Entrepreneur Elevator Pitch is the show where contestants get into an elevator and have just 60 seconds to pitch their business to a video camera. Our board of investors is watching, and if they like what they hear they open the doors and the entrepreneur steps into the boardroom to try to seal the deal. If they don’t like what they hear, the entrepreneur gets sent back down.
In this ongoing article series, we’re celebrating the entrepreneurs who walked into the boardroom and came out with a win and sharing their tips for pitching success.
Who are you and what is your business?
I’m Anthony Tranchida. My partner Scott Mobley (the firefighter) and I are the guys behind the world’s best and safest grill brush: Grill Rescue. Our brush uses steam to clean by heating your grill, dunking Grill Rescue in water and gently steam-cleaning away all the built-up gunk on your grill grates. We have also launched new innovative products such as our all-in-one beverage insulator, Beer Buddy, and our brand new ultra-lightweight, foldable camping and tailgating grill, Caveman Grill.
How did you prepare for the show?
A lot of effort went into preparing for elevator pitch. Naturally, we began with crafting the perfect pitch, but then we had to make sure we could answer any potential question they could ask after we got out of the elevator. At first, I wasn’t sure I would ever memorize our 60-second pitch, but after recording it and playing it back over and over again on my morning and afternoon commute, I was confident we’d nail it. Our support from the Grill Rescue team was remarkable. We have to give a ton of credit to our team for holding us accountable and making sure we were more than prepared.
Related: Watch Grill Rescue’s Winning Pitch
What did you think was going to happen? What was different from your expectations?
Coming on the show, we were pretty confident our irresistible offer was unique and like nothing that had been done before. Offering 3% for a $0 investment has to be a first and had the investors in shock. We were very optimistic that the investors had no option but to say “yes.” We did not, however, expect them to be all fighting over us. We certainly were pleasantly surprised when that was how the negotiations went. We were hoping to acquire all three investors as each of them has different business expertise, but the investors insisted they were not willing to work with one another and ultimately we felt Kim Perell was the best fit for our business.
Why do you think they opened the doors?
At first, we expected them to open the doors [out of] curiosity about our offer. And who doesn’t love men in uniform? Just kidding! I truly believe the last few years of hard work opened those elevator doors, not the 60 seconds before.
Related: Watch new episodes of Entrepreneur Elevator Pitch
How did the negotiations go? Would you do anything differently?
The negotiations couldn’t have gone better. Not only did we get our pick of three successful investors, but they were essentially pitching to us. It’s hard to even call it a negotiation at that point. I’m thrilled with the way everything went, and I can’t imagine doing anything differently could have yielded a better result.
What do you plan to do with your investment?
Although we didn’t technically get an investment, I believe we got something greater than any amount of money we could’ve asked for. I have already had meaningful conversations with Kim, and she’s helped us more with her time than her money can. I love that she’s direct and there’s no need for clarifying. You know exactly what needs to be done when she offers advice or gives you a task. She speaks the same language of business as we do. Execution gets results. That’s the plan she has us on, and it’s how we’ve always operated. She has given us so much value already, and I can’t wait until the world sees our huge progress.
What did it mean to you personally to get in the doors and walk out with a win?
Anthony and I have built this business from the ground up. The hard work, sweat and tears are something no one will experience unless they have been in our shoes. We have taken our business as far as we can and to walk out with not just an investor but a mentor to help take Grill Rescue to the next level is surreal.
Related: Watch the Pitch That Landed a $175,000 Investment
What is your advice for anyone thinking of applying to be on a future episode?
This is not something you should take lightly. It’s not something you think about. If you’re going to do it, give it your all. It could very well be the difference between just 15 minutes of fame or your ticket to becoming a goliath in your industry.
Season 8 or Entrepreneur Elevator Pitch is brought to you by Amazon Business with support from State Farm and Canon. New episodes stream Wednesdays on entrepreneur.com. Follow Entrepreneur Elevator Pitch on Facebook, YouTube and IGTV.