Join our Waitlist for Expert Advice!

Entrepreneur Elevator Pitch Season 2 Ep. 8: Drop and Give Me Valuation On this week's episode of Entrepreneur's pitch show, the panel gets critical about whether the products in front of them can withstand competition.

By Lydia Belanger

Opinions expressed by Entrepreneur contributors are their own.

Among the questions investors vetting a new product or business idea have to answer, "Is there anything else just like this out there?" is among the most important. If it is truly unique, they then have to consider whether the entrepreneur has done their due diligence to make sure no one can steal the idea.

On this week's episode of Entrepreneur Elevator Pitch, our panel of prominent investors pose these questions and others to the entrepreneurs who try to entice them from inside the Entrepreneur Elevator.

Contestants have just 60 seconds to present their product as the next billion-dollar business idea while the elevator ascends. Everyone has their own style -- one guy in this episode even goes for the infomercial-style "But wait, there's more!" approach. When time's up, the judges decide whether they want to learn more and potentially invest. They come to an agreement about whether to open the Entrepreneur Elevator doors and invite the contestant into the boardroom -- or send them down with no deal.

Related: Entrepreneur Elevator Pitch Season 2 Ep. 7: Ready for Half a Million?

This week's products help travelers stick to their routines, curly-haired ladies tame their tresses, proud parents create keepsakes and more. With each, the judges have to decide, is there a business here? Is the entrepreneur's projected valuation realistic?

As judge and Sports 1 Marketing CEO Dave Meltzer notes during one pitch, "this could be a niche product." But it'll take more than a minute to be sure.

Watch the episode above, or on Facebook or YouTube, to see which opportunities the judges seize and which they pass up. If you think one of the entrepreneurs has the next billion-dollar idea, don't forget to check out our Entrepreneur Elevator Pitch landing page to support them via crowdfunding.

Lydia Belanger is a former associate editor at Entrepreneur. Follow her on Twitter: @LydiaBelanger.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

More from Entrepreneur Elevator Pitch

Did This Entrepreneur Find the Holy Grail for Burning Fat? Find Out What the 'Elevator Pitch' Judges Think.

How Is a Hologram Zoo Worth $120 Million? Find Out on the Season Premiere of 'Elevator Pitch.'

This Is the Tell-Tale Sign That Your Business Idea Is a Winner, According to Investors

Here's the One Word That Makes Investors Want to Hear More About Your Business

Business News

You Have One Month Left to Buy a House, According to Barbara Corcoran. Here's Why.

"If you are planning on waiting a year and seeing where interest rates go, you are out of your mind," Corcoran said.

Business News

These 3 Side Hustles Make the Most Money While Working Fewer Hours, According to a New Survey

The survey also found that having a side hustle doubled as a path to becoming more employable.

Side Hustle

I Made $14,000 in 1 Week With a Spontaneous Halloween Costume Side Hustle — Here's How

Sabba Keynejad was in art school when he started to refine his entrepreneurial skills.

Business News

This New Restaurant Is Banking on One Dish — Because It's the Only Entrée on the Menu

The new hotspot is gaining buzz on social media for its innovative yet super simple concept.

Leadership

4 Bold Leadership Moves Every Successful CEO Uses to Navigate Change

Ready to turn fear into fuel and lead with confidence? In this article, I share how leaving my corporate job without a plan led me to build a thriving business. Learn four bold strategies to embrace uncertainty and turn challenges into opportunities for growth today.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.