Nothing turns off an investor more than when an entrepreneur comes in with a ridiculous valuation.
By definition startups usually do not turn a profit.
Reality TV is a totally different animal than the infomercial world.
I understand that finance can be very complex.
I have seen entrepreneurs ask for hundreds of millions of dollars on a concept and try to sell because of 'their passion' for an idea. If the idea is that good, why wouldn't I cut you out and hire someone who is just as passionate for much, much less?
One of the big problems entrepreneurs run into is they get too comfortable.