Elevator Pitch Competition For current Saint Mary's students IMAGINE THIS... You're an up-and-coming entrepreneur. A well-known business person approaches you and asks for an "elevator pitch" on your new product or service. What do you do?! Well, because you entered the Kabara Institute's Business Idea Elevator Pitch Competition, you not only know what that means, but you're a seasoned pro at delivering your business ideas in 60-90 seconds, the time it takes to ride an elevator. You do just that, and the potential investor wants to sign on! WHO SHOULD ENTER? Any undergraduate Saint Mary's student of any year of any major who has an idea for a new business; Students interested in enhancing their presentation skills; Students who want to explore the idea of starting a business. OKAY, I WANT TO ENTER... NOW WHAT? Information for Elevator Pitch Competition To register please email firstname.lastname@example.org by November 3. The elevator speech should: Identify yourself State the company, non-profit organization, program or event name Identify your proposed role or position State your mission (What outcome do you want to achieve?) Identify your market niche or target market, client or community you seek to serve (To whom will you be selling or promoting this product/service/event/non-profit?) Identify your competitors or the need (Who else does something similar or what is not being done?) Identify your competitive advantage or why customers or clients may choose your alternative over others (Why will customers/clients choose you over competitors?) State the purpose of your request (How much money, what kind of support (financial or verbal) or what expertise do you need?) State your contact information (How would someone reach you with questions?) These are the factors that the judges will consider when evaluating your entry: The Concept (5 possible points) Is the concept creative, financially feasible, and able to fulfill an identified need? Content of the speech (10 possible points) Does the contestant clearly: Identify themselves and the organization, company or event, Communicate the “big idea,” the mission and market niche, Ask for appropriate assistance and present follow-up details? Delivery (10 possible points) Does the contestant demonstrate confidence and energy, Use appropriate body language and eye contact, and have good articulation and rate of delivery? Notes MAY NOT be used during the presentation. Overall Effectiveness (5 possible points) Do you want to “buy in” to the idea, based on the presentation? PENALTY OF 3 POINTS FOR A SPEECH THAT IS LONGER THAN 100 SECONDS. Sample Elevator Pitches + More My name is Joe Smith (identify yourself) and I will be starting a company called Joe’s Sport Shorts. I will be the owner and manager of this business (your role in business). My company will contract with young musicians to write 30 second songs used as fight songs or chants at sporting events. Our purpose is to get the crowd excited (mission). These songs/chants will be burned to a CD or available as MP3 files and sold to sports organizations, colleges, etc. for use in promoting their sport events (target market). The competition to this product is the existing fight songs or mainstream music that is used as sport crowd motivators. The songs/chants written and sold by Joe’s Sport Shorts will be more effective as they will have been written specifically for the purpose of sport crowd motivation and can be written to length of time, 30-45 seconds, needed for breaks in sporting events (competitive advantage). I need $10,000 to start this business for the upfront organizational costs, musician royalties, and promotional costs (how much money I need to start the business). I will also need some legal expertise related to intellectual property and copyright laws. You can contact me by phone at xxx-xxx-xxxx or email me at email@example.com. My name is Mary Jones. I would like to organize and run a fundraiser for my favorite charity, Big Brothers/Big Sisters. My tentative name for this fundraiser is “Hope for Tomorrow” and I want to be able to raise $10,000 by producing a play in the Page Theatre at Saint Mary’s. The play will run while the University students are on break, so the facility will be available. I know that there are lots of charities that are trying to raise funds, but this will be different because we will be able to involve the people who are involved in Big Brothers/Big Sisters in the cast, and that should help us get a bigger audience. We will also be able to sell advertising in the programs, and that will generate additional revenue. I’ve had some theater experience, and I know people who know how to stage a play, but I could use some help with some of the financial projections and marketing for this. Would you like to become involved? Please call me – my number is in the phone book, listed as MJ Jones. Check out this video and get a head start on your winning pitch! This video shows more samples.