On the first episode of our new series "Fix My Pitch," business coaches Anthony Sullivan and Tina Frey break down what it takes to wow investors in the boardroom.
Who says there are no second chances in life?
On our hit show Entrepreneur Elevator Pitch, contestants are challenged to step into an elevator and pitch their business to a camera in 60 seconds or less. On the other side of that camera is our board of investors. If they like what they hear, the elevator doors open and contestants step inside the boardroom where they have the chance to win life-changing funding and mentorship from the smartest minds in business. If the investors don't like what they hear? The elevator gets sent back down, along with the entrepreneur's dreams.
For nine seasons, there have been no do-overs in the elevator — much to the dismay of entrepreneurs who ran out of time, got tongue-tied, or simply froze in the headlights. But that's all about to change.
Introducing our new series, Fix My Pitch, where failed contestants have a chance at redemption. Led by pitch masters Anthony Sullivan and Tina Frey, former contestants will workshop their weaknesses and hone their strengths with a team of business experts. By the end of this four-week pitching boot camp, these entrepreneurs will be challenged to once again face their pitching fears. The prize? A never-before second chance on Elevator Pitch. See who is able to rise to the challenge and who gets stuck each week on Fix My Pitch!
Who says there are no second chances in life?
On our hit show Entrepreneur Elevator Pitch, contestants are challenged to step into an elevator and pitch their business to a camera in 60 seconds or less. On the other side of that camera is our board of investors. If they like what they hear, the elevator doors open and contestants step inside the boardroom where they have the chance to win life-changing funding and mentorship from the smartest minds in business. If the investors don't like what they hear? The elevator gets sent back down, along with the entrepreneur's dreams.
For nine seasons, there have been no do-overs in the elevator — much to the dismay of entrepreneurs who ran out of time, got tongue-tied, or simply froze in the headlights. But that's all about to change.
Introducing our new series, Fix My Pitch, where failed contestants have a chance at redemption. Led by pitch masters Anthony Sullivan and Tina Frey, former contestants will workshop their weaknesses and hone their strengths with a team of business experts. By the end of this four-week pitching boot camp, these entrepreneurs will be challenged to once again face their pitching fears. The prize? A never-before second chance on Elevator Pitch. See who is able to rise to the challenge and who gets stuck each week on Fix My Pitch!
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NewsTranscript
00:00 She had 60 seconds to pitch her business to investors and possibly change her life.
00:05 But instead, attention, Ashley, your pitch has been denied.
00:11 If an entrepreneur can't pitch their business, they can't succeed.
00:16 It's something we see all the time on our show, Elevator Pitch,
00:20 where entrepreneurs have 60 seconds to pitch.
00:22 If they don't get an investor's attention after that, they're done for.
00:26 So we picked four entrepreneurs who failed on the show
00:29 and teamed them up with world class experts in pitching so that they and you
00:35 can make a good impression in the time it takes to ride an elevator.
00:38 This is Fix My Pitch.
00:57 So we're here at Convene in New York City.
01:00 I mean, this is where it all happens. It's a great place.
01:02 We've got some great entrepreneurs.
01:04 These guys pitches didn't go well in the elevator.
01:06 They basically failed.
01:07 So I'm here today to help them basically fix their pitch.
01:11 Fix My Pitch is the opportunity for second chances.
01:16 We have the opportunity to work with these folks, give them some new techniques,
01:19 some new shifts in perspective so they can try their pitch a second time.
01:24 There's nothing like crafting a great pitch in the middle of the capital of commerce.
01:29 How are you doing? All right, you ready?
01:34 So we're about to look at all these pitches today.
01:36 What would be your pitch for yourself?
01:38 I help people to articulate their purpose.
01:43 I love it. I love it.
01:45 And you, Smarter Pants, what would you like?
01:46 Hi, Anthony Sullivan here.
01:48 But wait, there's more. Here's how to order.
01:50 You're killing me. That would be my pitch.
01:52 This is how today is going to go.
01:53 This is how today is going to go.
01:54 Are you ready? Let's sit down and watch these pitches.
01:56 I'm Ashley Roselike, and I'm the founder of Osweet Fitness Activewear.
02:01 Osweet Fitness provides buttery soft, luxurious
02:05 and affordable activewear to women without the $90 price tag.
02:08 I didn't feel like she was selling it as enthusiastically as she could.
02:14 Immediately, you know what I thought?
02:15 I actually thought, I can help her.
02:17 I can't wait to jump in and really help this girl.
02:19 Our average order value is $78.
02:23 And our margins are 70%.
02:28 We're looking for $100,000 for a 15% share in the business
02:33 to work with a like minded investor.
02:36 Our mission is to bring affordable activewear to women all around the globe
02:40 and to combat the affordability of activewear in the market.
02:45 What do you think?
02:49 Oh, sweet baby girl.
02:51 Oh, you feel the pain, right?
02:53 You know what happens?
02:53 Cortisol gets released, fight or flight or freeze.
02:56 She could do this in front of a mirror all day long.
02:58 All day long.
02:58 Put her on the spot.
02:59 And I get it.
03:00 I've been. Have you?
03:02 I've been. Oh, my God.
03:04 You should see my first time ever on camera.
03:06 A deer in the headlights.
03:08 Stories over drinks later. Stories over drinks.
03:10 Today, I feel going to fix my pitch.
03:17 Confident, open minded and excited that I have someone to teach me
03:22 how to fix my pitch.
03:24 Here she is. Hey, Ashley.
03:26 How are you? Welcome. Nice to meet you.
03:28 Ashley, how are you?
03:30 Have a seat.
03:31 So, Ashley, we're going to start with what did you do well?
03:34 In the first half, I presented my numbers
03:39 and why financially would be a good investment or
03:43 information to support my request.
03:47 You had it. You had it in there. Sure.
03:49 Great. Anything else that you did well?
03:52 If I was Ashley, the first thing I would do is have my brand name on my clothing.
03:56 That is rule number one.
03:58 If you have an opportunity to wear your brand name on your clothing
04:02 and you're selling clothing, do it.
04:04 How are you actually feeling going into it?
04:05 Uh, pretty, pretty lost, right?
04:10 Because I'm a bit of a bootstrapper.
04:13 I figure things out quite quickly.
04:15 But with this, I really just pulled it apart so much and I didn't
04:19 I wasn't sure.
04:21 Yeah. You don't need to bullshit us in this room, by the way.
04:24 It's all good. OK.
04:25 What was really going on for you?
04:27 Do you think? Well, I'm a bodybuilder.
04:30 I have a full time job and I have my business, which I absolutely love.
04:33 And I curple tunnel.
04:35 So you got a lot of stuff going on.
04:36 I had that and I was just cold and tired and I really
04:40 That'll do it. Yeah.
04:41 That'll do it. Distracted, tired.
04:43 Right. Body, brain, spirit, not connected.
04:45 Yeah. I can tell you.
04:47 Well, I used to sell live TV 4 a.m. on HSN.
04:49 I have to drag myself out of bed, like not feeling it.
04:52 And I would go in the green room and I haven't stopped shaking out.
04:56 And I'm yelling at the mirror and I'm getting excited because I'm going live TV.
05:00 And people would think I was like, what is going on?
05:03 And then you'll see actors do it.
05:04 You know, Matthew McConaughey's beating his chest.
05:06 It's like getting in the mood to sell and having a smile on your face
05:10 and like breaking it down. Big smile.
05:12 I think by the end of today, we're going to have a lot of people
05:15 who are going to be like, oh, I'm going to be in a good place.
05:17 I think by the end of today, we're going to have you in a good place.
05:20 Mm hmm. She's ready.
05:22 Look at that up high, girl. Yeah. All right. Let's do it.
05:24 OK, thank you. We will see you later.
05:26 Yes. All right. Thank you.
05:28 But the workshop is sweet.
05:30 I feel really excited.
05:35 I think that this is a great opportunity as someone who's looking to raise money
05:39 and press investors, you know, in the long term.
05:42 I think it's a great opportunity.
05:43 Hi, my name is Brandon Storms, founder and CEO of Retavo.
05:47 All my marketplaces represent six hundred and thirty billion dollars
05:50 of a one trillion dollar e-commerce industry, a market that's set to explode
05:53 over the next three to five years.
05:55 So why don't more businesses or entrepreneurs launch their own marketplace?
05:58 And the reality is, is most businesses, entrepreneurs don't have one hundred
06:01 or five hundred thousand dollars to hire traditional dev shop,
06:04 the technical expertise or the up to 12 months it takes to build
06:07 a marketplace from the ground up.
06:09 My name is Brandon Storms.
06:10 I'm the founder and CEO of Retavo, and we enable businesses and entrepreneurs
06:14 to launch their own marketplace through our platform.
06:16 I think my greatest strength as a pitcher is my my attitude and
06:20 and really just kind of what I'm able to the energy that I'm able to bring,
06:24 you know, to to the pitch itself.
06:27 Retavo is Shopify for marketplaces.
06:29 Our SaaS marketplace platform allows businesses or entrepreneurs
06:32 to launch the marketplace of their dreams affordably
06:35 with no technical expertise required and in 21 days or less.
06:38 We currently have two paid pilots generating fifty thousand dollars
06:41 of revenue and have secured four LOIs this year for an average
06:45 annual contract value of twenty thousand dollars each.
06:48 We raised three hundred thirty thousand dollars to date from various investors,
06:51 including tech stars, and are seeking three hundred thousand dollars via safe
06:55 note with a six million post money cap.
06:57 Thank you and hope to see you soon.
06:58 I mean, he had a purpose.
07:00 There's no question about it.
07:01 A lot of passion, a lot of good, positive energy.
07:04 But the clarity, I think it's passionate.
07:06 I can this is going to be a tough guy to tell what to do.
07:10 I think got to rein him in and land the plane.
07:13 Yeah, it's just a lot of information.
07:16 Come on. It is. Hey, how are you?
07:18 Very nice to meet you.
07:19 Welcome. Nice to meet you.
07:21 Nice to meet you.
07:22 Have a seat. All right.
07:24 So what did you think? Let's start there.
07:25 I think I hit on every point that I wanted to.
07:28 OK, like I feel like I nailed, like all the information
07:33 that I wanted to get into that pitch.
07:35 You've got a great, warm personality.
07:37 You've got a good smile.
07:38 That's the first thing. First thing's impressions.
07:41 You're confident. Your posture is great.
07:43 You look good. You introduce yourself.
07:44 Well, love you, Brandon Storms.
07:46 Who doesn't want to buy some Brandon Storms?
07:49 I thought Brandon was good.
07:52 Too much information.
07:53 If I had to just in a nutshell, just too much information.
07:58 I was left scratching my head.
07:59 And that is never a good thing.
08:01 It's all about compartmentalization.
08:03 That's it. Right.
08:04 And some breaths, because you were at a 12.
08:06 We want you at an eight. Yeah. Right.
08:08 Yeah. I think, you know, a lot of people say with the, you know,
08:12 they invest in the people. Yeah.
08:13 And not the product's one thing, but they want to invest in the person
08:16 buying the product.
08:16 And I would literally write this down, transcribe it.
08:19 Right. Problem solution.
08:21 Maybe bring the math down a little bit and then go for the jugular.
08:25 So listen, I want to sit down with a workshop with Yumi and Tina,
08:29 and we will we'll figure this out.
08:32 Right now, we got to go from ordinary to extraordinary.
08:34 I think that's only a teeter to provide a lot more clarity
08:38 on how I can potentially tell a better story.
08:40 So those doors open next time.
08:43 On the next episode of Fix My Pitch.
08:45 Questions asked.
08:46 I'm no stranger to building apps.
08:54 Looks to me without knowing you that you you just you're scared.
08:58 There is certain parts where I broke down and was not
09:01 fluid with my speech.
09:04 Even if I'm on camera talking to millions of people,
09:06 just talking to one person.
09:07 [MUSIC]