Elevator Pitch Definition

I just checked out Wikipedia to investigate what it had to say about the almighty Elevator Pitch. And here’s the scoop…

An elevator pitch (or elevator speech) is an overview of an idea for a product, service, or project. The name reflects the fact that an elevator pitch can be delivered in the time span of an elevator ride (for example, thirty seconds or 100-150 words).

The term is typically used in the context of an entrepreneur pitching an idea to a venture capitalist to receive funding. Venture capitalists often judge the quality of an idea and team on the basis of the quality of its elevator pitch, and will ask entrepreneurs for the elevator pitch to quickly weed out bad ideas.

It is said that many of the most important decisions made on the floor of the United States’s House or Senate are made “within the span of an elevator ride” as a staff aide whispers into a Congressman or Senator’s ear while they head down to the floor to cast their vote.[citation needed]

A variety of other people, including entrepreneurs, project managers, salespeople, evangelists, job seekers, and speed daters commonly use elevator pitches to get their point across quickly.