a crisp 10-15 page pitch deck that introduces them to the team, the idea, and how the business can make investors rich.

Do you have all the elements of a good pitch deck?

A good pitch deck gives you the opportunity to grab the attention of investors. A good pitch deck contains most of the necessary information required for investors to make a decision on whether they should talk to you. Take the free assessment to find out if you have all the elements that should be included in your pitch deck .

Also, check out our post on how to create a good elevator pitch to get investors interested in what you’re building.

Tips for creating a good pitch deck

Here are a few tips for creating a successful pitch deck:

– Keep it short and sweet: Remember that you only have a few minutes to make your case, so make sure your deck is concise and to the point.

– Focus on the key points: Investors will want to know about your team, your business model, your traction, and your financial projections. Make sure you hit on all of these points in your deck.

– Use visuals: A pitch deck is a great opportunity to show off your company with some visuals. Include slides with graphs and charts to illustrate your key points.

– Practice, practice, practice: Before you ever step in front of investors, make sure you’ve practiced your pitch a few times. This will help you deliver it confidently and ensure that you don’t leave anything out.

Partha Chakraborty

Partha Chakraborty is a venture capitalist turned entrepreneur with 17 years of experience. He has worked across India, China & Singapore. He is the founder of Tactyqal.com, a startup that guides other startup founders to find success. He loves to brainstorm new business ideas, and talk about growth hacking, and venture capital. In his spare time, he mentors young entrepreneurs to build successful startups.

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How to Give a Great Elevator Pitch (With Examples)

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How to Give a Great Elevator Pitch (With Examples) was originally published on Forage .

Though people are complex and so much more than just their jobs, in a new social situation you’re often asked, “So, what do you do?” or “What are you majoring in?” While you probably have a stock answer ready to go (I’m in sales; I’m majoring in English), the person asking may be able to help you achieve your career goals — but they won’t know unless you’ve got an elevator pitch ready to go.

An elevator pitch is an enticing and interesting three or four-sentence summary of you. But you do more than talk about yourself. Your elevator pitch gets the listener interested in what you’re capable of.

In this guide, you’ll learn:

What Is an Elevator Pitch?

How to write an elevator pitch, elevator pitch examples, elevator pitch bonus tips.

Mike Gardon of CareerCloud sums up elevator pitches like this: “When meeting someone for the first time, we all get asked what we do, right? Well, an elevator pitch is how you answer that question.”

At its core, an elevator pitch is a brief synopsis of who you are and what you do (or are trying to do). It’s named so because of the idea that you’re in an elevator with the one person who can make your career dreams come true. You’ve got the length of that elevator ride (approximately 30 seconds) to convince that person to keep listening to you.

Why You Need an Elevator Pitch (and When You’ll Use It)

In many respects, an elevator pitch is all about you. And though it may seem strange — uncomfortable even — to talk about yourself, a well-designed elevator pitch starts with you and ends with the listener.

Gardon explains, “The elevator pitch is designed to engage the person with whom you are communicating, and get them to take some next action. Think about it like this: if you were writing an email, the elevator pitch would be the subject line plus the next couple of lines that are shown in an inbox. The purpose is to get the recipient to open the email.”

In the case of your elevator pitch, you’re attempting to spark a longer conversation (or later meeting) with someone who could potentially help you professionally.

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Your elevator pitch comes in handy when you’re looking for a job. But you’ll also use various versions of your elevator pitch in situations like:

• Networking events
• Prospecting for new sales and clients
• When you’re interviewing and asked, “Tell me about yourself.”
• As the “about me” on LinkedIn, Twitter, or other social media page
• In the summary of qualifications on your resume

How Long Should an Elevator Pitch Be?

While elevator ride times vary, the general rule of thumb is that an elevator pitch is no longer than 30 seconds, which means your pitch needs to be concise.

So, you can’t include every accomplishment from your last three jobs, just the top most recent ones. As you’re honing your pitch, write it down and limit yourself to four sentences. This will help you focus on your top highlights.

In general, an elevator pitch includes four essential elements: who you are, what you do, what’s unique about you, and what your “ask” is. Though the “meat” of your pitch likely doesn’t change often, you should prepare multiple elevator pitches that you can tailor to your situation.

For example, if you’re a student, the pitch you use at a career fair may not be the same one you use at a networking event. Likewise, if you’re changing careers, you may need to switch up what your “ask” is depending on who you talk to.

Gardon offers an example. “I wear so many different hats and am involved in different businesses. So, if I want someone to be a guest on my podcast, I might tell them how we’ve done over 400 episodes, instead of telling them that I’m a former derivatives trader.”

Also, while the below elements are crucial, they can go in almost any order. While a good elevator pitch usually begins with your name, you may find that listing your skills before your accomplishments is better for your pitch.

Part 1: Who Are You?

Your elevator pitch starts with your name, of course, but also consider throwing in a “hook” that gives the person you’re speaking with an opening to ask you questions. Here are some examples:

“I’m [your name], a recent graduate of [university] with a degree in [your degree].”

“My name is [your name] and I’m a junior at [university] majoring in [your major].”

“I’m [your name] and while I’m currently in product development, I’ve decided I want to change gears and go into graphic design.”

Part 2: What Do You Do?

The second part of your elevator pitch explains what you do. However, you shouldn’t limit yourself to a job title. This is the place to mention one outstanding accomplishment from your job, internship, or even a class that will wow your listener.

Like all parts of your elevator speech, this needs to be brief, but it should also be detailed and help the listener get an idea of what you’re capable of:

“During my marketing internship at [name of company], I grew social media engagement by 43%, which resulted in an uptick in newsletter sign-ups year over year.”

“Our business is small, but that lets us have more personal interaction, which has helped us keep a small but loyal and profitable client base for 15 years.”

“After learning about the stock market, I wanted to test what I learned as well as my skills, so I created a mock portfolio that’s realized a 24% gain over the last year.”

Part 3: What’s Unique About You?

The next section of your elevator pitch includes something unique about you. While this can include specific skills, you can also trace your career path or accomplishments to illustrate how you use your skills.

Because you only have 30 seconds, you might be tempted to list your skills or accomplishments like a grocery list. But try to link them to an outcome or something you can do.

“I enjoy analyzing data and using the results to plan my content calendar, including social media posts.”

“I worked on my college newspaper, starting on the sports beat, eventually moving my way up to chief editor.”

The first example mentions one skill (data analysis ) and two outcomes (planning the content calendar and social media posts). The second example doesn’t mention any skills but illustrates the speaker’s career path (sports beat to chief editor), demonstrating an increase in skills and responsibilities.

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Part 4: Call to Action (or What’s Your Ask?)

The final part of your elevator pitch includes a call to action. Or, more specifically, what are you asking for?

Much like networking, you may not want to blurt out “a job!” even if that’s your desired outcome. This section is what you hope will happen, which could be a job, internship, or just a new networking connection.

“I would love to speak to you about being a potential mentor, if you have time.”

“I’d like to follow up with you about how I can get involved in and conduct summer research.”

“Can you tell me how you decided on [this] career?”

Each of these invites the listener to continue engaging with you either right now or in the future. 

Optional Part 5: Something Memorable

Finally, depending on the situation, you might want to include something memorable in your pitch. This is situation-dependent and only something you should do if you’re comfortable.

For example, the pitch on Gardon’s LinkedIn profile says, “Earned the Title ‘World Champion Funniest Person In The World (to my kids)’ 10 years running.”

Of course, not everyone can be the “Funniest Person in the World,” but your memorable moment could be your love of science fiction, who your favorite author is, or the fact that you just adopted a cat.

Here’s what all the elements look like when you put them together:

“I’m David, a rising senior at XYZ University and an education major. I spent last year student teaching at my old high school, and it was quite the experience being on the other side. I’m graduating in the spring and am looking to teach high school biology.”

“I’m Ella, and I’m currently an individual contributor at XYZ company running the social media accounts. I use Google Analytics to analyze and improve content performance, and my personal TikTok has XXX followers. I’m looking to move to a leadership role at a mid to large-size company where I can mentor others.”

“I’m Mike and I’m a sophomore at XYZ university. When I was a kid, I really wanted to communicate with animals, which is partly why I’m majoring in zoology. I’m not sure what career is best suited for me. Can you tell me how you ended up in yours?”

Once you’ve written (and rewritten) your elevator pitch, you’re almost ready to try it out. Before you do, though, ensure your delivery is memorable — for the right reasons!

• Practice. Practice makes perfect, of course. And while you don’t want to sound too rehearsed, you also don’t want to trip over your pitch or start rambling. Practice in front of a mirror, with friends or family, or record yourself to make sure you’re getting it right.
• Time yourself. Thirty seconds can feel like forever or fly right by. Time yourself to make sure your pitch isn’t too long or too short, and adjust as necessary.
• Use your “excited” voice. While you’ll want to use your “inside voice,” vary your tone. When you give a rehearsed speech, it should be polished but not robotic. Try to bring some excitement to your voice as you speak.
• Speak slowly. You may want to cram as much as possible into your 30 seconds, but that could result in you speaking too quickly to try to get it all in, making it tough for the listener to understand you. As hard as it might be, stick to one or two main points.
• Maintain eye contact. While you don’t want to stare at the listener the whole time, you don’t want to stare at the floor either. Maintain the level of eye contact that feels normal and natural to you, and break eye contact when appropriate.

Make Your Pitch

An elevator pitch is useful in all sorts of professional (and even personal!) situations. By taking stock of what you do and what you want to do, you’ll find the perfect elements to include in yours and impress the next person you pitch it to.

Want more insights into creating the perfect pitch? Check out Ashurst’s Building Your Personal Brand Virtual Experience Program .

Image credit: Canva

The post How to Give a Great Elevator Pitch (With Examples) appeared first on Forage .

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Marketing 101: What is a business elevator pitch?

Marketing has a language all its own. This is our latest in a series of posts aimed at helping new marketers learn that language . What term do you find yourself explaining most often to new hires during onboarding? Let us know .

This article was originally published in the MarketingSherpa email newsletter .

An elevator pitch is a quick explanation of a value proposition for something you are trying to influence another person’s opinion on.

An elevator pitch (also called an elevator speech) can be for a company (to persuade investors), a product (to influence a purchase), a project (to get budget) or even a person (to get a job).

A key component of an elevator pitch is the quick, succinct summation of much more information – enough to change an opinion or elicit an action but not so much that you lose someone’s attention. An elevator pitch can be particularly important when you know you will only have a short amount of time with the person (say, at a networking event or running into the CEO in the hallway or in a literal elevator).

The term likely originates from the idea that one could run into a key decision maker in an elevator. If that happened, you need a prepared statement you can use during the few seconds you have with this decision maker during that elevator ride.

A forceful value proposition is key to an effective elevator pitch. According to MECLABS Institute’s methodology, there are four elements to a forceful value proposition – clarity , credibility , exclusivity , and appeal (MECLABS is the parent organization of MarketingSherpa).

“I must understand (clarity) so I can believe (credibility) that only you (exclusivity) have what I want (appeal),” said Flint McGlaughlin, CEO and Managing Director, MECLABS Institute.

Word usage examples

To put the term ‘elevator pitch’ in context, here are some examples of how we have used the term in our content.

• “In other words, what’s the elevator pitch for what you offer in the marketplace?” from 3 Factors that Connect Value Prop to Prospects
• “After all, unlike established companies with divisions and brands and patents and factories and distribution networks, the main asset many startups have is their value proposition (often communicated as an ‘elevator pitch’ ).” from Appeal: Does your value proposition actually make customers say, “I want this product or offer”?
• “Essentially, what’s the elevator pitch for your job?” from Marketing Career: Can you explain your job to a six-year-old?

Elevator pitch example

Steve Jobs delivered a famous elevator pitch to John Sculley in 1983 – “Do you want to spend the rest of your life selling sugared water, or do you want a chance to change the world?”

Sculley was the president of Pepsi at the time. Jobs was starting to make something special happen with Apple. However, Jobs needed a CEO to run Apple so that he could focus on developing new products for the growing company. Sculley wasn’t convinced by Apple’s laid-back culture and politely rejected Jobs’ original offer until Jobs presented his famous elevator pitch.

“That abrupt but direct question says everything about how Apple tackles innovation and its products—and it led to Scully joining Apple,” said James Edge, Founder, Crush the USMLE .

“The pitch is brilliant because of its simplicity and unorthodox nature. Instead of following the traditional elevator pitch model, this one went straight to Sculley’s heart. The question hit him so hard that he eventually changed his mind and joined what would become one of the most impactful and profitable companies in the history of the world,” said Marc Lewis, General Manager and Executive Editor, Ecowatch .

You can follow Daniel Burstein, Senior Director, Content & Marketing, MarketingSherpa and MECLABS Institute, on Twitter @DanielBurstein .

If you are interested in elevator pitches, you might also like…

An Effective Value Proposition: What it is, why it is so important to business and marketing success, and how to use it

7 Steps to Discovering Your Essential Value Proposition with Simple A/B Tests

Pivot Your Value Proposition: 6 ways brands, entrepreneurs and marketers are responding to COVID-19’s economic fallout

Free Template to Help You Win Approval for Proposed Projects, Campaigns and Ideas

If you are interested in entry-level marketing content, you might also like…

Marketing 101: What is PPC in marketing?

The Beginner’s Guide to Digital Marketing: 53 articles (and 1 video) to help with onboarding

Marketing 101: What are beneficial buttons?

About Daniel Burstein

Daniel Burstein, Senior Director of Editorial Content, MECLABS. Daniel oversees all content and marketing coming from the MarketingExperiments and MarketingSherpa brands while helping to shape the editorial direction for MECLABS – digging for actionable information while serving as an advocate for the audience. Daniel is also a speaker and moderator at live events and on webinars. Previously, he was the main writer powering MarketingExperiments publishing engine – from Web clinics to Research Journals to the blog. Prior to joining the team, Daniel was Vice President of MindPulse Communications – a boutique communications consultancy specializing in IT clients such as IBM, VMware, and BEA Systems. Daniel has 18 years of experience in copywriting, editing, internal communications, sales enablement and field marketing communications.

Twitter | LinkedIn | Daniel's Posts | Send a Letter to the Editor

Categories: Value Proposition Tags: business , Elevator pitch , Marketing , sales , Value Proposition

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• What is a Pitch Deck

Whether you’re a first time founder, a hopeful entrepreneur or a serial startup guru, you’ve likely pondered “What is the difference between a pitch deck and a business plan?” Which one came first? Why would you use a pitch deck over a business plan? Or, why would you use a business plan over a pitch deck? Are business plans archaic? Is a pitch deck just a pretty business plan? What works best for your startup? And at what time? Do you even need either one? These are important questions. Especially when your time is limited as you are building and growing your company.

Before we can answer these questions, let’s talk about what a pitch deck and a business plan are.

THE BUSINESS PITCH DECK

A pitch deck is a presentation that contains 10-20 slides. The pitch deck presentation is either sent to investors as a pdf to get them interested in taking a meeting with the entrepreneur, or used as a visual aid during a live presentation to either investors or other audiences like pitch competitions. Sometimes pitch decks are used for both.

A pitch deck is meant to share information about your business. Who does it serve and why, the size of the market, your special sauce and how you will win in that space. It lays out clear go to market strategies, and delves into some detail on future opportunities. It relies on your research of your industry and understanding of your business’ plan for launch and growth. The pitch deck helps an investor see where you are, where you are going and enables them to decide if they want to help you get there. The goal of a pitch deck is to score an in-person meeting or to kick off the conversation with an investor about joining your funding round.

• 10-20 slides
• Highly Visual
• Used to Get Investors Attention

THE BUSINESS PLAN

A business plan is a fully researched 10-100 page document. The document is used to store and convey in detail your business’ plans for the next 1,3, 5 years. The business plan lays out the research you’ve done in your industry and competitors. It discusses your sales, marketing, and operational plans. It takes into account your financial analysis, assumptions on growth and success, and lays out a map of where your company will be and how it will get there.

The business plan goes into detail on the management team and what unique skills they bring to the table. The document usually includes a significant number of charts, depictions and pictures. But it relies heavily on text to convey the information. The business plan is used as a document that is shared with potential investors for them to use as a reference point when deciding whether or not to invest in your company. It is often used in a due diligence step in the funding process. The goal of a business plan is to lead you and your team members down the path of success over the next few years, and to show an investor how you plan to be successful with their investment.

• 10-100 Pages
• Highly Text-Based
• Used to Get Investor Buy-in

Which Came First, the Pitch Deck or the Business Plan?

The business plan is a longstanding document that has been been used in the building and planning and funding of businesses for quite some time. Possibly as long as  businesses  have been a thing. If you can believe that. It is a basic document really, it is the plan for the enterprise which you are setting out on.

To ensure that you are successful, you should carefully plan how you will be successful, and make those decisions based on thorough research. You need to understand your customers and their problems as well as your competitors and their weaknesses. Before the existence of Venture Capital firms and other now widely available forms of equity funding, banks gave out loans to businesses to help them get started. But in order to choose who to give the loans to, they needed to make sure that they would be able to pay those loans back. A business plan was required to convey to the banker the viability of the venture. It has been a staple ever since. Banks still require business plans for loan applications today. Some request or accept pitch decks too, but not usually instead of the business plan.

It is not clear who put together the very first pitch deck, or since exactly when investors have been looking for the pitch deck, but we can deduce a few things from history. Venture Capital firms really started to gain traction as a viable source of funding during or right before the tech boom of the 90’s. They played a big role in bank-rolling the launch and growth of many 90’s startup companies. Back then, it took a lot of capital to set up the infrastructure needed to start a large tech company. Websites needed to be built and coded, infrastructure (like servers, mainframes & networking components). They needed to be purchased and set up and run and maintained.

But, online companies looked nothing like traditional businesses. Like a restaurant or a manufacturer–it was all a little too uncertain and risky for banks to give out loans. So, venture capitalists and angel investors filled the void. They offered funding in exchange for equity.

The Beginning of the Business Pitch Deck

I imagine in the beginning these groups read the full business plans of potential deals. But as the venture capitalists got more busy, received more applications, and more and more founders looked to equity instead of debt financing, they likely couldn’t read a whole business plan for every applicant. One pagers and executive summaries helped, but even these were tiresome text-heavy documents to read through all day long. There was a need for a shorty, easier to digest document.

In comes graphic design tools for the masses. Microsoft PowerPoint was invented in 1987, and grew in it’s popularity through the 90’s. The appeal of PowerPoint was that you could use it to project a visual aid as you spoke to your audience. This meant they could see additional information, charts and pictures that provided more context to your speech. So founders started using these technologies when pitching to investor during those initial meetings.

Somewhere along the line, the ease and visual nature of the Slide Deck merged with the long-form business plan. And founders started sending visual documents created in PowerPoint and other slide deck design tools to investors before they met them.

So which came first the pitch deck or the business plan? The pitch deck is a child of the business plan. The business plan came first, then the pitch deck.

Why You May Not Need Both a Pitch Deck and a Business Plan

All of that said, today you may not need both a pitch deck and a business plan. It depends on your business stage and what your goals are. A business plan is a thorough document that contains “the plan” itself. If you have “the plan” itself written down in a variety of documents or sources of information than you may not need an official business plan document in the traditional sense. And at least not a 100 page one.

If you are looking to work with a pitch deck designer, it may be advantageous to have a full or partial business plan. Your pitch deck designer will most likely not assist you with business decisions and strategies. Rather, they will work with you–the expert–to tell your plan, ensure it is compelling to the investor audience, and well designed and visually appealing. You need to have a concept. And likely need to have done some level of research into your industry and competitors to work with a designer on your deck. But, you needed that anyway just to be an effective founder.

When You Need a Business Plan and Not a Pitch Deck

• If Seeking Debt Financing: Banks still review business plans, so you will need a business plan if you’re looking to get any kind of loan from a bank.
• When Raising Over $500K: If you’re raising a lot of money, you better have a plan for what you’re going to do with it. Investors will be doing due diligence, be prepared.
• When You Have Co-founders / Co-owners: When you have several cooks in the kitchen, it is helpful to have a written and agreed upon plan to make sure everyone stays on track and executes the way you intended. This should be a living document that is updated over time and as things change.

When You Need a Pitch Deck and Not a Business Plan

• When You are Seeking Equity Funding: If you’re looking for funding from venture capitalists, angel investors or saavy friends and family, you need a clear pitch deck.
• If You’re Networking with Investors: Not ready to get investment now, but have the opportunity to network with investors? You should have a pitch deck ready. First impressions are important, especially when building influential relationships.
• When Your Pitch in a Competition: In the startup community there are a lot of pitch events and competitions designed to give founders a chance to get exposure and practice pitching their company. You definitely need a pitch deck.
• When You Are Seeking CoFounders: If you’re looking for cofounders, there is no better way to convey to them your concept, and the value you can bring to the table than through a pitch deck.
• When You Apply to an Accelerator: Many accelerators require a pitch deck in order to apply. They use the deck to evaluate your company and decide whether or not you should join the next cohort.

Which is More Important, the Pitch Deck or the Business Plan?

In can be argued that the pitch deck is more important than the business plan, because it is likely to actually be seen by others. If you don’t have a good business pitch deck, you won’t get the opportunity to talk in more detail with potential investors. You won’t excite and evangelize the startup community and your early team around the company’s growth. And, it may ruin your ability to connect with key mentors and partners that could catapult your startup business.

That said, with no plan, the pitch deck will not work. Investors see pitches day-in and day-out. They can sense a snake-oil salesman, an impossible tech product, and an unprepared founder from a mile away. If you don’t know your stuff, then the best pitch may help you get the meeting, but it won’t help you get funding. But today, the plan doesn’t have to be in the form of a traditional text-based business plan.

I hope this has helped you to better evaluate the differences between pitch decks and business plans. And help why you might choose to develop one or each of them for your startup. If you’re building your pitch deck, I strongly encourage you to work with pitch deck experts. We  evaluated different options for getting your pitch deck designed here (including DIY, all the pros and cons).

Stacie Sterren

Related posts.

What is a Startup Accelerator?

What is traction?

Why You Need More Than One Pitch Deck

Can You Get Funding with a Bad Pitch Deck if your Startup is Good Enough?

Is it time? Does your startup need a pitch deck?

Value Proposition vs Elevator Pitch: Difference and Comparison

Key Takeaways Value Proposition: A statement that explains the unique value, benefits, and differentiation of a product, service, or business compared to competitors. It describes what differentiates it and how it solves a specific problem for its target customers. Elevator Pitch: A brief and compelling description of a product, service, or business idea that can be delivered quickly, 30 seconds to 2 minutes. It aims to capture attention, generate interest, and communicate the core value or key points quickly and effectively. Difference: The value proposition is a more detailed and comprehensive statement that goes into depth about the offering’s unique value and benefits. At the same time, the elevator pitch is a concise and attention-grabbing summary that quickly communicates key points to capture interest. The value proposition is used in marketing materials and business plans, while the elevator pitch is used in networking events or pitch competitions where time is limited.

What is Value Proposition?

What is elevator pitch, similar reads, difference between value proposition and elevator pitch, comparison between value proposition and elevator pitch.

Last Updated : 21 July, 2023

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