I'm Pumped for Shark Tank

[Nick]

@ Vigilante

You are right when you put it this way.. i thought you meant the brilliant idea referred to the original invention but your point of view of finding brilliance in the sales and distribution process afterwards is very rich indeed.. thanks for the answer.

 

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[dknise]

Too many idiots on the show just makes me frustrated.
I mean, how can you be so stupid and turn down a good offer of cash in return of giving away 51% of your company?
The shark will then take your company to the next level, while you don't have to do anything.
"No but I don't wanna loose control over my company"..But you'll loose control to someone who does it better than yourself, who has done it before,
who has connections and money. For crying out loud.

Actually it makes me realize that if entrepenours are generally so stupid, it will hell of a lot easier for me.

I would GIVE 51% of my company to Mr. Wonderful haha. It always suprises me when people walk away from a deal where one of the investors refuses to budge 5 or 10k. Obviously, none of them care about 5 or 10k, Kevin goes home and drinks a bottle of wine for that haha. I think it's a psychological game they play to see how bad they really want it and how far they're willing to go.

The thing that made me cringe at the single glass wine guy was his arrogant attitude and the fact that he considered what he had to offer much more valuable than what the investors had to offer. It seems most the entrepreneurs that walk on the stage don't realize that they're partnering with a passive income billionaire who has all the tools, resources, and motivation to turn your investment into a winner for the both of them.

 

[PatrickP]

Too many idiots on the show just makes me frustrated.
I mean, how can you be so stupid and turn down a good offer of cash in return of giving away 51% of your company?
The shark will then take your company to the next level, while you don't have to do anything.
"No but I don't wanna loose control over my company"..But you'll loose control to someone who does it better than yourself, who has done it before,
who has connections and money. For crying out loud.

Actually it makes me realize that if entrepenours are generally so stupid, it will hell of a lot easier for me.

Ok so let's say the shark gives you $200,000 for 51%.

Do you realize the next day they can fire you?

They are NOT going to allow you to put that in your pocket. They will require you to invest that in the business.

Then they see it is going to take say another 400K in merchendising, promotions etc and they say nope not going to do it. I am not throwing good money after bad and they give up on the company. In fact to recoup some of the 200K they invested they sell the company. They sell it for $200,000. They don't care, they got their money out and you have ZERO say in them selling it, or firing you or doing ANYTHING they want.

I would NEVER give more than 49.9% of a company.

 

[PatrickP]

I wonder how many who are saying they would give 51% of their business have a large business in which they have invested their blood sweat and tears?

Is it possible you have not done this so you do not know the feeling a person has when an investor requires 51%?

For some of us it is NOT all about the money, there is far far more to it than that.

 

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[Vigilante]

Ok so let's say the shark gives you $200,000 for 51%.

Do you realize the next day they can fire you?

They are NOT going to allow you to put that in your pocket. They will require you to invest that in the business.

Then they see it is going to take say another 400K in merchendising, promotions etc and they say nope not going to do it. I am not throwing good money after bad and they give up on the company. In fact to recoup some of the 200K they invested they sell the company. They sell it for $200,000. They don't care, they got their money out and you have ZERO say in them selling it, or firing you or doing ANYTHING they want.

I would NEVER give more than 49.9% of a company.

So true. With 51%, they could fire you the next day and then sell your company without you as baggage. And, you are under a hard core NDA that you signed early on in the process, so you can't say a word about it.

 

[Lgallion]

Nick, how does that make his sales, marketing, and distribution idea not a brilliant idea? He's got his product sitting on the check out counter of my local wine store.

What the Sharks were trying to convince the guy of was to license the technology to other wine producers because although he is sitting on a labor & capital intensive small fortune, while he could of have a labor & capital free big fortune. The wine industry is so diverse and scattered that the average Joe Consumer may be convinced that wine XYZ tastes the best, he will never be a big consumer of wine in a glass because his brand isn't packaged that way. Of course some consumers are just looking for convenience and will buy whatever, but now you are trying to market just to that small segment. This is a great idea limited by limited thinking.

 

[miked_d]

I don't watch TV a lot so I never really saw more than 10 minutes. Watched (listened really) 3 episodes on Hulu this morning while cleaning and doing stuff. It is a good show. Thanks for turning me on to it.

Now, what other shows should I be watching, if any?

 

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[Vigilante]

Mike... that and Dallas Cowboys football (America's team). That's about all you need.

 

[PatrickP]

The bed bug product last night is amazing to me.

Their cost is only 33% of what they sell it for. That is some serious profit margin

 

[Vigilante]

That all changes since they disclosed their acquisition costs on national television. ANY national retail buyer will be negotiating for a reduced cost to slightly over their OEM cost. Word to the wise from a former Wal-Mart buyer... never disclose your costs on national television (or anywhere else...)

 

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[miked_d]

Mike... that and Dallas Cowboys football (America's team). That's about all you need.

I will give you 3/10 for trolling me.