What Should You Value More — An Investor's Money or Their Experience? On this episode of "Entrepreneur Elevator Pitch," a contestant has a very tough decision to make: Take the big money now, or gamble on bigger money later.
By Mackenzie Truman Edited by Jessica Thomas
Key Takeaways
- If you're in a crowded market, be sure your pitch explains how you differ from competitors.
- Be ready to share data that supports your projections for growth.
- Micro-influencers can be an impactful and affordable way to grow your customer base.
On Entrepreneur Elevator Pitch, every contestant is just 60 seconds away from a rise to greatness or a fall from glory. By the end of these nail-biting, stomach-churning episodes, some entrepreneurs walk away with business-boosting investments, and some go home empty-handed.
You never know how your nerves will hold up when it is your time to pitch, and if you get into the boardroom, you never know what kind of questions you will face or what problems will pop up. And on this week's episode, one entrepreneur faces what is considered to be a good problem to have: two investors battling for their business. One offers more money; one offers more experience. Which would you value more?
See which way they go on the new episode of Elevator Pitch, streaming now!Some important takeaways from this episode that all entrepreneurs can learn from:
- Chances are good that investors have heard similar ideas or may have already invested in a similar business. If you are in a crowded market, be sure to make clear the specific things that differentiate you from competitors.
- Know your numbers! Investors want to hear realistic projections for how you expect to grow — and how you will make them money.
- Think about incorporating microinfluencers into your marketing plan. They're more affordable and impactful than you might think.
Related: See What Left One Investor Exasperated on the New Episode of 'Elevator Pitch'
Season 10, 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
- Joe De Sena, CEO and founder of Spartan and Death Races
Season 10, Episode 7 Entrepreneurs
- K. Rocco Shields, founder of Genius Academy, a company valued at $10 million that uses AI learning simulations to teach the next generation of mental health practitioners.
- Sandy Goldman, founder of The Beer Bat, a bat-shaped drinking mug for stadiums.
- Ross Franklin, founder of Pure Green Franchise, a fast-growing juice bar franchise.
How to Watch
Amazon Business presents season 10 of Entrepreneur Elevator Pitch with support from State Farm. New episodes stream on Wednesdays on Entrepreneur.com. Follow Entrepreneur Elevator Pitch on Facebook, YouTube and IGTV.
