Everyone in business needs to have a USP (“Unique Selling Proposition”).
The USP answers the question: “Why should I do business with you?”
It should be integrated in all of your marketing.
The concept of the elevator speech is similar, and understanding it will force you to refine your USP into a short, concise couple of sentences. The idea is, if you found yourself in an elevator with an ideal prospect or joint venture partner, would you be able to explain who you are, what you do, and why they should do business or partner with you before they leave the elevator?
Most people need help developing their own USP. If that is you, check out this site:
Through a series of exercises, the company has you get something down in writing, then helps you refine it.
Definitely well worth your time if your USP needs help.