What Do You Need for the Perfect Elevator Pitch? It Takes 3 Simple Elements. On this food-focused episode of "Entrepreneur Elevator Pitch," discover the secret sauce that gets investors hungry to make a deal.
By Dan Bova Edited by Jessica Thomas
Key Takeaways
- Investors want to see passion — and sales traction.
- When making your ask, be sure to give investors data-backed reasoning for your company's valuation.
- It's not just about your product; it's about you. Don't be modest about sharing prior business success.
Hungry for some drama? On this episode of Entrepreneur Elevator Pitch, contestants serve up new business concepts aimed at bringing nutrition to the next level. They have the passion and the belief in their products — but will our picky panel of investors find their ideas mouth-watering or half-baked?
With so many consumers looking for tastier, healthier and easier-to-prepare food options, the market is both massive and competitive. And although it's not easy, a new brand can still break through and become a household name with proper backing and support. Watch to see if anyone has the secret sauce that results in the phrase that all founders hope to hear: "We have a deal!"
Related: Netflix Co-Founder Marc Randolph Reveals the Magic Formula for Grabbing an Investor's Attention
Looking for a recipe for success on Elevator Pitch? Be sure your pitch has these vital ingredients:
- Be clear and concise. People who fail to get our investors' attention are all over the place. Present a clear picture of your idea and your investment needs.
- Solve a problem. For a business to succeed, it needs to solve a customer problem. Don't explain why people will want your product—explain why they need it.
- Do the math. Make sure you know all of the relevant numbers surrounding your business — costs, profit margins and the size of the market — and don't forget to make your ask before the clock runs out!
Season 11, Episode 5 Board of Investors
- Marc Randolph, co-founder and first CEO of Netflix, master of scaling
- Kim Perell, CEO of 100.co, serial entrepreneur and investor
- Gary Swart, partner at Polaris Partners and serial entrepreneur
Season 11, Episode 5 Entrepreneurs
- Doug Evans, founder of The Sprouting Company, a system that allows home cooks to grow garden vegetables on their countertops in as little as three days.
- Catherine Smart and Jacqueline Grady Smith, founders of Not Just, a line of sauces and dressings designed to transform a rotisserie chicken, can of beans, or box of pasta into a delicious dinner.
- Raina Kumra, founder of Spicewell, the world's first nutrient-dense Ayurvedic salt and pepper, made with vitamins derived from organic vegetables.
How to watch
Season 11 of Entrepreneur Elevator Pitch is presented by Amazon Business. New episodes stream on Wednesdays on Entrepreneur.com and EntrepreneurTV. Follow Entrepreneur Elevator Pitch on Facebook, YouTube and IGTV.
