One of the most important things a businessperson can do—especially an owner or someone who is involved in sales—is learn how to speak about their business to others. Being able to sum up unique aspects of your service or product in a way that excites others should be a fundamental skill. Yet many executives pay little attention to the continuing development of “the elevator pitch“—the quick, succinct summation of what your company makes or does.

That’s too bad, because the elevator pitch—so named because it should last no longer than the average elevator ride—is far too important to take casually. It’s one of the most effective methods available to reach new buyers and clients with a winning message. True, you may not actually be doing the pitching in an elevator, but even if your meeting is a planned, sit-down event, you should still be prepared to capture your audience’s attention quickly.