Netflix Co-Founder Marc Randolph Made a Surprise Move That Stunned Investors. Check Out the New Episode of 'Elevator Pitch'! You never know what is going to happen when big ideas and big money collide.
By Entrepreneur Staff •
Key Takeaways
- Make sure it's not too early to seek investment. Investors will want to see that you have traction before putting in their money.
- Never give up in the boardroom — you never know when you will hit on the right words that can change a doubtful investor's mind.
- You don't just want customers, you want to cultivate a brand identity that turns buyers into your no. 1 fans.
Season ten has just started on Entrepreneur Elevator Pitch, and heads are spinning. We've seen a lot of firsts in show history and this episode is no different. As one contestant says, "One minute your deal is dead, the next it's alive!"
Every episode challenges contestants to step inside our elevator and pitch their company in just 60 seconds. A board of investors is watching on a monitor, and if they like what they hear, the elevator doors open and the entrepreneur has the chance to win a life-changing investment. But if the investors don't like what they hear, the elevator is sent back down to the ground floor and their shot at glory is finished.
As we learn in this episode, pitch meetings can be pretty unpredictable. A simple word or phrase can change everything on a dime — sometimes for the best and sometimes for the worst. Our contestants also get a lesson in long-term success from investor Marc Randolph, who has this to say: "Customers shouldn't come and go, they should come and stay. So look for ways to turn your customer base into a community with social media, in-person events or inviting customers to join an advisory board. You will not only gain valuable insights, but you will turn your customers into your no. 1 fans."
Check out the new episode above to see who (if anyone) wins big, and be sure to watch last week's episode here.
Season 10, Episode 2 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
- Logan Stout, serial entrepreneur, best-selling author
Season 10, Episode 2 Entrepreneurs
- Lucie Allaire from Guiltless To Go, an app that lets users find local restaurant meals and grocery options based on diet types and budgets
- Michelle Razavi and Nikki Elliot from Elavi, superfood dessert cashew butters
- Ian Eyberg from NanoVMS, cloud infrastructure that allows you to run your applications faster, safer and with less cost
How to Watch
Season 10 of Entrepreneur Elevator Pitch is presented by Amazon Business with support from State Farm. New episodes stream on Wednesdays on Entrepreneur.com. Follow the show on Facebook, YouTube and IGTV.
