What is the purpose of an elevator pitch?

The purpose of an elevator pitch is to engage interest in a brief time. This concept is designed to convey the essence of an idea, project, or business very concisely, typically within the duration of an elevator ride, which is why it is called an "elevator pitch." The goal is to grab the listener’s attention quickly and create enough intrigue that they want to know more or continue the conversation.

While providing extensive detail about a business might be important in other contexts, it contradicts the primary objective of an elevator pitch, which is brevity. Soliciting investor feedback and analyzing competition are also roles that might occur in business discussions but fall outside the focus of an elevator pitch, which is primarily to create interest and potential opportunities for further dialogue.