Originally posted by MET student Vincent Dong on 22/05/2019
Entrepreneur Elevator Pitch is a TV show produced by Entrepreneur magazine, and it gives each contestant a 60-second elevator ride from lobby to the boardroom to sell their business idea. Watching the quick pitch live, a panel of expert investors makes their judgement. If the investors are impressed, the entrepreneur is invited into the board room to make a deal. If the elevator pitch fails, the elevator doors stay closed, and the entrepreneur is sent down empty-handed.
One of my favourite elevator pitch (education related) comes from the S3 Ep8: In The Sports Zone. The contestant/entrepreneur, Darla Hall’s 60-second speech was so impressive that all four investors gave her green lights.
Click here to view the 60-second elevator pitch.
https://www.facebook.com/EntrepreneurElevatorPitch/videos/357900331644446/?v=357900331644446
Click here to view the whole episode.
http://entm.ag/ybt
Yes, I would invest in this venture.
I appreciate that the founder is the one making the pitch, and gives a very clear scaling model so I know where my money would be going. I don’t think she does a particularly good job of solidifying the pain point, and coupled with that, there is no mention of any competition – how do I know if this is a novel product or not? The pitch does explain the marketing, which seems sensible, and even provides evidence of this being a successful product already. Darla Hall does a good job with the Ask because she asks for a certain amount, and explains why she needs it. That said, there is no mention of recompense for the investor (other than saying that there is a huge market… but again, she doesn’t mention if that market is being tapped into by other companies). Overall, I don’t have a clear sense of what the product is, but as a pitch I think she did a good job and I would move from elevator pitch to venture pitch at the very least!