What is an elevator speech?

An elevator speech is a brief answer to a question about what you do (or your company does) that is aimed at grabbing attention from the listener so they want to follow up with you and find out more.

It derives from the 30 seconds or so typically available to answer the "what do you do?" question between floors in a elevator ride.

It has a number of applications. Typically it is used by job seekers to explain the sort of role they are seeking, businesses to grab the attention of potential clients and referral partners, and entrepreneurs seeking backers or investors (when it is typically referred to as an elevator pitch). Other names for an elevator speech include "30 second introduction" and "30 second infomercial"