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Must Watch Shark Tank Episode

MJ DeMarco

I followed the science; all I found was money.
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Yup, a must watch. Also relative to turning your slowlane work into a Fastlane project.
 

Lex DeVille

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Thanks for sharing.

A great way to start the morning for sure.
 

Kinsey6287

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Great story for sure. Thank you for sharing.

I also think this story highlights a very valuable lesson in business. The sharks started to key in on it and I really hope that this guy is able to focus more on this topic with help from his new business partner.

The topic I am referring to is Fully Understanding Your (or your product's) Value to your market.

The gentleman in the video has high morals and obviously holds his morals as a priority when conducting his business. However if he sat back and really looked at the big picture of the VALUE that he is providing to the farmers buying his products I think he could easily make $5+ profit on each unit and still not be taking advantage of his fellow farmers.

He stated that the little old lady who threatened to call the cops on him, later called him up and said she wanted 49k more units because the 5 that were on trees actually enabled those trees to live.

In his evaluation of the market he is only looking at how much water conservation he can help with. Well, I also think that the disposal of dead trees, time in pulling them all up and replanting, $ in new seedlings, and in turn the "uptick" in fruit production (or whatever is growing on the tree) his tree t pee creates from simply enabling a more healthy plant.

In short I think that he is unfortunately under-evaluating his market and the VALUE he is providing his customers. I also think this story is a great tool for looking at our own business practices and trying to fully understand our markets in order to capture all the VALUE that we are providing to our customers/consumers.

Awesome video, thanks for sharing.
 

rkmalo1

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Good episode! I was curious of the update since this was an old one.

He has a contract with Home depot, a company in Germany

AND ...


As for the exciting events ahead, Johnny is working on two new products. The first is a retrofit piece that snaps right on to an existing T Pee and is used for catching rainwater as well as repelling pests. The Bug Bear, as he’s called it adds 80% more water to the tree and is lined with a metallic material to reflect light and drive away bugs. “I made this without having to use chemicals – no pesticides” says Johnny of the advantage the Bug Bear has over other pest repellants. “You throw fertilizer in the top and when it rains it runs down to the base of the tree.”

His second new product is an underground water containment system. This sub surface irrigation line holds the water on one plant for as long as needed until it’s then released down into the earth. “We don’t need nearly as much water on corn wheat, barley, rye” explains Johnny about how this new system would be best applied. The colander style system contains fewer holes in the high part and more holes in the lower part, and can be flipped to water above ground plants like strawberries.
 

Luffy

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That's a business lead with integrity and passion. I don't think he cares about maximizing profit and that's why he's able to provide so much value imo, he avoids making life harder for your fellow farmer by creating competition between them, good thing he didn't raise the price. What a great man.
 

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