Entrepreneur Elevator Pitch Season 4 Episode 7: 'Open the Doors, Let's Talk'
Entrepreneur Elevator Pitch invites ambitious entrepreneurs to step into the Entrepreneur Elevator, then gives them 60 seconds to pique the judges’ interest. It’s a high-pressure, fast-paced environment in which startup founders need to race the clock while maintaining their composure to make a clear, deliberate pitch that covers at least three essential components:
- Defining the company
- Making the request
- Specifying what the investment money will be used for
The investors watch the pitch through a video livestream while the elevator ascends to the boardroom floor. Once the 60 seconds are up, the group votes on whether to open the doors or send the founder back down and pass on investing.
This episode starts off with a (nearly literal) bang, as a food-based entrepreneur asks, "Have you ever had an edible orgasm?" The simple question draws the attention of the judges immediately, making a strong impression that helps get him inside the boardroom. However, the investors still have questions about the scalability of the business in question due to its niche status. Will this entrepreneur be able to back up his big talk and make a deal, or will he walk away empty-handed?
Next up is an entrepreneur who claims that she's democratizing the filmmaking business by creating a platform where private owners of high-tech gear can loan it to independent content creators. Her ambitious vision for the company sells investor Kathleen Griffith right away, but Lindsay McCormick is skeptical. Which one of them ends up being swayed by the end?
After that, the judges offer three quick tips you should use in your pitch, related to how you should illustrate your business's relationship to its competitors:
- Start by realizing that every business has competition.
- That competition can be either direct or indirect, and you need to address both.
- Show how you are different from the other offers out there.
Click play to see more tips, the answers for the questions above and the rest of this episode's pitches.