I love the show the Shark Tank. I study the show intently and can tell you almost immediately who is going to get an investment. The rules on the shark tank rarely apply to the real world but it is fun to watch. As a continuing series in my blog I am going to post my observations about Shark Tank that many people will continue to disagree with.
One rule that does apply to the real world is that it is usually about who is presenting, they can have a great product but for some reason the sharks don't like them they strike out. Here is the kicker they can not like you because of a lot of reasons, one of the most common, you are to smart, I saw two Harvard educated ladies who had a great product and all the answers,but got failed to get a deal, the only thing I can think of they were to smart. It can go the other way if you are just to stupid, you don't know the answers to the same questions they have asked every show for the past 4 season. I would make a slide, tattoo it on my arm something. I would remember how much it cost to acquire a customer.
Another rule is never step out of the room, it always ends badly. The entrepreneurs seem to have stopped this.
Another rule and this one would be hard for me, shut up, so often they talk themselves right out of a deal.
And lastly these are sharks, they will eat you alive, you have already won by being on the show, why are you crying if they tell you no, this is business, break out the champagne and celebrate.
Which brings me to the best advice someone gave me, winning is 90% showing up. All the people on shark tank win with or without an investment.
What can we win at by showing up?
Jeffrey
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