„Elevator pitch“: What is it and how is it done?

The English term “elevator pitch” can only somewhat be translated into Czech. It refers to the idea that every salesperson should have a very brief, straight-to-the-point monologue ready which sums up everything about the product that is being offered, and at the same time engages the client to the extent that he / she wants to know even more. This pitch should be so short that the salesperson can say it to a stranger during an elevator ride. How can you prepare your ideal elevator pitch?