Entrepreneur Elevator Pitch Season 5 Episode 5: You Have Two Different Offers, Gotta Make a Decision
Grow Your Business, Not Your Inbox
Entrepreneur Elevator Pitch invites ambitious entrepreneurs to step into the Entrepreneur Elevator, then gives them just 60 seconds to pique the interest of a group of judges. It’s a high-pressure, fast-paced environment in which startup founders need to race against 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 via a video livestream while the elevator ascends to the boardroom floor. Once the 60 seconds are up, the judges vote on whether to open the doors or send the founder back down and pass on investing.
The fifth season of Entrepreneur Elevator Pitch offers a dynamic change in the show's format. Before, our four judges needed unanimous agreement to make an offer to the pitching entrepreneurs — including three out of four "yes" votes just to open the elevator doors. Now, it only takes one investor to open the doors and one judge to make an offer. The panel of four can then choose whether they want to collaborate or compete against one another.
Most Entrepreneur Elevator Pitch episodes feature a limited cast of star investors, but this episode starts with some new judges and a familiar entrepreneur. Janice Bryant Howroyd and Randy Garn make their first appearances of this season, while the first elevator pitch is delivered by a veteran of the show.
"This guy was on Elevator Pitch two seasons ago ... and he had a beauty products company," says investor Peter Goldberg. "Now he's selling bone marrow."
Despite this abrupt pivot, all four judges choose to open the elevator doors. The quick conference inside the boardroom results in two offers: One is a combined offer from Howroyd and Garn, and the other is from Goldberg. Which will win out in the end?
Watch the full episode to find out.