When to Ditch the Elevator Speech and Take the Escalator or the Stairs

You know the "Elevator Speech." It is the hypothetical answer you would give if you were alone in a high-rise building elevator with the CEO of a potential client. Presumably the CEO says, "Tell me about your company," or "Tell me why we should work with you." Your presumed answer—sometimes called "the elevator pitch"—turns out to be a good solution in search of the right problem.

There are situations where a 30- to 60-second answer to those questions is exactly what's called for. But there are other situations—far more, in fact—where different approaches are called for—let's call them the Escalator Speech and the Stairs Speech.

The Standard Elevator Speech

Try searching "elevator speech." Depending on whom you read your elevator speech should last 30 seconds—or maybe 120. It should answer the question, "What do you do?" or maybe it should just make an impression. It should—or shouldn't—be a sales pitch. It is applicable to a job hunter, as well as to an entrepreneur in search of venture capital.

One size does not fit all, of course. But there is one simple question to help you craft your response speech, and it is this: What does the other person really want from you?

There are three possible answers, each requiring a different "speech":

1. Do I want to be involved with these people?
2. What can these people do for me?
3. Who are these people, and do I care?

Let's examine each.

Do I Want to Be Involved With These People? The True Elevator Speech

If you're an entrepreneur pitching a venture capitalist, there is a definite frame of reference established simply by naming those two roles. A venture capitalist's key question is, "Shall I invest more time, and ultimately more money, in developing an investor relationship with these people?"