'Elevator Pitch' Meltdown: Watch the Moment That Broke This Entrepreneur's Brain On this episode of 'Entrepreneur Elevator Pitch,' an investor makes an offer that leaves a contestant speechless.
By Mackenzie Truman Edited by Jessica Thomas
Key Takeaways
- Don't sell it, tell it. Investors don't want to be treated like customers. Explain how your business works and how it is going to make them money.
- Every great company starts with a simple question: "What can I do to fix this problem?"
- Do you have an amazing concept? Don't spend your time and money on patents until you find out if people will buy it.
Welcome to another episode of Entrepreneur Elevator Pitch, the show where entrepreneurs looking to uplift their lives must prove to our elite panel of investors that they have what it takes in 60 seconds or less.
As many of our contestants learn, getting your pitch out in time is no easy task — but sealing a deal can be even harder. Our board of investors comes at them with all kinds of questions, digging into their costs, marketing strategies and sales traction (or lack thereof). On this show, you have to know your numbers — and be able to think fast — if you want to make it out with a life-changing deal.
Related: A Near-Tragedy Spurred This Dad's Invention — Now Worth Millions
If you're planning to make a pitch to investors in the near future, you'd be wise to take in these valuable words of advice from Marc Randolph, co-founder of Netflix: "When you're making your pitch, I want you to tell it, not sell it. Sure, describe your product, but I'm not your customer — I'm an investor. I want to know that other people are going to like it. I want to know how that's going to make my investment profitable. And most importantly, I want to see that you have the chops to make your business work."
Find out who makes it into the boardroom and comes out with a deal on an all-new Entrepreneur Elevator Pitch!
Season 12, Episode 7 Board of Investors
- Marc Randolph, co-founder and first CEO of Netflix, master of scaling
- Kim Perell, CEO of 100.co, serial entrepreneur and investor
- Dhani Jones, former NFL player and serial entrepreneur
Season 12, Episode 7 Entrepreneurs
- Khalid David, founder of TracFlo, an online platform that provides a central location to input, track and approve changes to project costs for subcontractors, general contractors, designers and owners
- Seena Chriti, founder of Paktli Foods, gluten-free, organic puffed quinoa and ancient grain snacks
- Jasmine Johnson, founder of Parent Co, innovative electric outlet covers for baby childproofing
How to Watch
Season 12 of Entrepreneur Elevator Pitch is presented by Amazon Business. New episodes stream on Wednesdays on Entrepreneur.com and EntrepreneurTV. Follow Entrepreneur Elevator Pitch on Facebook, YouTube and IGTV.
