Get All Access for $5/mo

It Was All Going Great Until Someone Said the F-Word. Watch an All-New Episode of 'Entrepreneur Elevator Pitch'! In this episode of "Entrepreneur Elevator Pitch," our investors are fired up. Can contestants take the heat as they attempt to secure funding for their dream businesses?

By Mackenzie Truman Edited by Dan Bova

Key Takeaways

  • Seeking investment very early in your business forces investors to make a leap of faith.
  • Know your target market.
  • Don't leave investors guessing about how you see their role in your future operations.

Here's the thing about Entrepreneur Elevator Pitch: Startup founders and inventors who nail their 60-second pitch might think they have victory in the bag, but that's just the beginning. They next have to face a grueling Q&A session with investors who will want to know everything from sales traction to costs to marketing planning. Things can quickly turn on a dime — sometimes for the better, sometimes for the worse.

In this week's episode, the inventor of a medical device's pitch is going great until one investor brings up the dreaded F-word: FDA approval. See how the conversation flows from there on this feisty new episode of Elevator Pitch!

This week's main takeaways:

  • Seeking investment very early in your business presents challenges to investors. "I'm always hesitant to invest in something so that the entrepreneur can find out if it works or not," Netflix co-founder Marc Randolph says.
  • You want a focused market — investors don't like a shotgun approach when acquiring customers. "I want to know who your customer at scale will be," Kim Perell says.
  • Don't leave investors guessing about how you see their role in your future operations. "Why do you need us investors? That's got to be clear in the pitch," Joe De Sena says.

Season 10, Episode 3 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 3 Entrepreneurs

  • David Fleming, founder of Releevum, a headache relief device that replicates the benefits of suboccipital release therapy.
  • Alexander Wesley, founder of Arovia, a large portable display using a pocket projector and a flexible screen.
  • Amy Keller, founder of Climate Candy, a company that turns imperfect food into candy.

How to Watch

Season 10 of Entrepreneur Elevator Pitch is presented by Amazon Business with support from State Farm. New episodes stream on Wednesdays on Entrepreneur.com. Follow the show on Facebook, YouTube and IGTV.

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 Culture

Stop Blaming Remote Work for Your Productivity Woes — 5 Signs of a Productive Office Culture

It doesn't matter if you work from a cubicle, couch or cafe — if the (remote) office culture is broken, productivity will suffer.

Business News

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

The ranking is based on Glassdoor ratings and reviews.

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.

Business News

Apple Is Adding ChatGPT to iPhones This Week. Here's How It Works.

ChatGPT will take over questions that Siri can't answer.

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.