Imagine yourself running into a famous investor in an elevator or hallway. Or a networking event. In situations like this, you need to articulate your idea in a way that’s easy to digest. You need a spiel — an elevator speech — so he or she can lend you an ear.
Of course, you won't likely have these encounters yourself, but you still need to write it in your specification. Why? Your elevator pitch serves as the executive summary of your project. It sets the vision and shapes the pillars of your ideas, which you need to communicate to your team who will, in turn, transform it into a tangible and usable solution. If you don't have an elevator pitch, you'll just run around in circles trying to explain to your team (and investors) what your app wants to do.
Treat your elevator speech like a snappy 60-second speech. If you're still on the fence about elevator pitches, you might be surprised to know that even Elon Musk does it to pitch Tesla to his prospective customers. Even Steve Jobs did it to recruit his CEO for Apple. Arbnb, too, used a pitch that helped them raise $500,000 for their then-startup.
We usually pitch one of our core products, Authgear, in this way:
All our personal data now fit the palm of our hands or pockets — and it only takes one weak link for it to fall into the wrong hands. As a software development company, we’ve seen firsthand how companies and users tend to see security and privacy as an afterthought. Data breaches are costly — to businesses and customers alike. Authgear is our answer. Authgear is a customizable authentication solution for web and mobile apps. This means your developers and IT team can reliably integrate security features like passwordless logins and multifactor authentication to your apps in as little as 5 minutes. Authgear helps businesses better manage your users, mitigate fraud, alleviate password fatigue, and accelerate your team’s development timelines.
For starters, we suggest that you make it as succinct as possible — something you can articulate easily without making it a canned speech. Include:
Focus on communicating your idea rather than selling it.
When you fill the form in each chapter, you can generate a project specification document with your ideas!