An elevator pitch is a short summary of your business and what you do that you can tell someone you're in the elevator with. It should be short enough that it lasts as long as the elevator ride, thus, "elevator pitch."
Do keep your audience in mind when you're formulating your pitch...My elevator pitch for non-decorators goes along these lines: "I make cake decorations and sugar flowers so that you can make people think you're more talented than you are." For decorators, I say something like "I sell decorating supplies, custom gumpaste flowers, and custom wafer paper for cakes and cupcakes."
Cake civilians aren't going to know what gumpaste or wafer paper is, but decorators will. It's a different angle for each group, but both pitches are short and get the point across.
You need an elevator pitch for the times when people say "What do you do?" Plus, an elevator pitch will give you an opportunity to tell people what's different about your business and why they should be interested in hiring or working with you. If someone says "What do you do?" don't reply "I make cakes." Tell them "I design and make custom cakes that are always baked from scratch so that you can avoid artificial ingredients." Or "I make custom wedding cakes that are individually designed for each couple." Make it personal to your business.
What's your elevator pitch? Leave a comment below.
Kara Buntin owns A Cake To Remember LLC, online cake supplies at www.acaketoremember.com and www.acaketoremember.etsy.com