On every episode of Entrepreneur Elevator Pitch, we learn new lessons about what gets investors’ attention and what leaves them yawning. During this week’s show, Marc Randolph, the co-founder of Netflix, explains that touting your ability to get new customers is fine, but what gets him excited is if you can figure out how to keep them. “The one-and-done model is the surest sign to me that you’re going to piss away all of my money,” he says. “But build a machine that can get the same customer to come back to buy over and over and over again? Well that my friend is lifetime value, and now you’re speaking my language.”
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As always, this episode features three entrepreneurs who step into an elevator and have just 60 seconds to pitch their business. If our board of investors likes it, the elevator doors open and the entrepreneurs are invited in to try to make a deal. If the investors don’t dig what they hear? The elevator gets sent back to the ground floor, and the entrepreneurs are sent packing.
Episode 2 Entrepreneur Elevator Pitch 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
- Jonathan Hung, angel investor and venture capital partner
Episode 2 Entrepreneur Elevator Pitch contestants:
Who wins, and who gets sent down?
One tech entrepreneur has an intriguing pitch, but will they be able to convince the investors that it’s different from existing platforms? And on other segments, we see a deal-making brawl break out and a surprise $10,000 investment from Amazon Business that will change the trajectory of a startup that’s trying to do good in the world. Watch and see who gets what!
Season 9 of Entrepreneur Elevator Pitch is presented by Amazon Business with support from State Farm. New episodes stream Wednesdays on entrepreneur.com. Follow Entrepreneur Elevator Pitch on Facebook, YouTube and Instagram.