This episode finds one entrepreneur admitting, ‘I probably acted a little crazy, but I was really excited.’
August 14, 2019 2 min read
Entrepreneur Elevator Pitch invites ambitious entrepreneurs to step into the Entrepreneur Elevator, then gives them just 60 seconds to pique the judges’ interest. 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 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.
Related: Entrepreneur Elevator Pitch Season 4 Episode 10: ‘If We Don’t Know the Product, We Can’t Invest’
This episode starts with the first entrepreneur saying, “I’ve practiced this thing about a million times — in the shower, in the bed, walking down the street.” The practice shows, and her powerfully delivered pitch impresses the judges, despite concerns about her business idea, which is centered around creating expos. However, at the end of her minute, the judges are split on whether to open the doors due to the questions around scaling and valuation. Will they eventually decide to let her in?
The second pitch also leaves the judges divided. Investor Peter Goldberg calls the product “ridiculous,” and Kathleen Griffith agrees. On the other side, David Meltzer and Lindsay McCormick see potential in the idea. Who will win out in the end?
Next, the episode turns to some quick tips you can use to improve your own pitch before highlighting a company from a previous season. The CEO and co-founder of Vyng explains how his season 3 appearance has helped launch the company to even greater success.
To see the rest of the pitches and learn the answers to the questions, click play.
Entrepreneur Elevator Pitch in partnership with Sports 1 Marketing streams Wednesdays on entrepreneur.com. Follow Entrepreneur Elevator Pitch on Facebook, YouTube and IGTV.
