Chris Parsons FTW

I’m not at all a fan of reality shows. They seem very contrived to me. If you shoot a whole pile of footage and edit slices, it’s easy to create drama where none exists. I mean, the person who gets voted off the island in “survivor“ doesn’t get tossed into a volcano or thrown to crocodiles. Not yet, anyway.

Despite the indifference I usually have upon seeing most of these shows, I have become a big fan of the online reality show “Entrepreneur Elevator Pitch.“ I think it has a lot to offer anyone involved in sales and marketing, communications, and business.

The premise is simple: a person - the entrepreneur - boards the elevator and ascends to a boardroom at the top of a large skyscraper. The elevator is wired for sound and video, and the entrepreneur is being observed by a group of veteran investors sitting in the boardroom. The people riding the elevator have 60 seconds to pitch their idea. The investors listen to the pitch, discuss among themselves its potential merit and decide if they want to hear more. If they all give a thumbs down, the unfortunate entrepreneur–wannabe has a long elevator ride back down to the lobby. If there is a thumbs-up from an interested investor, the elevator opens and the person enters the boardroom and attempts to make a deal.

The entrepreneurs are in various stages of development. For some their idea is still on the drawing board or the prototype stage, for others they are already in the marketplace and looking for investment money to scale. The products are everything you can possibly imagine – – and some you can’t. It’s amusing to see some of the things people drag into that elevator with them.

One interesting part of the program is that once they’ve entered the boardroom, the entrepreneurs get grilled by the investors, who are expert at asking pointed questions that quickly reveal the strengths and weaknesses of the product, and of the entrepreneur. Is their business model well thought out, or nonexistent? Do they have a clear roadmap to launch or expansion, or are they winging it?

Another interesting part of the program is the investment option for viewers, who can choose to back the person themselves via Indiegogo. This is mentioned throughout the show and it’s a terrific way to get viewers invested in what they are watching. It's easy to say you would invest in something when it's abstract, but with this show you can do just that. That's surely putting the "reality" in a reality show.

The investors are business all the way, but they are never petty or deliberately mean. They clearly want to help entrepreneurs who have a good idea, even if they themselves are not interested in making an investment deal. In some cases they let the entrepreneurs know they would be poorly served by the level of funding requested, but the investors will still help them move forward by sharing contacts appropriate to the entrepreneur’s current state of development.

There is a wide range for the investment amounts being sought. Some entrepreneurs are looking for $20,000 or $40,000, but there are also some six and seven-figure requests. There are actually a number of deals where the investors offer far more than was requested because they see the potential of the product being pitched.

It’s fascinating to see how much of their equity people are willing to give up to get funding. Some entrepreneurs offer way too much, and investors will tell them they shouldn’t be giving away such a large piece of their company. In other cases, it becomes a negotiation. One software guy offered a huge percentage and it was instantly accepted as a deal. A moment later he reneged, admitting he was trying too hard to please. The expression on his face was priceless as it registered just how much of this precious jewel he had been working on for years he'd given away in an instant. The investors just chuckled and told him that that was his first lesson. Less than a minute later, they had negotiated a more reasonable deal. Another person had an OK product, but her pitch and her exuberant personality so won over the investors they had to meet her. Teaching moments like that are another reason this show is worth watching. Giving away part of your company's valuation for a singular influx of cash should never be done impulsively, and sincere positivity and enthusiasm are a value all by themselves - especially when you're selling something.

There's a lot happening in a short time on "Entrepreneur Elevator Pitch." It's great at showcasing the right way -- and the wrong way -- to deliver a concise pitch. It has a lot of value to those of us in business, those who sell and market, and especially to budding entrepreneurs who may well be standing across from investors asking for capital. It's fun to watch. Check it out on YouTube. You can find the first episode by clicking on the video below.

Oh, and be sure to check out the Edible Selfies.

Chris Parsons