On our fast-paced pitch show, contestants have to be ready to open up to investors and viewers alike.
2 min read
If you’re pitching a product to investors, you might think that adding an element of intrigue will make them want to learn more about your business. But investors are busy people. And if you’re downright cagey when they ask point blank about how you quantify your company’s success, well, good luck to you.
On Entrepreneur’s weekly pitch show, Entrepreneur Elevator Pitch, a panel of four high-profile investor judges watch contestants as they deliver 60-second business pitches from inside the ascending Entrepreneur Elevator. Once it arrives at the boardroom floor where the judges sit, the judges vote on whether to let the entrepreneur in to negotiate a deal or send them down with no chance to meet.
This week’s episode, as well as last week’s season opener, features all women entrepreneurs. The female contestants take turns pitching supplements, social media concepts and mission-based accessories and more. In some cases, the judges don’t all agree on whether the products sound promising. When a “stalemate” occurs, they have to pitch one another, in a way, on what they’ll risk missing out on if they pass up an opportunity to invest.
Sometimes, the judges invite people in, only to learn that the red flags they sensed from the elevator pitch were warranted. It wasn't that the contestant nervously forgot details — they deliberately withheld them.
Other times, a contestant’s overly confident attitude is a sign that maybe they’re overcompensating for something. Finally, there are ideas that are good in theory — but will they be good in practice? Will consumers buy it, and for the right reasons? Will “passion” and “purpose” be enough, or does the company need a bit of guidance before it gets to the funding stage? Stream this week’s episode of Entrepreneur Elevator Pitch to find out which companies the investors decide to pursue.