Get All Access for $5/mo

Is It a One-Hit Wonder or Can This Mom's Business Scale? On the new episode of "Elevator Pitch," find out how much investors are willing to bet on first-time founders.

By Mackenzie Truman Edited by Jessica Thomas

Key Takeaways

  • Investors need to see where your business is now but really want to know where it is going.
  • Make sure you are nailing it domestically before you start talking about global expansion.
  • Beta testing will only get you so far — investors want to see real metrics from real customers.

"I love seeing first-time entrepreneurs, but what I love even more is seeing two- and three-time entrepreneurs who have had successful exits!"

So says investor Kim Perell on this new episode of Entrepreneur Elevator Pitch, where we learn if contestants with a track record of success can find their way into our panel members' hearts (and wallets) faster than first-timers. Although Kim is impressed with a contestant's history of wins, investor Jonathan Huang isn't quite as sold. "Just because you had an exit doesn't mean you were successful," he notes.

This is another episode packed with lessons that anyone hoping to fund their dream business needs to learn. As long-time viewers know, every episode of Entrepreneur Elevator Pitch gives contestants the chance to step into an elevator and try to win over investors in just 60 seconds. If they blow it? It's back to the drawing board. But if the pitch goes great, life-changing money is on the table.

And speaking of putting things on the table, Marc Randolph gives us a peek inside the investor mind, admitting that he has to fight his tendency to be overly optimistic about some opportunities, and in a later segment, revealing the business category that never ceases to spook him. "Some people are scared of heights, some people are scared of dogs," he says. "I am scared of healthcare."

The investors have no idea what business pitch is coming next, and the contestants have no idea if they're about to say the words that will have our panel ponying up funds or passing. When one entrepreneur expresses a desire to go global with their product, find out if investors are impressed with the grand vision or if they get turned off by a perceived lack of market focus. Watch now to see what happens!

Episode 6 Entrepreneur Elevator Pitch 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
  • Jonathan Hung, angel investor and managing partner of Entrepreneur Venture Fund

Episode 6 Entrepreneur Elevator Pitch contestants:

Season 9 of Entrepreneur Elevator Pitch is presented by Amazon Business with support from State Farm. New episodes stream Wednesdays on entrepreneur.com. Follow Entrepreneur Elevator Pitch on Facebook, YouTube and Instagram.

Mackenzie Truman

Entrepreneur Staff

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

More from Entrepreneur Elevator Pitch

Will Investors Bite on a Pizza Wallet? Find Out on the Wild Season Finale of 'Elevator Pitch.'

'Elevator Pitch' Meltdown: Watch the Moment That Broke This Entrepreneur's Brain

A Near-Tragedy Spurred This Dad's Invention — Now Worth Millions

A Scary Shopping Experience Inspired This Entrepreneur to Launch Her Own Brand. Now It's Done Over $5 Million In Sales.

Editor's Pick

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.

Leadership

Why Your AI Strategy Will Fail Without the Right Talent in Place

Using fractional AI experts through specialized platforms allows companies to access top talent cost-effectively, drive innovation and scale agile strategies for growth.

Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

Science & Technology

Use This Framework to Successfully Integrate AI Into Your Business Operations

Here's how to ensure both innovation and compliance when using AI in your organization.

Growing a Business

Why Business Owners Should Streamline Their Operations Now for Success in 2025

As the holiday season and year-end approach, business owners face heightened operational demands, from inventory management to spend control. By streamlining these processes and partnering with flexible suppliers, businesses can maintain efficiency, meet customer needs and focus on growth while navigating this busy period.