Posted by Jason Wheeler | New here? Read our feed
When you are an entrepreneur or a Real Estate Investor it can be very difficult to ask that age old question “What do you do?” One of my favorite blogs and a good mentor to anyone that builds their business by referral has some pretty good advice on how to address this simple but not always easy question. The best thing I’ve found is to have a super effective elevator pitch or speech.
When someone asks you what you do, what are the first words out of your mouth? If the words aren’t ready to roll off your tongue, then read on . . .
When someone asks you what you do, make sure you’re ready with a response that is succinct but memorable. The attention span of the average adult is only 20 seconds; a long, drawn-out answer to the question isn’t going to work. You need to develop an effective elevator pitch.
Focus on creating a unique selling proposition (USP)–a mini commercial that you can readily use while networking. I think of this as a personal answer to the age-old “Whattaya do?” question, which we’ve all been asked about a million and a half times.
Many in business call this the Personal Infomercial or and Effective Elevator Pitch. (You should get your point across in the time you take an elevator with someone)
What an “Elevator Pitch” is not:
It is not a “sales pitch.” on your product or service. A great formula that I have found effective that can work for just about any business can be found in these simple steps.
What an “Elevator Pitch” Is
To me a truly effective elevator pitch is a quick way of finding out if you can strike curiosity into the person you are talking to in order to create a referral, connection or an appointment.
4 Simple Steps to Creating the Perfect Elevator Pitch
- Identify who you can help by starting with… I show people who (need to save money, want to buy real estate, want to own their home, can’t get a mortgage,)
- Identify what you can help them with…. how they can (increase their revenue, income, own a home, pay less on their mortgage)
- Identify why they can benefit... so they can (have more time freedom, enjoy home ownership, reap tax benefits, spend more time with family)
- Ask if they know anyone like that… end with a question or ask for a referral.
Here is a finished example of an effective elevator speech:
I use this all the time in the current real estate market. Let’s say I’m having a casual glass of wine and unwinding at the local restaurant and I strike up a conversation. Very often the conversation leads to the age old question “What do you do?”
So the End Product Looks Like This…
I could say… “I show everyday people how they can buy real estate and get the lending they need without the hassle of a retail bank, so they can enjoy home ownership and all of it’s benefits… Do you know anyone that would love to buy real estate at it’s lowest levels in years?”
Or somthing like…
“I show business owners how they can have a website set up for free so they can get found easier online and create more leads and closed business.. Do you have a website that works for you?.”
Or Maybe this…
“I show people who need more time and money how to launch a full time online income so they can spend precious time with their families and take more vacations… Do you know anyone that is looking for more income today?
You would be surprised on this one liner will open a conversation, create a referral or maybe the person you are talking to would love to learn more.
The point is it is not hard selling and it opens a door for somebody to learn more about you. I promise if you use this formula in your business you will have more success. Try it out for a while and let me know what you think.
If you find this information helpful please share it with you social networks, tweet it and feel free to ask me questions or add your own Elevator speech style in the comments section below!
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Until Next time Here is to your success! Jason Wheeler 925-285-2172
Leave me a Comment Below. If you found this article helpful PLEASE share this on Facebook and your Social Networks!
Until Next time Here is to your success! Jason Wheeler
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A very interesting subject.
I have written your example in order to not forget it.
Gaetan Tardif
I think getting your elevator speech right is one of the hardest things most people try to do. Your tips are excellent and to the point. Thanks.
Sharon
My favorite one that I have heard for a realtor, is “I help love birds find their nest” Personally it is something that I am constantly refining.
Thanks for the suggestion Marylee. I love your one liner! What city do you mainly practice real estate in?
I appreciate your comment Sharon! The elevator speech always needs to be refined and changed for whom you are talking to. I've had great success with this formula.
I like the way you have broken this down – my pitch needs refining and I will use these prompts to help me do just that!
Thank you Michelle for the compliment and I'm glad I can help. I like the work on your site. What city and state is your practice in?
What kind of business will you be using this for? How have you been finding people to get in front of?
Jason, rather than sharing this on my facebook or twitter, could I reprint it in our REIA newsletter – with credit to you of course. We are doing speed networking at our meeting this month and this article will help the members get their pitches ready.
Kim you are more than welcome to feature this article in your news letter. If you would reference my site that would be great. Also it would be a great help if you spread this around a little with a retweet or facebook share. Thanks so much and I'm glad you've found some value in what I have to share.