What is the purpose of an elevator pitch?

An elevator pitch is designed to summarize a business proposal concisely and compellingly, ideally in the time it takes to ride an elevator, which is typically about 30 seconds to 2 minutes. The goal is to communicate the core idea or value of the business clearly and engagingly, making it easy for listeners to understand the main points and benefits without delving into lengthy details. This pitch is beneficial in networking situations or when seeking investment, as it helps spark interest and invites further conversation.

The other options involve longer formats or reports, which go beyond the concise nature of an elevator pitch. A lengthy presentation or detailed business report would not effectively capture the immediate attention of an audience, which is a primary goal of an elevator pitch. Engaging in a lengthy discussion is also contrary to the purpose of an elevator pitch, which is to be brief and to the point, ideally leading to more in-depth conversations later on.