What you can learn from successful Shark Tank pitches

4 replies
For one thing, don't go in without any sales. Successful pitches had around $500,000 in sales before they pitched in the tank.

Best way to win a 'Shark Tank' pitch - Business Insider
#learn #pitches #shark #successful #tank
  • Profile picture of the author laurencewins
    I watch our Australian version and last night was the final for this first season.
    Some of the people are well prepared and know the answers to the questions the Sharks ask.

    Then there are the "others" who had zero preparation and don't even know enough to run their business properly, let alone be asking for investors to plow money into their spectacular failure.
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  • Profile picture of the author triggerbig
    Stop saying you're watching Shark Tank to learn lol. It's a form of procrastination for "wantrepreneurs"... people who spend years and have thousands of posts on forums.

    The show puts on people who are interesting to the audience.

    Stop watching TV and get back to work.
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  • Profile picture of the author Synnuh
    I'm going to track down the episode where an SEO guy turned down a MASSIVE offer from a few different sharks.

    Passion will get you a long way if you don't have sales, but the idea is solid. Especially with Barbara Corcoran.

    Ahh, found it:


    Originally Posted by triggerbig View Post

    Stop saying you're watching Shark Tank to learn lol. It's a form of procrastination for "wantrepreneurs"... people who spend years and have thousands of posts on forums.

    The show puts on people who are interesting to the audience.

    Stop watching TV and get back to work.
    Trigger, practice what you preach. Stop posting on forums and get back to work.

    And not listening to millionaires (billionaires?) who've led the path before you.

    It's pretty funny you used "wantrepreneur". I'd never heard that phrase until I watched Shark Tank lol
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    • Profile picture of the author The Niche Man
      Interesting info-graphic. Although I did see a few surprises.

      Ironically, most of the successful pitches were from people associated with Food and Beverage. The most competitive, highest failure rate, hardest to get shelf space business. Plus, it's a business of which none of the Sharks made their initial wealth from.

      If anything you'd think more high-tech businesses would get the most nods, because that's how most of the Sharks made their wealth. But tech companies or products didn't even make the list. Huh?

      But I noticed a couple of things the article missed, that seems to be a must have also.
      #1. Know Your Numbers or ... The Answer is NO!
      It's surprising how many people I've seen who walk in confidently and explain their product with flair and boldness. Then watch them stutter, stammer or grow silent when Sharks start firing financial questions at them. Next, you see sweat beads forming on their forehead and upper lip (the camera always pans in). At that point you know .. and they know their dead in the water.

      #2. Have a Good Story.
      I also noticed many times their product story can save them when all else fails, even not knowing all their numbers. If they don't volunteer, a Shark will always ask, How did you come up with this product idea? Your answer can often get you a deal. You get extra points with Barbara if you can tell your story with a shaky "lump in your throat" voice and light tears.
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