Could you describe your company in 60 seconds? They call it the elevator speech, or elevator pitch, and it’s a good exercise.

I was there last Thursday to hear these two pitches, two of the best from 16 one-minute pitches at the University of Oregon’s New Venture Championship. These are good examples of classic elevator pitches, limited to 60 seconds.

The first, from Visiray, a team representing the University of Oregon:

And the second one, KarmaGoat, from UCLA.

It’s a good exercise. Whether it’s for an elevator speech competition, a real ride up a real elevator, explaining what you do to the person in the seat next to you on the plane, or just for your own satisfaction of getting it all down in a short-and-sweet one-minute pitch, I think every business owner should be able to do that.

By the way, I did a four-part series on my main blog on how to optimize an elevator speech.

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Tim BerryTim Berry

Tim Berry is the founder and chairman of Palo Alto Software and Follow him on Twitter @Timberry.