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Home » GPS Tracking Blog & Software News » Why Your GPS Business Needs an Elevator Pitch
November 21, 2013

Why Your GPS Business Needs an Elevator Pitch

ElevatorIt is nearly impossible to sell a service you can't articulate. Even when the results of the technology speak for themselves, your business will still need to have someone to speak for it. Finding the right phrasing and positioning for a company is incredibly challenging, but knowing the right words to say will help you sell more by shortening the gap between when you introduce your company to a new prospect and when they start to see how you will help them.

Famous pitches include Google's mission to "organize the world’s information and make it universally accessible and useful" or Amazon's mission "to be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices.”

What is it?

An elevator pitch is the short speech or statement that gives an informative and enticing overview of a business, product, or service along with its unique value proposition. Putting together this short elevator pitch is a challenging but necessary step in preparing to launch your GPS tracking business. Most good elevator pitches allow listeners without special expertise or industry knowledge to still get the gist of what the business does, what it offers its clients, and why they should want to hear more.

The term "elevator pitch" evokes the idea that it should be something that one could easily share during a short elevator ride, around 30 to 90 seconds. Getting over the awkwardness of talking to strangers in an elevator aside, developing and perfecting an elevator pitch is an essential part of launching and developing any business. It's useful for explaining the company to potential customers, investors, and employees. It's even useful for explaining to family members what you're spending so much of your time doing.

The elevator pitch does not need to contain every detail about your offering. In fact, it shouldn't. If the short pitch inside the elevator goes well, there will be a follow-up meeting or further conversation. Salespeople and politicians have their elevator pitches rehearsed and polished to perfection. However, business owners need to have their pitch ready too. They have to have it ready even before they start pitching their company to potential customers, employees, or investors.

Developing the elevator pitch early is an important part of defining and focusing the specific niche of your business. In an effort to hook customers and achieve mass appeal, many business owners will fall into the trap of believing that their products must be for everyone, that they must focus on providing GPS tracking services to every business with a vehicle. Obviously, this is not focus at all and many of these entrepreneurs will flounder because they don't know who their real customers are. Just as a GPS system can provide the best route for where you want to go, a well-developed elevator pitch can give you a focused understanding of what you want your business to do.

An elevator pitch is similar in some respects to a mission statement or vision statement. However, the elevator pitch should focus less on what a business is or wants to be and more on what it does for its customers. If it takes you too long to explain your business, you'll lose your audience's attention or dilute your message. Avoid jargon. It makes your message less clear both to you and your audience. The goal of your elevator pitch, even after you've launched your business, is not to close a deal or to show how smart you are. The goal is to start a conversation.

If you have an idea for a GPS tracking business, start working on your elevator pitch. It will make finding your niche market, discovering new customers, and focusing your efforts on the right opportunities that much easier. Also, sign up to receive a free demo of Position Logic's GPS tracking platform. It has all the features GPS tracking companies need to launch their business.

Photo Credit: Greta PPP via: imager.io, cc