If you are like most business professionals, you’ve had it hammered into you to memorize a 60-second elevator speech that will captivate your spellbound victim and have them handing you over a check before the 9th floor. You’ve fussed about saturating the words into your mind so you can recite them at the speed of light without even blinking once. I have three words for you…
Take the stairs!
Business is about building relationships and elevator speeches don’t offer an august beginning. Regardless of your industry, product, or service, you must build a relationship by focusing on improving the condition of the other person, not numbing them with information about you. Heck, you don’t even know if they are someone who has the ability to write you a check!
The elevator speech was “invented” for speed. It’s meant to get you from the basement to the penthouse in 60 seconds or less. In my experience, it tends to focus on you and what you can do. Taking the stairs is a slower process, but a far more rich and rewarding one. It’s about uncovering the needs of the other person and agreeing how your expertise will benefit them. What you find is that people don’t take elevator speeches seriously because it’s akin to a pick-up line. They don’t trust you yet. Building relationships built on trust and value takes more time, but actually gains business faster.
The good news is that it’s not rocket science. In fact, it’s the way business has been transacted for most of mankind. If you follow my approach to creating value, you will find yourself better qualifying your audience, maximizing your time, and helping the other party find value in you.
Develop a value proposition
This concept has been hammered into my brain by my mentor, Alan Weiss, who is “one of the most highly respected independent consultants in the country” (New York Post). The value proposition is a clear statement of why someone would want to work with you, not how you do it. It’s methodology vs. value. Here’s an example comparing an elevator speech to a value proposition (Y=You and OP=Other Person):
Elevator Speech
OP: So, what do you do?
Y: I’m a life insurance agent. I help individuals just like you to protect your loved ones in the tragic event of your death. I represent thousands of companies and can get you the best price in the market? Do you currently have life insurance?
OP: I think this is my floor (It’s not, but they are ready to run)
Focus is on what the agent does, not on real value.
Dan’s Value Proposition
OP: So, what do you do?
Y: I provide peace of mind for my clients.
OP: Really? How do you do that? (Notice they haven’t jumped yet)
Y: Why don’t you tell me a little bit about yourself and I can better answer that for you?
And away you go in conversation…
Focus is on results.
Elevator speeches emphasize inputs or methodology. Value statements emphasize outputs or the value to other person will receive. You can’t possibly know what they value unless you ask questions and develop a trusting relationship. Prospect rarely care about process; they care about results.
The best way to create your value proposition is to ask these three questions:
You should know these, but if you need help, ask your clients. Use their words in forming your value proposition (plus you will have new testimonials).
This is a much more painless process than memorizing a self-absorbed elevator speech. It builds trust, creates results and is sincere. You can best help your prospects and be in better business shape by taking the stairs!
(Editor’s Note: Dan Weedin is a Poulsbo-based business consultant and coach who helps individuals and businesses to effectively communicate and influence, build better business teams, and significantly strengthen marketing and branding. He can be reached at dan [at] danweedin [dot] com, or 360-697-1058. Visit his web site at www.DanWeedin.com.)
