TODAY

TODAY   |  May 14, 2013

CNBC series gives small businesses a chance at $50K

Jewelry designer Kendra Scott and NY1 anchor Pat Kiernan, panelists on the new CNBC prime time reality series “Crowd Rules,” talk about helping to choose which business deserves $50,000 and some of the more unusual business pitches they witnessed.

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This content comes from Closed Captioning that was broadcast along with this program.

>>> you have a small business and big dream, what would you do with $50,000. the new nbc prime competition series give crowd rules and small business owners the chance to convince the studio audience they deserve that cash.

>> a small business needs to have a focus. i'm not sure after seeing that i can say that you do.

>> our focus is fiery condiments and specialty food.

>> love the passion. have you ever heard the term called overassorted. i'm a little worried.

>> you ever heard the term called a little harsh on the contestants?

>> entrepreneur design er andesigner, kend ra and pat on the show. you put these guys through the paces, don't you?

>> there's advocates of the crowd of 100 that ultimately makes the decision. through that of crowdfunding we take them through the decisions? you have to give tough love and get down do the nitty-gritty.

>> you know what it's like to run a business. if somebody doesn't ask these questions now before they try to get in business they could be in trouble later.

>> absolutely. i understand what these business are going through. i started out of the spare bedroom of my home with $500 and grown a brand over the last 11 years. get what they're going through but we want to make sure they can use this $50,000 and use something that will make a difference for their business.

>> it will make a difference. $50,000 is a lot of money when it comes to a small business .

>> right. it's not a loan asking to be paid back, not investment for the company, $50,000 they can use however they want.

>> if someone said to me, here's $50,000 and no strings attached, it would have been a game changer.

>> an expert takes us behind the scenes with each business.

>> you don't want to take the companies at their word how great they are so we send somebody to the headquarters and check them out.

>> your advocates for the studio audience they have the say. they get 97% of the vote. snow they often vote against us.

>> we're only two votes out of 100. many times the way pat and i voted is not how the crowd voted.

>> the guy said he had spicy condiments. what are some of the more unusual ideas.

>> an ice cream truck with a stripper pole on the top.

>> no. what are the more unusual ideas.

>> one guy had a desk you hang on the back of your hotel room door.

>> a stand-up desk. there is a great product that has kids' colored hair gel. the gamut. mom and pops, small business that makes this country so great.

>> i love this concept, i really do. the show is called "crowd rules." pat and kendra, thank you very much. you can catch the premiere at 9:00 eastern pacific time