How This Entrepreneur Secured $200,OOO Investment for an App Transforming Mental Health One Breath at a Time Max Gomez, co-founder and CEO of Breathwrk, discusses his winning strategy on 'Elevator Pitch.'
Entrepreneur Elevator Pitch is the show where contestants get into an elevator and have just 60 seconds to pitch their business. Our board of investors is watching, and if they like what they hear, they open the doors and the entrepreneur steps into the boardroom to try to seal the deal. If they don't like what they hear, the entrepreneur gets sent back down.
It's fun, it's intense, and in this ongoing article series, we're celebrating the entrepreneurs who walked out with a win and sharing their tips for pitching success.
Who are you and what is your business?
Hi, I'm Max, co-founder and CEO of Breathwrk. It is our mission to make mental fitness accessible to anyone, anywhere at any time. The Breathwrk app is an award-winning breathing coach in your pocket that has been proven to improve anxiety, energy, focus, and sleep. We have over 27,000 paying subscribers and over 200k monthly active users. Breathwrk also built a massive online community with over 3.5 million followers across its social channels and has over a billion views on all of our content.
Related: Watch Max's winning pitch
How did you prepare for the show?
I only prepared for the 60-second pitch because I knew if I made it into the boardroom I could answer any questions the investors could have. We have raised capital for the business before and have heard the toughest questions. We have never pitched in 60 seconds! It was fun to prepare for the time confines.
What did you think was going to happen? What was different from your expectations?
I viewed the show as an opportunity to grow so I wasn't too focused on the outcome. It was fun to do something uncomfortable and bring the brand to more people.
Why do you think they opened the doors?
I think they understood the value and mission of the company and appreciated the traction we have made.
Related: Here's the Difference Between a Pitch That Nets a $100,000 Investment and One That Nets $0
How did the negotiations go? Would you do anything differently?
The negotiations went better than expected. We had little pushback on valuation and wound up with Marc Randolph investing $200k.
What do you plan to do with your investment?
We plan to continue to improve our product so we can improve more lives worldwide.
What did it mean to you personally to get in the doors and walk out with a win?
It was a major moment for me, given that just 3 years ago I was dealing with extreme depression and anxiety. Back then I couldn't have predicted I would have made it this far.
Related: Watch the Pitch That Results in Life-Changing Investment and a Lot of Tears
What is your advice for anyone thinking of applying to be on a future episode?
Prepare for the 60-second pitch, but most importantly have fun and love the business you are running!
