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"Internet Marketer: Could You Pass The 'Shark Tank' Test?"

by The Niche Man
10 replies
Shark Tank is the number one reality pitch show in the history of television. Many business owners pitch their ideas in hopes of getting investment money.

But perhaps more important they'll get the expertise, connections and access to some of the best business minds on the planet.

The most educational and entertaining parts of the show isn't always the zany, weird or downright crazy ideas people try to pitch. It's often watching the people squirm, stutter and sweat at the questions a Shark casually tosses at them.

But the ones who can answer those questions, will usually get someones investment money and their priceless connections.

Could you pass the Shark Tank test?

Here's The 8 Most Frequently Asked Questions on Shark Tank.

All the questions may or may not apply to your business (or money making scheme), but still it's good practice and it gives you something solid to shoot for. Who knows ... you may want to make a pitch in "The Tank" someday.

What do you think of the 8 questions?
What do you think of the Shark Tank?

As always thanks for contributing to the discussion. - Peace!
#internet #marketer #pass #shark #tank
  • Profile picture of the author Gh0zt
    This sounds very similar to a program we have here in the UK called "Dragon's Den"

    I haven't seen Shark Tank, but from how you're describing it: I'm going to check it out - I'd rather watch something like that than a soap opera!

    As for those questions - they're good questions! This thread should be very interesting indeed - I'm a little busy but I'm going to check back in on this one.

    Peace,
    Gh0zt
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  • Profile picture of the author onSubie
    Shark Tank is the US version of Dragon's Den and features Kevin O'Leary who started on the Canadian Dragon's Den.

    Dragon's Den started in Japan but then was syndicated/duplicated all over the world. Many countries kept the same "Dragon's Den" name but other's like the US renamed their version of the show. The concept is owned by Sony Pictures.

    My opinion of the 8 questions is that they are Venture Capitalist questions. Not necessarily questions to determine if a business is successful or has potential.

    Venture capitalists, especially like those on DD or ST, are primarily looking for a place to invest their money at an early stage to get in cheap and reap big rewards (for the high risk) when the company goes BOOM!

    The biggest mistake most businesses make is over-valuing their compamy. They see the potential for $10 million sales so they value it at $10 million when they have less then $1 Million in sales.

    That means a "Shark" would have to grow the company 1000% before seeing a return on their venture capital.
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    • Profile picture of the author Gh0zt
      Originally Posted by onSubie View Post

      Shark Tank is the US version of Dragon's Den and features Kevin O'Leary who started on the Canadian Dragon's Den.

      Dragon's Den started in Japan but then was syndicated/duplicated all over the world. Many countries kept the same "Dragon's Den" name but other's like the US renamed their version of the show. The concept is owned by Sony Pictures.

      My opinion of the 8 questions is that they are Venture Capitalist questions. Not necessarily questions to determine if a business is successful or has potential.

      Venture capitalists, especially like those on DD or ST, are primarily looking for a place to invest their money at an early stage to get in cheap and reap big rewards (for the high risk) when the company goes BOOM!

      The biggest mistake most businesses make is over-valuing their compamy. They see the potential for $10 million sales so they value it at $10 million when they have less then $1 Million in sales.

      That means a "Shark" would have to grow the company 1000% before seeing a return on their venture capital.
      Wow I didn't know any other that, thanks for the update! I never realised DD started in Japan?
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    • Profile picture of the author The Niche Man
      Originally Posted by onSubie View Post

      .
      My opinion of the 8 questions is that they are Venture Capitalist questions. Not necessarily questions to determine if a business is successful or has potential.
      .
      They're not?
      What are your sales?
      Is your product unique?
      How much debt do you have?
      What are your costs?
      What do you bring to the table?

      Would you buy or want to partner with someone who answered the above questions in the negative. Or worse didn't know the answers? Of course they give a picture of whether a business is doing good. Why else would a billionaire venture capitalist ask them. That's the proof.

      The good part is any business, big, small or working out of the bedroom could use it as a template, I.M.O.

      Yes, most are used by venture capitalist, but many of the questions are used by banks, investors, potential partners and even if you want to rent space in a mall. They all give a picture of your success or potential, if not what does?
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  • Profile picture of the author bentanck
    Hey,

    Greetings...

    Shark tank is one of the best show in biz and fund raising....
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  • Profile picture of the author internetmarketer1
    Shark Tank is great for showcasing all kinds of different business ideas, and it is great to seeing different points of views on how others are handling their business.
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  • Profile picture of the author hardworker2013
    I love the US program shark tank, those millionaire and billionaires do have a lot of wise words to share to the viewing audience. However i think they most of the times try to exploit those persons who are trying to make something of themselves, by asking for some ridiculous percentage stake in their businesses.
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    • Profile picture of the author internetmarketer1
      Originally Posted by hardworker2013 View Post

      I love the US program shark tank, those millionaire and billionaires do have a lot of wise words to share to the viewing audience. However i think they most of the times try to exploit those persons who are trying to make something of themselves, by asking for some ridiculous percentage stake in their businesses.
      I don't think that they exactly exploit them in their percentage stakes. I mean, they just expect a lot because of how much money they are investing into the people s businesses.

      But I do see your point. Some of them can be a bit greedy, but not all the time.

      I've noticed that this isn't as much of a problem compared to how they are quite mean to some people on there. I mean, if the person pitching their business is a complete freak who is rude and disrespectful, then fine......but some of the "sharks" can be very rude, and I feel bad for the person pitching the business who "forgot" to research that one aspect of their business they forgot to look into that the "shark" needs to know about. I feel like the person gets exploited but mostly embarrassed if they don't get it.
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    • Profile picture of the author The Niche Man
      Originally Posted by hardworker2013 View Post

      I love the US program shark tank, those millionaire and billionaires do have a lot of wise words to share to the viewing audience. However i think they most of the times try to exploit those persons who are trying to make something of themselves, by asking for some ridiculous percentage stake in their businesses.
      That especially happens when all the other sharks bow out and there's only one Shark left. The Shark will usually get that sly smirk on their face.
      Watch out, get the Vaseline ready!
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