Stage 1 Setup
Your Elevator Pitch
An elevator pitch is a brief, persuasive speech that you use to spark interest in what your organization does. It’s an opportunity to close more of your prospect’s attention and time. It’s a quick introduction to you, your company, and how you can help your prospect. If you were to speak it out loud, it should last no longer than 30 seconds (a short elevator ride).
It can include details about:
- Who you are
- What you do
- How you do it
- What makes you unique
- The results of your work
Your Mission Statement
A mission statement is a concise explanation of the organization’s reason for existence. It describes the organization’s purpose and its overall intention.
The mission statement supports the vision and serves to communicate purpose and direction to employees, customers, and stakeholders.
It’s also something you can refer to whenever you’re setting goals, or making a big decision about your business.
Your mission statement can include your:
- Core values
- Methods of achieving your goals
Starbucks: To inspire and nurture the human spirit – one person, one cup and one neighbourhood at a time
Nike: To bring inspiration and innovation to every athlete* in the world *If you have a body, you are an athlete
Westjet: To enrich the lives of everyone in WestJet’s world. We’re proud to have won awards that show us you think we do
Your Vision Statement
A vision statement describes what a company desires to achieve in the long-run, generally in a time frame of five to ten years, or sometimes even longer. It should communicate your business’ aspirations and motivate the audience.
Your vision statement might be:
- Motivating and inspirational
- Reflective of a company’s culture and core values
- Aimed at bringing benefits and improvements to the organization in the future
- Defines a company’s reason for existence and where it is heading
McDonald’s: “To move with velocity to drive profitable growth and become an even better McDonald’s serving more customers delicious food each day around the world.”
Disney: “To entertain, inform and inspire people around the globe through the power of unparalleled storytelling, reflecting the iconic brands, creative minds and innovative technologies that make ours the world’s premier entertainment company.”
Bombardier: “Our mission is to be the world’s leading manufacturer of planes and trains.
We are committed to providing superior value and service to our customers and sustained profitability to our shareholders by investing in our people and products.
We lead through innovation and outstanding product safety, efficiency and performance. Our standards are high. We define excellence—and we deliver.”
Your Target Audience
It’s important to have a well-defined target market audience makes marketing easier, more affordable, efficient, and generally effective.
Some ways you can define your target audience/ideal customers:
1) Look at your current customer base
- Who are your current customers?
- Why do they buy from you?
- Do they share common characteristics or interests?
- Are they a common age range?
- Do they have a common occupation?
2) Look at your competition
- Who are your competitors targeting?
- Who are their current customers?
- Can you target a slightly different audience? You may find a niche market that they are overlooking…
3) Choose specific demographics to target
Who has a need for your product or service?
Who is most likely to buy it?
Think about the following factors:
- Income level
- Education level
- Marital or family status
- Ethnic background
3) Consider the psychographics of your target
Psychographics are the more personal characteristics of a person, including: