4 Incredible Shark Tank Lessons for Businesses Seeking Startup Investment Firms

 “We have a deal”

“I’m out!”

If you could identify these words from it’s show, you are right! For entrepreneurs, the second one is probably the last thing they want to hear. 

Five Sharks (Robert Herjavec, Daymond John, Lori Greiner, Kevin O’ Leary and Barbara Corcoran) sitting across a table with one entrepreneur with his/ her dream and a pitch that can give flight to their idea became sensational across US television for all the right reasons. It gave startups and entrepreneurs across the world a hope and inspiration to have the drive to go for their dreams while establishing the belief that it's never too late to start. 

With 500+ companies appearing before the angel investors since its debut season, there have been lots of business lessons. In this blog, we will be sharing four killer lessons for every entrepreneur. If your business is seeking startup investment firms, continue reading this blog. 

FOLLOW THE 10 SEC RULE

Concise, clear, factual and real- make sure that your business pitch meets all these points. Indeed, time is money in the business world. The first 10 seconds are a make-or-break point for your business. It is what sets the foundation to your audience’s attention. Additionally, conviction matters too. If you don’t have confidence in your own idea, you can't expect a shark to have faith in your business. 

KNOW YOUR NUMBERS

The number one reason why many businesses failed in Shark Tank is because they didn’t know their numbers. Quantifiable facts are what impress investors and keep them engaged with your idea. From total sales, revenue, net profit to break even, distribution and manufacturing costs, you must know the business numbers inside out and keep them at your tips. 

SOLVE AN EXISTING PROBLEM

Don’t try to solve a problem that’s not there. There’s a popular saying that goes as, “If it's not broken, don’t fix it”. And it certainly holds true in the business world. Although investors won’t say no to a product or innovation that gives rise to a new market, entrepreneurs can, at times, get too far ahead of the customer. 

KEEP IT FUN & INTERESTING 

Whether on reality TV or in real life, no one likes a boring pitch. If you recall, there have been countless times where a shark got sold on someone’s personality rather than the business and ended up doing a deal with them. Great presentations make 9 out 10 success stories. 

Keep learning and follow your dream!