Have you ever gone to an expensive seminar where they told you to develop your elevator speech? Don't do it!
You guys, we have all been on an elevator. Think about it - the only "speech" anybody likes in there is a question or a compliment. Because showing genuine interest in another person is the only way to really connect, right?
Nobody likes the person who bloviates about her "value proposition." That's boring.
Everyone responds, however, to genuine, infectious enthusiasm. True zeal is hard to resist. It causes people to get curious, to ask you questions, and to be interested in the answers. When you go about fundraising this way, donors thank you for your enthusiasm for your own darned cause!
So don't worry about an elevator speech.
Do think about how to fall more in love with what you do. And be ready with a single, powerful sentence that says - literally, physically - what your org accomplishes. So that when someone asks (because you've connected, and now...