CARTOONS BY CHRIS BRITT
StartUp_Wisdom_online2
StartUp_Wisdom_online2
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– SHARK TANK –<br />
Okay, so we made fun of Shark Tank at the outset. But Americans are enthralled with<br />
two things: reality shows and get-rich-quick business ideas. Shark Tank marries the two<br />
perfectly and has been<br />
on TV since 2009. In case<br />
you’ve been vacationing<br />
on Mars, Shark Tank lets<br />
aspiring entrepreneurcontestants<br />
make<br />
their business pitches<br />
to a panel of “shark”<br />
investors, who then<br />
choose whether or not to<br />
invest.<br />
For many<br />
entrepreneurs the idea<br />
is not just to make a<br />
deal with a shark but<br />
All the world’s a stage and I missed the rehearsal.<br />
to get on the show and<br />
showcase a product. Many<br />
entrepreneurs have walked away from the show without a deal but went back home to<br />
find orders that made them millionaires. Studies show that just being on Shark Tank is<br />
worth $4 to $5 million in free marketing exposure. In many cases, the value of getting<br />
airtime on the show even outweighs the benefits of taking a deal with one or more of the<br />
“sharks”, which typically requires giving up a precious amount of equity.<br />
If you believe your company can make the cut, definitely invest the resources to get on<br />
the show. The eight million viewers and the potential for an investment are worth it.<br />
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