Action Item: Write Your Elevator Pitch

Your elevator pitch, or elevator speech, is your response to the classic question, “So, what do you do?” Your answer to this question should never be, “I do taxes”, or “I’m a CPA”, or worst of all, “Uhhhhhhhhh…..” Ouch!

Your elevator pitch helps you to communicate the kind of clients you’re looking for. It should be specific, and have a purpose. It should not be generic. You want people to be thinking about who they can refer to you when they hear your elevator pitch. You want them to evaluate their own life against your pitch to determine if they’re a prospect for you. Not everybody should be your client — this is a filtering mechanism.

My old elevator pitch was very straightforward: “I help mom and pop small business owners with tax debts to screw over the IRS.”

Straight, simple, and to the point.

Action Steps

Estimated Time: Less than 10 minutes.

Here’s how to write your elevator pitch:

1). Identify ONE specific target market that you’re looking to serve. I preferred working with family owned small businesses doing a few million a year or less. Thus, “mom and pop”.

2). Identify ONE specific service that you are looking to focus on for your target market. I have always been a one-trick pony, and focused solely on IRS Collections representation within my tax practice. It’s really all I know how to do, and so it was easy to target the service. By saying “tax debts”, I’m specifying the exact service.

3). Identify ONE benefit you bring to the table. My clients in rural western America were predominantly blue collar, Republican, and generally frustrated with the IRS. “Screw over the IRS” clearly illustrates the end goal, and uses language that resonates with my target market. It also clearly communicates that I’m on their level, and won’t be one of those people that makes them feel bad about being in debt to the government.

In summary: One target market, one service, one benefit.

Additional Examples:

  • “I help new homeowners realize the full tax savings from their new investment.”
  • “I show political candidates how to sound like a genius when discussing tax policy.”
  • “I show medical practice owners how to minimize their tax bills.”
  • “I work with Realtors and their clients to clear up tax lien challenges so that everybody can get to closing.”
  • “I maximize the value that retiring accountants extract from the sale of their firm.”
  • “I help Millennials to maximize the value of their future nest egg while minimizing current taxes.”

Take the time to write your elevator pitch. Don’t you agree that it’s better to have this one-sentence answer created ahead of time, rather than fumbling through an unproductive explanation of what you do for a living every time you’re asked?

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See also  The Only Three Ways to Increase Profits