What is an Elevator Pitch?

In this first episode of Season 2, Maryanne discusses the high-stakes game of the Elevator Pitch: it's something we're all doing frequently but it can be hard to get it right.
Whether it's at a conference, an exhibition stand or a dinner party, we use the Elevator Pitch formally and informally so it's important to make it work for your audience and work for you.
How do we create a structure that is clear and creates impact for everyone? Is there a formula for getting it right?

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Thank you for listening.