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elevator bankWhen I first started attending panels and VC events, there was a lot of hype around the concept of an ”elevator pitch”. An elevator pitch is an overview of a new business idea that an entrepreneur can explain to an investor in the length of a chance elevator ride shared by the two parties. In approximately one minute, the entrepreneur needs to bait and hook a VC so that he can reel the investor in later.

At business plan competitions and pitch events, “pitch coaches” spent hours with entrepreneurs sharing with them the secrets of the arcane art of the elevator pitch. And once their disciples were fully indoctrinated, the newbies would get to show off their elevator pitching skills. Most entrepreneurs are trained to pack as much information as possible into that minute, driving most pitches to sound like they were being delivered by the spokesman for MicroMachines.

To read the full, original article click on this link: Entrepreneurs: The Elevator Pitch Is Dead

Author: Mark Peter Davis