The bottom line is that an elevator pitch is extremely important and worth taking the time to develop so it is easily understood and projects exactly what it is that you do.

FORBES: How to Create an Elevator Pitch

However, one school has just taken a different approach with an innovative new contest -- the so-called Elevator Pitch.

CNN: Going up! The elevator pitch

After gathering all that information together they create a slide-show, a write-up, a stock template and quick elevator pitch of the company.

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Balancing strategic and tactical items can be challenging, the same way coming up with an elevator pitch your grandma can understand is a challenge.

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An elevator pitch is so named because it is delivered in the time span of a hypothetical elevator trip.

CNN: Going up! The elevator pitch

The evangelists for Tech City certainly deliver an impressive elevator pitch.

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The Demon system's success in controlling roll, one of the three axes of movement of a body in free space, is also leading engineers to wonder if the other two axes, pitch and yaw, might similarly be transferred to fluidic systems from, respectively, the elevator flaps on the tailplane and the rudder on the tail.

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If ever there were an elevator to pitch in, it was that one at the New York Public Library on that day.

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In other words, the first several bullet points or paragraph of your online profiles could be considered your elevator pitch.

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It is a popular concept -- earlier this year, students at Columbia Business School took part in a pitch competition in which the pleas for investment were actually delivered in an elevator, although these were filmed rather than having all the judges crammed inside as well.

CNN: Going up! The elevator pitch