For those of you who do not already know, Shark Tank is a reality TV series, that stars five, multi-millionaire, business tycoons; called “Sharks”. The “Sharks” hear investment proposals from entrepreneurs, and then consider whether or not to invest money, time and/or services; in their business. Sound like another trip to the Shylock? Not quite, although a pound of flesh does seem to be at steak…oops stake.
Many of the businesses that enter into the Shark Tank are struggling and losing life. In most cases, it is not a problem with their concept or idea, but with finances, marketing and/or distribution. And just as in nature, the hungry sharks are drawn to the victim’s peril and circle the weakened prey; waiting anxiously for the opportunity to feed. Let me be clear though, the meat has to be worth eating; before one or all of the Sharks will bite. Ok, well it’s not quite that graphic, but that is the premise of the show.
By now you might be asking yourself, “why would anyone participate in, or even watch this show?” Here is why.
The five Sharks that have been selected for the show, are really just smart, committed entrepreneurs; that at one time or another have had to survive their own “Shark Tank”. They are not the gluttonous, frenzied predators; that the show’s name would suggest. Each of the panel members has calculated and built their fortunes, through sheer will and determination. Not one was born with a silver spoon.
When an entrepreneur enters the Shark Tank, they are truly being judged by their peers. Each Shark has their own story to tell, whichoften mirrors that of their wounded prey. As such, the stern and motivational advice offered by some, although painful to hear, is founded on personal experience and forged out of hardship; and even hunger. So, as an entrepreneur when I am given the opportunity (once a week) to watch innovative business ideas, being presented to, and criticized by, a panel of accomplished “tycoons”; I am going to listen to every word and learn what I can. Whether it be a failed business plan, poor distribution, or a ridiculous valuation, I know that when Kevin O’Leary shouts “Stop the madness!”; he is going to tell me why. <— True value?
Connect with Kristoffer Howes for more Internet marketing and brand building tips, strategies and advice.
