Developing Your Perfect Elevator Pitch

Selling your business in 60 seconds can be a daunting task, but it’s possible.

You have a short window to capture attention, generate interest and find new clients. Armed with exactly what to say and how to say it, you can go from a quick chat on the ground floor to a meeting in the executive suites.

At a recent conference in Toronto, networking coach Mark Greenspan ran an interactive session called The Perfect Pitch: Win New Business Everywhere You Go. Having worked with major brands like Salesforce, Deloitte and Google News Lab, his training programs help business pro get ahead in a competitive landscape.

We highlight what it takes to perfect your elevator pitch and turn a new contact into a lead.

Craft your elevator pitch

“A good elevator pitch should be no more than 60 seconds,” Mark states boldly. Even shorter, around 45 seconds, can make sure you pack a punch.

Come up with your one-liner elevator pitch before you go to a meeting, conference or just stepping out into the world. A top-notch elevator pitch should include your benefit statement – not just what you do, but what service you provide that differentiates you and makes you stand out. Within your pitch you can independently verify your expertise by saying who you’ve worked with and attached someone else’s credibility.

For example, a medical sales pro may have a pitch that goes something like,

“I provide North American enterprise companies cutting edge medical devices that have literally just come out onto the market. My focus is on medical imaging and skin grafting, and recently I’ve been helping the VPs of GE and Siemens access new product lines targeting their key verticals.”

Describe what you do and how you can help them in a succinct way. Then ask questions…

Be interested before being interesting

This was a common theme Mark highlighted, as “you have to be interested in what the person is saying and who they are before talking about yourself.”

Genuinely listen to what the other person says without thinking about what you’re going to say next. This active listening will help you connect with them, which will also make you memorable. Don’t worry about what to say next, as they’ll prompt you for information.

Act like you’re a journalist

Ask plenty of questions. It’s a little bit like being a reporter and finding the story.

In fact, Mark goes a step further to recommend not talking about yourself at all until you are asked a direct question. You’ll notice how challenging it is at first to hold back providing any information about yourself. Instead, you’re forced to ask additional questions and spur on conversation from the other person.

     Related: 7 amazing networking tips for every entrepreneur      

Find common ground

“Remember, networking is about making connections to see if there’s potential for a business opportunity there,” Mark advised the audience as they were practicing their elevator pitches with each other.

Start with conversation around something relatable like golf, football, the last place you vacationed, your alma mater or your family. Then move on to common ground like business pain points and what you’re trying to achieve over the next year.

This brings the pitch back to the benefit statement, making sure that what you say truly can offer assistance to your contacts. Commonalities can be the foundation for a trusted business partnership.

Connect on LinkedIn right then and there

Now this doesn’t work in every instance, but in the session, many people grabbed their smartphones and were connecting with each other on LinkedIn. When you have the time, this is a brilliant way to stay connected.

Offer to exchange business cards, but say, “Hey why don’t I add you on LinkedIn?” Make sure you have the right profile displayed and by connecting with each other in person, they’ll have a better chance of remembering who you are and what your elevator pitch promises.

End on an ‘ask’

Without an ‘ask,’ you’ve networked without any promise for future follow-up, Mark cautions. But the ask doesn’t have to be direct, and that’s the beauty of this tip.

In one example, Mark worked on the elevator pitch with an entrepreneur who owned a wedding videography company. The man’s original ask was, “Are you getting married anytime soon?” The audience chuckled, but many couldn’t offer a better question.

Instead, Mark suggested taking a different approach that’s more relatable. “What’s the worst wedding you’ve been to? It’s not a direct ask, but it gets you thinking. As a wedding videographer, this is the lead generation portion of your pitch.”

Asking a thought-provoking question that is related to your business offerings can be the perfect ask. It opens up the conversation and shows how you can help and be different.

 

make money

3 Cash Flow Nightmares & The Dream Solution

make money

New customer orders are a business owner’s dream. But the sleepless nights come when you’re waiting on payments. Getting paid on time, and earlier than ever before, is possible.

The 3 Cash Problems Keeping You Awake

In B2B, you likely invoice clients for large orders and collect on 30, 60 or 90-day terms. The quicker you turn these invoices into cash, the faster you can grow your business operations.

If your business is in high growth, you may have a lot of your money tied up waiting for those payments to come through. Or there could be times when customers don’t pay up on time, leading to poor cash flow and working capital that is stretched to the max. Your receivables have just caused a chain reaction of problems.

  • Problem One: Fulfilling orders. You get a big order but your money is tied up. Do you say no to that new customer?
  • Problem Two: Paying suppliers & taking advantage of discounts. You have your own accounts payable, but can’t pay on time. And suppliers will often provide timely discounts, but you don’t have the working capital to take advantage.
  • Problem Three: Paying your staff. Low cash can lead to payroll problems and your valuable staff walking out the door. The resulting turnover costs and headaches can be greater than ever expected. 

Can’t My Bank Help? Not Always…

Most business owners will first approach their bank for short-term financing, but banks could easily reject your request if it doesn’t comply with their criteria.

Without great credit, enough collateral, positive cash flow and a proven track record, getting working capital from a traditional lending institution is extremely tough, whether you’re a large enterprise or a newer SMB. Even if you are approved, by the time you receive your funds, your working capital might be exhausted long ago.

B2Bs have faced this dilemma for years, but there’s a financing option some business owners haven’t discovered called “Accounts Receivable Factoring” that can help solve these cash flow problems.

How Does Factoring Work?

If you’ve never heard of Accounts Receivable Factoring before, you’re not alone. But it’s been a standard financing practice in Europe and other developed nations for years. Liquid Capital specializes in it and has developed a world-class business to help you get cash in hand. Here’s how it works.

1.     You make a sale to your customer. (e.g. With a 30/60/90 term)

2.     You submit that invoice to your Liquid Capital Principal.

3.     Liquid Capital buys your invoice from you, putting cash in your business within as quickly as seven days.

a.     You’ll get 75% or more of the invoice value at this point. A reserve fund is held until step #5.

b.    At this point, the money is in your pocket and you can use it to wipeout your cash flow problems.

4.     Liquid Capital will collect from your customer on your behalf, which also alleviates strain on your internal A/R department.

5.     When the customer finally pays, Liquid Capital will refund you any additional reserve funds minus the discount fees.

how does factoring work

This process can fast track your cash cycle by anywhere from three weeks to three months or more! With faster access to working capital, you’ll be able to fulfill orders, take advantage of supplier discounts and pay your employees faster and more efficiently. 

A Long-Term Cash Flow Solution 

Liquid Capital is a market leader and works with you as a trusted partner, not as a one-time lender. We have over 80 trained Principals across North America who are business owners themselves, and they each work directly with clients to develop business relationships, face-to-face whenever possible.

A Liquid Capital factoring solution can give you cash up front for your sales, helps you spend less time and employee expenses on collections, and ultimately helps you graduate to a traditional bank loan option. The factoring process is so beneficial that many clients will choose to work with us alongside their banks for various financing options, depending on their needs.

We know that growth-oriented B2B owners don’t wake up in the morning thinking fondly about collecting on their accounts receivable. So as a business partner, we lighten your worries through financing solutions that put cash in your pocket. And better yet, it will help you get a good night’s sleep.

 

New financing options for Central Florida business

ORLANDO, FL (November 3, 2016) – Liquid Capital Solutions is pleased to announce their opening in the Orlando, Florida area, offering the small and medium-sized business community a range of financing products to increase working capital. Leadership is eager to work with the local businesses, in English, Spanish and Portuguese, who are in various stages of growth and require increased cash flow.

With over 25 years experience managing sales and running enterprise business, including deep roots in multinationals in the United States, Brazil and Europe, business owner and Principal, Ernane Iung, is thrilled to be operating in Central Florida. “There’s a lot of value I can add to small and medium-sized business space in the Orlando area. Having worked many years in Latin America and around the globe, I am looking forward to setting roots in Florida and building relationships with the local Hispanic and minority-owned business community.”

With restrictions in the banking industry creating difficulties for companies to secure loans and build relationships with their bankers, Liquid Capital Solutions is offering an alternative approach. Focusing on the goal of growing their clients’ businesses, the company will help finance transactions such as product orders and offer access to much-needed cash flow. With this increased flexibility, clients can then take on additional orders, pay employees with more ease and manage their operating expenses more efficiently.

“Healthy cash flow is critically important to business owners, and I know the uphill challenges that fast-growing businesses and start-ups face when trying to meet the stringent lending requirements of traditional lenders,” Mr. Iung states. “Having the experience in executive positions, I’m now looking forward to offering value for my clients and applying my expertise to improve their financial position. I believe in building long-lasting and lucrative relationships with local business owners, formed by trust and a shared passion for business growth.”

Robert Thompson-So, Liquid Capital Vice-President and Chief Strategy Officer, echoes this sentiment, “Seasoned professionals such as Mr. Iung are a distinct benefit to Liquid Capital clients. His history in the business world and commitment to customer success prove that it’s not just about finding the right financing, but partnering with people that genuinely care about the success of your company.”

About Liquid Capital

Liquid Capital is a full-service working capital and trade finance network and has been in operations since 1999. The Liquid Capital network has the largest geographic footprint of alternative funding professionals, with over 80 independently owned businesses across North America, offering clients a customized and flexible approach with local decision makers. We offer a complete range of solutions for all industries and provide immediate financing upon approval with no long-term contracts or hidden fees. At Liquid Capital, we help you grow your business.

To learn more about Liquid Capital Funding Solutions, contact

Ernane Iung
Liquid Capital Solutions
Orlando, Florida
Call: 407.734.4054
Cell: 407.968.1808
Fax: 407.734.4001
ernane.iung@liquidcapitalcorp.com
Website: Liquid Capital Solutions