You've Got a Great Invention. Now How Do You Get People to Buy It? It's a good idea to start a business by solving a problem, but make sure to consider who is actually paying for your solution.

By Matthew McCreary

This week's episode of Elevator Pitch features a founder with 20 years of experience in her industry...and an entrepreneur who's only 12 years old. The businesses on this episode are just as varied, spanning from fast food and mental health to job placement and fitness.

Like most startups, each founder and business have some weaknesses and concerns for our investors: entrepreneur Shaun Neff, angel investor Kim Perell and Netflix co-founder Marc Randolph. For example, how does a brick-and-mortar fitness class intend to deal with the long-reaching effects of Covid? Which business partner in the mom-and-daughter nail-care team holds more weight?

The first entrepreneur in the elevator faces an even simpler question: Who is his customer? While his patented french fry-holder makes it easier for customers at a fast-food restaurant to eat on the go, he's not actually selling to a McDonald's eater. He needs to sell to McDonald's management and other fast-food chains, which have different incentives and emphases than their customers. Will he satisfy the investors' concerns and have them bite on his invention?

Watch the full episode to see which entrepreneurs anticipate and assuage our investors' fears to make a deal. Stream this and all past episodes at Entrepreneur Elevator Pitch.

Related: This Is the No. 1 Mistake You Can Make When Pitching Investors

Season 7 of Entrepreneur Elevator Pitch is brought to you by Amazon Business with support from State Farm* and T-Mobile for Business. New episodes stream Wednesdays on entrepreneur.com. Follow Entrepreneur Elevator Pitch on Facebook, YouTube and IGTV.

*State Farm Mutual Automobile Insurance Company is not involved with the judging or prize distribution of this contest hosted by Entrepreneur

Matthew McCreary

Entrepreneur Staff

Associate Editor, Contributed Content

Matthew McCreary is the associate editor for contributed content at Entrepreneur.com.

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

More from Entrepreneur Elevator Pitch

Will Investors Bite on a Pizza Wallet? Find Out on the Wild Season Finale of 'Elevator Pitch.'

'Elevator Pitch' Meltdown: Watch the Moment That Broke This Entrepreneur's Brain

A Near-Tragedy Spurred This Dad's Invention — Now Worth Millions

A Scary Shopping Experience Inspired This Entrepreneur to Launch Her Own Brand. Now It's Done Over $5 Million In Sales.

Business News

'Nobody Ever Gave Me Anything': More Boomers Say They're Not Transferring Wealth to Family Until They're Dead

A new survey from Charles Schwab found boomers are more hesitant to distribute their wealth than other generations.

Business News

Fans of Costco's $1.50 Hot Dog Combo Are In for a Big Surprise

Costco CEO Ron Vachris announced a change that's coming soon to the company's food courts.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

Uber's CEO Says Drivers Have About 10 Years Left Before They Will Be Replaced

Uber CEO Dara Khosrowshahi says the jobs of human drivers are safe for the next decade, but after that, another type of driver will take over.

Leadership

How a Mindfulness Practice Can Help You Beat Tech Overwhelm

This article explores how mindfulness can transform your tech choices, ensuring technology serves your business goals without adding unnecessary complexity.

Business News

Instagram Is Offering TikTok Creators Up to $50,000 Per Month For Exclusive Content

Leaked deals show that there are strict terms to receiving the money.