Learning The Elevator Pitch
The Wrong Way Everything in life has a right way and a wrong way. The best way to teach either is to give examples from real life. The same holds true of an elevator pitch, which is your way of explaining which job you want to do and what city or industry in a positive, succinct, and tidy little package of words.
Why is it called an “elevator pitch?” Imagine you are in an elevator with Microsoft’s Bill Gates. You have only the amount of time it takes for that elevator to whisk you to the next few floors to explain to Bill why you would be a very valuable asset for Microsoft. This means you need to have figured out ahead of time what you want to do and where-and be able to explain it to others quickly.
You may know that you saved your last employer $500,000 by improving a workflow process. Your spouse may know that you caught an audit error of $400,000 for a major client. Your mom may know that your streamlined your employer’s international tax department, saving the company $700,000 but your new employer has absolutely no idea you have accomplished any of that. You need to be able to:
* Explain your accomplishments very positively and very succinctly (in terms of money saved or money made for the company). * Explain why you are good at what you do (based on education or experience). * Share your goals for this new position. * Edit out the boring blah blah blah. * Aim to accomplish your elevator pitch in 30 seconds. * Close by asking the listener for help.
Practice your elevator pitch with everyone you meet-mingling at the Chamber of Commerce mixer, during fellowship after church, interacting at your college reunion, or talking to a recruiter. The person you speak with next may be the person who connects you to your dream job.
There are more wrong elevator pitches than then there are right ones. You might want to look at the wrong ones so you can run in the opposite direction.
The Wrong Elevator Pitch…and Why Too vague and unfocused: “Oh, I’m looking for anything in accounting.” Does that mean you’ll take a job at Liberty Tax preparing tax returns for the employees of Jamba Juice?? Maybe not….
Explaining why you are leaving but not explaining your goals: “Gosh, Dave, with the Senate investigation of Goldman Sachs, I think it’s time to get out of the derivatives industry. Maybe someone will want to hire me. After all, I’ve got an MBA from Stanford and ten years in finance.”
Speaking ill of the last boss instead of taking the opportunity to explain how you can help a new employer: “I have a new boss who is completely unreasonable-I really need to get away from him before I become negative too.” (It appears the new boss’s negativity has already permeated your thinking. Bad sign for new boss….)
The error of rambling about the challenges going on in your current office and not keeping your message succinct and focused on your capabilities: “It’s so confusing and awful right now. Since I’m actively job hunting, I’ve been researching other companies and it seems that every time I get close to applying, there’s an accounting scandal or some really negative press. There’s a great job at British Petroleum, but boy! Now is not the time to apply!
I worry about making the wrong choice and I’m scared to do anything at all. But, where I work now is so depressing-the people whine, the lights are dim, and the place is laid out in manner that only a prairie dog could love! At my level, I’m still sharing an office with two other people! Who ever heard of that!!! Sheesh! And then my boss is riding me and I really dread coming into the office every morning….” And the whining continues….
If the person to whom you are talking walks away more depressed than when you started the conversation, you have utterly failed. Knock it off. It is very likely that you have friends, parents, or a significant other to whom you can vent safely. Venting to a potential employer or someone who could connect you to a potential employer is NOT wise.
In World War II, there was a proverb, “Loose lips sink ships,” meaning that the enemy was alert to any innocently revealed piece of information about troop or ship movements. The same proverb applies to the elevator pitch: if you do not watch your loose lips, you could sink the ship of your career dreams.
The Right Way What is an “elevator pitch” and how can it help you get hired faster? Good question and here is a good answer: Imagine you are in an elevator with Microsoft’s Bill Gates. You have only the amount of time it takes for that elevator to whisk you to the next few floors to explain to Bill why you will be a very valuable asset for Microsoft. This means you need to have figured out ahead of time what job you want to do-and be able to explain it to others quickly.
The elevator pitch is an arrow which has long been in the quiver of sales professionals and is used to see if there is any reason to pursue a full-blown sales call. If you are selling World Book Encyclopedia, this is great elevator pitch: “Are you interested in helping your kids get better grades in school which could turn out to be more scholarships and free money for college?”
Parents who are interested will ask, “How?” This opens the door for sales presentation. As a job hunter, you are the salesperson and what you are selling is your set of education and experience. By giving your elevator pitch, you are one step closer to connecting with a decision-maker, setting an interview, and getting the job offer you want.
Since you are probably not selling World Book, what does a good elevator pitch look like? It should cover a combination of these points: * What achievements do you hope to accomplish at the next job? * What are you willing to do to accomplish your goals? * What are you looking for at this stage? o A higher salary? o Greater job security? o More time to spend with your family or pursuing your interests?
* To achieve one (or more of these), are you willing to contemplate changes to your current situation and the effort needed to accomplish your goals? * Are you seeking to change any of these factors? o Your employer o Your job function o The industry in which you work o The location (Do you want to move from Connecticut to Virginia?) o Company Size (Would you rather work for a Fortune 500 or a start-up?) o Your compensation package.
Do NOT try to cover all of these in your pitch. You can’t. You may be able to cover up to three. First, you need to understand what you want in your next job. This may take some time and discussions with your family so that when you make this career move, it benefits everyone. * Change of location: if your daughter has been accepted to UCLA and her tuition will drop from $22, 021 to zero if you become California residents, that might be a good reason to move to anywhere in the state of California. * The “fizz of new projects:” some people thrive on this and are constantly seeking a new project or company where they can make a difference. * Job Change = Promotion: During the exquisitely exciting employment days of the Dot.com explosion in Silicon Valley, common practice was to take a job offer for a better position and salary rather than express your loyalty to the current employer by waiting for your annual review. Even though times are not as robust in 2000, a job change is still a very viable way to get a promotion and salary increase. Here are a few examples of the right way to present an Elevator Pitch: “For family reasons, we’d like to move to California. I’ve had a successful career with a Florida non-profit where I developed accounting policies which increased organizational efficiencies while protecting resources. I’m looking for a similar non-profit where I can demonstrate my expertise in managing financial returns and guiding the grant process from proposal to award.” (Job opening: Aquarium of the Pacific CFO/VP Finance in Long Beach, CA.) “I’ve really enjoyed developing the accounting systems for a mission-driven high-tech start-up here in Pasadena. I’d like to find an opportunity at a growing venture-capital backed start-up where my skills in building internal controls, applying GAAP principles, and working cross-functionally would make a real difference.” (Job opening: Staff Accountant/CPA at Greentech Start-up, Waltham, MA.)
“I’ve been in international tax management for the last eight years and have progressed through roles with increasing responsibility. I’m looking to join a firm as their International Tax Director where I can lead a team as we build an international tax presence and develop my reputation as a sought-out technical specialist who attracts new clients to the firm.” (Actual job opening: International Tax Director in Chicago, IL at $250,000.)
No one expects to walk out on the stage at the Metropolitan Opera House and sing an aria on pitch without practicing. So too it is here. You can’t expect that you will be able to give an effective pitch unless you delineate what you want to communicate, edit it down, and practice. For most of us, honing an effective pitch takes time and effort. “Less is definitely more.” By being brief, you can communicate effectively your accomplishments and your goals to everyone you meet. Unless you speak up, no one will know how valuable you are and how much you can contribute.
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