Hear from Fernando and Kelsee Figueroa, founders of Shore Hitch, a patent-pending shoreline/sandbar marine anchor.
On every episode of Entrepreneur Elevator Pitch, contestants looking to uplift their businesses — and their lives — must prove to our panel of elite investors that they have what it takes to take their startups to the next level. And as if pitching your business wasn't stressful enough, they only have 60 seconds to make their case.
During this tension-filled episode, we'll see some entrepreneurs make it all the way to landing their dream funding, and some who walk away empty-handed. The difference maker? Preparation, preparation and more preparation. Leaving out critical information from a pitch is a big influence on whether the door will open or not. "You need to answer the big questions with your pitch," notes Kim Perell. "Don't just tell me how many units sold — how much does your product cost? How much revenue have you brought in?"
On every episode of Entrepreneur Elevator Pitch, contestants looking to uplift their businesses — and their lives — must prove to our panel of elite investors that they have what it takes to take their startups to the next level. And as if pitching your business wasn't stressful enough, they only have 60 seconds to make their case.
During this tension-filled episode, we'll see some entrepreneurs make it all the way to landing their dream funding, and some who walk away empty-handed. The difference maker? Preparation, preparation and more preparation. Leaving out critical information from a pitch is a big influence on whether the door will open or not. "You need to answer the big questions with your pitch," notes Kim Perell. "Don't just tell me how many units sold — how much does your product cost? How much revenue have you brought in?"
Category
🗞
NewsTranscript
00:00Welcome to the elevator. Picture this, you're on that pristine sandy shoreline, but then you're tackling that very heavy, outdated, and very bulky boat anchor.
00:13Enter Shore Hitch. Our patent pending design is revolutionizing shorelines one hitch at a time.
00:21Trying to anchor our stake into a $240 billion marine accessories market?
00:26We are here today asking for $250,000 in a safe note to help us with our product development, our market penetration, and also our content reduction.
00:35So investors, would you like to stake your name in the sand and join the Shore Hitch family?
00:40Because at the end of the day, anchoring your boat should never be as embarrassing as you launching it.
00:50They left the field before the clock had run out. You don't always have to use all the time.
00:58Well, they need to answer the questions from a pitch perspective.
01:01What really turned me off a little bit was him saying, this is the 18 gazillion dollar market.
01:07Well, sure, that's for every possible boating thing. I want to know, how many of these is it possible to sell?
01:13I have a boat and I think about my anchor all the time.
01:20Attention, Fernando and Kelsey, your pitch has been denied.
01:31It's a lot harder than you think. I think there was a lot of margins and metrics that we left out just based off memory, unfortunately.
01:39So I'll take that one on the team and go from there.