Get All Access for $5/mo

Entrepreneur Elevator Pitch Season 2 Ep. 5: 'Sorry You Felt That Way' On this episode of Entrepreneur's pitch show, judged by IndyCar race winner Danica Patrick and other prominent investors, discussions get heated.

By Entrepreneur Staff

Sometimes, it doesn't matter how promising your product seems -- you have to put your money where your mouth is. And if your mouth is spewing impatient remarks during a negotiation, or failing to explain how your business will generate the $1 million in revenue you say it can, you might have to look elsewhere for backing or hope you get a second chance.

On Entrepreneur Elevator Pitch, contestants get only 60 seconds to prove themselves. In that time, they have to explain their product or business, the progress they've made and where they're headed next. From the ascending Entrepreneur Elevator, they deliver their spiel to a panel of prominent investors watching a livestream from the building's boardroom.

When the minute is over, the judges quickly put their heads together to decide if they want to listen to more. They then invite the entrepreneur to chat by opening the elevator doors, or they send them down empty-handed.

Related: Entrepreneur Elevator Pitch Season 2 Ep. 4: Self-Made Self-Care

Even if a meeting follows the elevator pitch, it doesn't always end in a deal. This week's lineup features everything from shaved ice to backpacks to solar-powered phone chargers, as well as a few interpersonal conflicts. When the Entrepreneur Elevator Pitch investors can't reach a consensus, the most optimistic among them predicts doing the "I-told-you-so" dance down the road. And when an arrogant inventor doesn't take kindly to skepticism, celebrity guest judge and IndyCar race winner Danica Patrick puts him in his place.

The discussions prove that well-developed ideas can always use fine-tuning, and that even the most impressive pitches don't always hold water. As VC judge Peter Goldberg notes, "We're here to help entrepreneurs succeed, but we're also here to look for a billion-dollar business."

Watch the tensions mount on the episode above, or on Facebook or YouTube. If you think you've spotted a billion-dollar idea, don't forget to support it via crowdfunding on the Entrepreneur Elevator Pitch hub.

Entrepreneur Staff

Entrepreneur Staff

Editor

For more than 30 years, Entrepreneur has set the course for success for millions of entrepreneurs and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.

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

More from Entrepreneur Elevator Pitch

Who Wins Big on the High-Stakes Season Finale of 'Elevator Pitch'?

What Should You Value More — An Investor's Money or Their Experience?

'That Was Ridiculous!' See What Left One Investor Exasperated on the New Episode of 'Elevator Pitch'

It Was All Going Great Until Someone Said the F-Word. Watch an All-New Episode of 'Entrepreneur Elevator Pitch'!

Side Hustle

The Side Hustle He Started in His College Apartment Turned Into a $70,000-a-Month Income Stream — Then Earned Nearly $2 Million Last Year

Kyle Morrand and his college roommates loved playing retro video games — and the pastime would help launch his career.

Growing a Business

How to Determine The Ideal Length of Your Marketing Emails Your Customers Will Actually Read

Wondering how long your marketing emails should be? Here's what consumers say — so you can send them exactly what they like.

Business News

A Former Corporate Lawyer Now Makes Six Figures on YouTube — Here's How She Does It

Here are the secrets to starting and growing a successful YouTube channel, according to a YouTuber with millions of subscribers.

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

New Southwest Airlines Major Investor Wants to Force Out CEO, Slams Company's 'Stubborn Unwillingness to Evolve'

Elliot Investment Management announced a $1.9 billion stake in the Dallas-based Southwest Airlines on Monday and is urging shareholders to vote for new leadership.