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Running the Gauntlet by Jim Eber, Jeffrey W. Hayzlett

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Chapter 16Mastering your 118 (a.k.a. elevator pitch 2.0): a step-by-step primer

WHAT IS A 118?

A 118 is my twenty-first-century version of what some people used to call the elevator pitch, an out-of-date name for a worthy idea that you must sell what your company offers (and yourself) in the span of an elevator ride. The name comes from the 118 seconds you actually have to pitch a prospect: 8 seconds to hook ’em and up to 110 seconds to reel ’em in.

What You Must Do in That 118 Seconds

• Grab the attention of your prospect, be it a client, investor, or potential employee.

• Convey who you are.

• Describe what your business offers.

• Explain the promises you will deliver on.

WHY YOU NEED A 118

You need speed and immediate relevance. A compelling, ...

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