Showing posts with label entrepreneurship. Show all posts
Showing posts with label entrepreneurship. Show all posts

Friday, April 4, 2014

What's Your Elevator Speech?

No matter what you do, or who you are, at some point you will be given a moment to ‘pitch’ yourself.  A ‘pitch’ here is that description of who you are, or what product you sell, or what you stand for, or what makes you unique, or sets you apart, etc.
An ‘Elevator Speech’ is simply this pitch made in the time it takes to ride an elevator.  This is the time you have to make that great first impression, explain to someone your passions, make the sell, or simply inform someone about you.  The pitch is made in about 30 to 60 seconds and should be very precise, concise, and on message.
Considering the vast number of professionals who don’t know what an elevator speech is, don’t be alarmed if you don’t have one; most of the time we don’t take the time to boil ourselves down to a 30 to 60 second message.  We can assure you, with great confidence, that those who have perfected their pitch have given it countless times and reaped tremendous rewards.
The elevator speech allows us to demonstrate our passion(s) in a short time frame.  It doesn’t matter if you are a talker, or a listener, we all need a solid ‘pitch’ about ourselves and/or those things that matter to us.
A few years ago I was raising money for a capital campaign.  During the elevator ride to my meeting, I was in the car with a stranger who engaged me in conversation.  Although I understood the ins and outs of the campaign, I fumbled around during this brief time to give a concise explanation of what I was doing and highlighted what I thought was urgent.  Unfortunately, I missed the important talking points I was so good at delivering with a client in a meeting.
I remember this story because sometime later on, when I was introduced to the critical need of having a good ‘Elevator Speech,’ I recalled this example.  Knowing that the elevator is simply a metaphor for the timing of the speech, I set down to being able to articulate myself in 30 to 60 seconds.  After years of preparing numerous pitches, I’ve condensed, written, re-written, and finally compiled a methodology for creating an effective ‘pitch.’
Take these tips below and work with them.  Subtract and add your own points as necessary, after all, it’s your pitch! Remember, no matter what:



Understand Your Product
          We cannot underscore this point enough.  We’ve heard a number of pitches where the speaker(s) did not truly understand their product(s).  Sure, the energy and desire were there, but the speakers were not completely confident with their product.  (Product, in this case, is the essence of the ‘pitch.’  It doesn’t matter if you are talking about alligators, zebras, or anything in between, if you don’t understand the ins and outs of your ‘product’ the listener will see right through you and you will lose credibility.)
          Take some paper and write down what you are preparing to pitch.  As an example: you are raising money for a library to buy books and extend their offerings to the public.
          As mentioned above we need to know what are product is.  Can you tell me what the purpose of the product might be in the above example?  An idea could be education for children and adults.  This purpose is what we are really doing and trying to convey to the listener in a tightly managed amount of time.  Buying the books and creating an avenue for additional offerings is how the library is going to accomplish this goal.
          Writing this and, obviously, more information down on our paper you can begin to write what you want to say.  On the initial drafts it’s not important how long the speech is; what is important is moving the ideas from your mind to the page.

Clarify Your Intention
          Understand your purpose.  If you are raising money for the library and the purpose is education, you don’t need to mention the need for more chairs and desks.  This is where the work comes in.  Good, no great, pitches are written and re-written numerous times.  Take the time to continually write out the intention until it is perfect.
          Every time you write out the intention, you take the opportunity to tighten up the language, remove unnecessary words, etc.  This exercise alone will help you solidify your purpose in the pitch.
          In addition, try to avoid using large, complicated vocabulary in the pitch.  Ensure your pitch can be understood by everyone who hears it.  While it is most important that you pitch decision makers, treat everyone to the same pitch.  Be careful not to dumb-down, or fluff-up your language because of your perception of the listener.  While this may be necessary at a later point, the elevator speech is geared toward using a limited amount of time to convey a concise message.

Make Your Speech Memorable
          As you want to be remembered for your speech, also be remembered for your passion on the topic.  People, in general, want to be excited with you.  When you make your pitch be excited and let your passion be both heard and seen.
          Following the library example from above, be sure to engage the name of the library and connect it with your listener so they develop proper empathy you’re working to achieve.  If you can place anecdotal information about the library and thus brand the library with the listener, your speech will be that much more meaningful to the listener.
Your nonverbal communication skill set will be very important here.  If you tend to be very reserved, you will need to learn to animate yourself appropriately.  Likewise, if you ‘talk with your hands’ be careful with allowing your gestures to speak louder than your speech.

Practice, Practice, Practice
          Need we say more?  Practice is the very essence of success.  If you want to be successful at anything you must be willing to commit the necessary time.  Crafting and reciting the perfect speech will take time and practice.  Consider it this way: you will get one shot in this 30 to 60 second window.  One shot.  Take the time to word it properly and recite it clearly.
          When practicing the speech, say it to yourself while looking in the mirror.  This is what your listener will see while they hear you.  Please do not skip this step.  Practicing in the mirror will help you build confidence, and having confidence in your pitch is critical.
          Another practical reason to recite your speech in the mirror is to observe your nonverbal communication skills.  This practice time gives you an opportunity to work on these often overlooked pieces of the communication model.
          In the shower, during your commute, during your break, in your head, out loud, etc.; these are all opportunities to practice your speech.  Practice to make it perfect!

Follow-up Action Item
           Start writing today.  It will take some time to create your perfect speech.  Don’t be frustrated if you can’t get it down right away, keep working on it.  Keep writing and listening to others and what they say, you might want to incorporate some of the things others say into your speech, but you’ll never know unless you get started.  Use the list above and/or refine it to your expertise.  Either way, just do it!

Takeaway
          There will always be a time when you need to ‘pitch’ yourself and/or a product.  Taking the time to articulate this pitch in 30 to 60 seconds will set you apart from everyone else.  Adding this tool to your communication toolkit will open more doors for you than it will close.

Delivering Your Best


Saturday, March 22, 2014

Social Entrepreneurship

As a buzz phrase, social entrepreneurship is certainly not new, but is becoming increasingly more popular.  While governments and NGOs alike often strive to deliver the best they can to people, it is often found that better, more inclusive results happen from social entrepreneurs.
Social entrepreneurs (SE or SEs) are otherwise average citizens that recognize economic or social community needs and develop a strategy for addressing these needs. Schwabfound.org is an excellent resource to what an SE looks like.  A well-known example is Nobel Laureate Professor Muhammad Yunus who developed Grameen Bank as a bank for the poor.  He saw a need and addressed that need while developing a sustainable income for his firm.  And this is the core of SE: originating a business model that develops great community benefit while providing income for the business and its stakeholders.
In recent years, as we near a truer global economy and community, the growth of SEs has exploded.  (It is understood that while most SE firms are legitimate, other SE firms are not; and, unfortunately, this reality is likely to always exist.)  More and more global citizens are taking responsibility to develop products or services that address social and/or economic problems.  While major corporations are, more and more, engaging in Corporate Social Responsibility (CSR), it is the individual that is developing new approaches to time-worn problems.
SEs are innovators.  They ask relevant questions, such as: Why is there mass poverty in Africa, and what can I do about it?  How is it possible that so many people have no, or limited, access to water, and what can I do about it?  Why is it still acceptable in today’s age that women are still not globally afforded equal rights, and what can I do about it?
These are simple questions whose answers resonate deep sociologic, economic, political, etc., reasons for being.  But there are answers and solutions!  The social and economic answers that beset the world can be addressed by us, the global citizens.  Our desire at Delivering Your Best it not to change the world.  Rather, our desire is to empower individual people through inspiration, motivation, and education that allows them to ‘deliver their best’ in and to their communities.

How do I Become a Social Entrepreneur?
          Becoming an SE is not difficult.  Address a social impact, develop an innovative approach that is sustainable and meets your goals.  Understand, SE are business people.  You are running a company that is either for-profit or non-profit, but is principally-centered around accomplishing its mission and vision.
          Being a successful entrepreneur is hard work.  Being a successful social entrepreneur is even harder.  Not only does your firm need to maintain enough revenue to repay its obligations and stakeholders, it must resolve a model that has enough revenue to adequately address its social impact.
          Read through the website at Schwabfound.org to see some characteristics of an SE.  (This is not an explicit endorsement of this firm.  Rather, we believe they have information that presents a good start for someone looking into SE.  If you believe there are better, more informative sites, please let us know.)
          Larger firms have entire departments and divisions addressing their CSR.  As an entrepreneur, it’s usually you (and often your family) and a few others.  Don’t let this reality set you back.  Greatness is developed in the suffering and sacrifice found on the road to success.
 Being a successful SE is hard and most people don’t have the fortitude to continue the march.  That said, if you recognize that you may not be an ‘entrepreneurial-type,’ then find a way to get involved with a cause that addresses your social impact needs and desires.

I want to make a difference
Remember, there are social problems in each of our local communities that are in desperate need of address.  You do not have to reach out to another continent to make a difference.  Often, the difference you seek to make can be found in your own neighborhood or community.  Being a successful SE does not have to have a global reach, it can literally be in your own ‘backyard.’
Making a difference in other people’s lives is a rewarding and just cause in its own right.  Being willing to make that difference and then acting on that desire is what sets us apart from those who only talk about the problem.
Action is needed in all corners of the globe.  Social good is not a political narrative, and if we are going to make a difference we will need people from all walks of life to contribute.
A final thought on ‘making a difference’ is that if you can positively influence one person, who will then positively influence one person, and so on, you can change the world! 
       
Follow-up Action Item
          Determine your strengths and weaknesses.  Reflect on those items that you are passionate about and get educated about them.  If you find there are firms addressing your desired niche, get involved.  If you find there is a void in this segment, get creative!

Takeaway
          SEs are the future of our global way of life.  While they can never answer the political questions, we can as individuals get governments to look at pressing social impact issues through a different, or improved, lens of thought.


Delivering Your Best