Shark Tank [American Version of Dragon's Den]

SharkTankTVShow · Dec 17, 2009

Thanks for posting Shark Tank Episodes... I hope you continue to post videos because Shark Tank will be back on the 8th of January 2010.

http://abc.go.com/shows/shark-tank/

MJ DeMarco · Dec 17, 2009

Guys who reported this thread as spam; I'm going to let it stand because it might actually help someone here get on the show and get funded!

kurtyordy · Dec 17, 2009

PhxMJ said:
Guys who reported this thread as spam; I'm going to let it stand because it might actually help someone here get on the show and get funded!

at least tell us who was first.

MJ DeMarco · Dec 17, 2009

Lamboman350!

kurtyordy · Dec 18, 2009

PhxMJ said:
Lamboman350!

grrrr.

btw- is this site legit. Isn't it possible for the guy to just be forwarding the domain for now so that it gets under the radar? Anyway to find out?

MJ DeMarco · Dec 18, 2009

kurtyordy said:
grrrr.

btw- is this site legit. Isn't it possible for the guy to just be forwarding the domain for now so that it gets under the radar? Anyway to find out?

The site doesn't look legit ... looks suspicious ... I edited the link to the real show.

PaulRobert · Dec 18, 2009

kurtyordy said:
grrrr.

btw- is this site legit. Isn't it possible for the guy to just be forwarding the domain for now so that it gets under the radar? Anyway to find out?

There is a sheriff-in-training coming for you Kurt! :wave:

Yeah, I was debating whether or not the site was legit also. Thanks MJ for editing and placing the real link.

PaulRobert · Jan 8, 2010

A Reminder- Shark Tank comes back tonight at 9 Eastern Time. Looking forward to it.

Rem · Jan 8, 2010

Watching it now. Its' good stuff. I like the helmets where they put 3D designs on them and they hold the only patent to do this. If I had a ton of money I'd go in on it no doubt. All some of these people need is money and some direction from experienced people and these ideas would friggin' grow 10 fold.

Rem · Jan 8, 2010

Portable golf cleaner. Neat and probably works. I play golf and I like to carry a light load. I probably wouldn't buy one. Well maybe would to have it but I doubt I would ever use it LOL

PaulRobert · Jan 8, 2010

sm media said:
Portable golf cleaner. Neat and probably works. I play golf and I like to carry a light load. I probably wouldn't buy one. Well maybe would to have it but I doubt I would ever use it LOL

I actually liked the product and it was very appealing to the eye. It would be very good for corporate giveaways.

What I am still trying figure out is the Ink-Porto whatever it was. I think he wanted to grow big, too quickly.

Another lesson that I refreshed from this episode: ALWAYS Do your Homework.

Rem · Jan 8, 2010

Yeah they were hard on the ink guy. What did they want to know? How much it cost to get a new customer? WTF. I know the guy is a shark but jeez doesn't that depend on where and how you promote and where you toss your money at? I didn't think that was a major determining factor.

I think the idea is good but it needs to go viral quick... not so much money for inventory but to just promote the crap out of it.

Rem · Jan 8, 2010

We need a thread to make deals man. I would just come read it and follow for entertainment.

"I am here today to ask for $100,000 in exchange for taking my business right out from underneath me.... or 99% of the equity. " :smxF:

DeletedUser394 · Jan 8, 2010

SM, if you get the chance I would highly recommend the canadian Dragon's Den or even the British Shark Tank. They don't waste time, are a lot more inciteful and informative.

Also, I believe Dragon's Den holds the record for the biggest deal... $1.25M for 10% equity...something crazy like that...and the "man" was in his teens I think.

MJ DeMarco · Jan 9, 2010

I liked the ink-deal guy however, how can you not know your acquisition cost? The following questions should have been ...

1) How many customers do you have?
2) How much dollars did you spend to get those customers?
(divide the two and there is your prelim acquisition cost)

He did have customers already didn't he? (He knows that figure)
He has to know how much $$ he spent to get them.

Rem · Jan 9, 2010

PhxMJ said:
I liked the ink-deal guy however,

He did have customers already didn't he? (He knows that figure)
He has to know how much $$ he spent to get them.

Very good point. He should have known. I wasn't paying too close attention but if he already had customers and he did dump money in already, he should have known. Didn't he say he had already dumped in $50K but only had like $10K left or something. Maybe that was someone else.

Rem · Jan 9, 2010

See this is how I look at the whole thing with the Shark Tank. These people who come in and want all this money for such a small percentage of the company aren't really thinking. What is it they want? Is it fame or fortune? I would much prefer the fortune. If I had a brilliant idea I thought could take off with the right resources but I am a nobody, why would I not offer them right off the bat 51% of the company and then they can dump in how much money they want. Show them the figures, get them up to speed, and then collect 49%. Heck these guys could turn some of these businesses into fortunes for you but instead these people want to take the money, work their a$$ of with all the control of the company, and profit... what... less?

I say give up control for more money. I would much rather take 49% of a hundred million dollar company than take 60% of a $2.5 million company.

I would say, "hey I was the Founder of this wonderful company, and I made a business deal to launch the company into the next phase, even though it meant finding better resources and giving up a bit of control.

The helmet deal.. I would have given him 70% of the company and I would sit back and just collect 30% on royalties for the rest of my life. These people I guess just want all this control and fame and work their asses off for the rest of their lives. Screw that. Get an idea, get it going, prove it works, but sell your idea to those who have more influence and more control in the industry and collect. And then move on to a new idea. Now tha'ts fastlane. :thumbsup:

PaulRobert · Jan 9, 2010

sm media said:
I would say, "hey I was the Founder of this wonderful company, and I made a business deal to launch the company into the next phase, even though it meant finding better resources and giving up a bit of control.

What many of them do not see is the learning opportunity they have if they go into business with them. If one of the sharks is in control of your company, you can learn first hand how to run a business and make it work well. Some are more interested what is it in for them instead of what can come of their business.

Rem · Jan 9, 2010

With that said, anyone want to take 49% of my company? :tiphat:

PaulRobert · Jan 15, 2010

Another Friday, another episode. Robert is probably my favorite shark of all. He cares more about the value and passion of the product or service than just the money. A great Faslane principle. Add more value to your customers and more money will come.

I really liked the PidoPillow. It has great potential and is already in some major catalogs.

The Grease-Monkey Wipes are going to be a hit IMO. Especially since I am a clean freak. Wet-Ones don't always take out the stains.

Now, I am going to ask random people in NYC, where they got their shirt. :rofl:

Sparlin · Jan 16, 2010

Lamboman350K said:
Another Friday, another episode. Robert is probably my favorite shark of all. He cares more about the value and passion of the product or service than just the money. A great Faslane principle. Add more value to your customers and more money will come.

I really liked the PidoPillow. It has great potential and is already in some major catalogs.

The Grease-Monkey Wipes are going to be a hit IMO. Especially since I am a clean freak. Wet-Ones don't always take out the stains.

Now, I am going to ask random people in NYC, where they got their shirt.

I think the sharks may have been waiting for the Pidopillow People to drop their price, but they didn't pick up on it. That product would probably sell, especially if they change the name.

bflbob · Jan 16, 2010

Sparlin said:
I think the sharks may have been waiting for the Pidopillow People to drop their price, but they didn't pick up on it. That product would probably sell, especially if they change the name.

They can't drop their price. That's the rule on the show...you must get your full asking price, or nothing. The only way to make the deal more affordable for the price is for the shark to get a higher percentage of ownership. but, as one of the guys said, "I'd need 200% of the company for that price."

Sparlin · Jan 16, 2010

bflbob said:
They can't drop their price. That's the rule on the show...you must get your full asking price, or nothing. The only way to make the deal more affordable for the price is for the shark to get a higher percentage of ownership. but, as one of the guys said, "I'd need 200% of the company for that price."

That makes sense; I'd wondered why the company owners didn't do the obvious and negotiate a lower price. Perhaps someone watching the show will contact them and make a deal. Then again, someone else may run with the pidopillow concept and develop their own version of the product.

Bond · Jan 16, 2010

Lamboman350K said:
Another Friday, another episode. Robert is probably my favorite shark of all. He cares more about the value and passion of the product or service than just the money. A great Faslane principle. Add more value to your customers and more money will come.

I really liked the PidoPillow. It has great potential and is already in some major catalogs.

The Grease-Monkey Wipes are going to be a hit IMO. Especially since I am a clean freak. Wet-Ones don't always take out the stains.

Now, I am going to ask random people in NYC, where they got their shirt.

Robert is also my favourite shark, i think that he sees more than just money when looking at a business. I think that comes from where he came and how his story played a big part on how he sees others now.
Liked the GreaseMonkey Wipes, great potencial there. Maybe they can sell it not only in packs but with other products.
The tshirt guy has some passion but he must tackle the business in another perspective. If he really cares about the world then he must be more social and then promote the tshirts and take advantage of the social movement. Maybe create something like Tom's Shoes .
The PidoPillow guys really missed an opportunity here, that product could sell really well with propper marketing.

bflbob · Jan 16, 2010

The term "Grease Monkey Wipes" was the #9 highest searched term on Google this morning!

Sadly, the #1 spot was held by "Pants on the ground original video", which came out ahead of several Haiti keyword searches.

CommonCents · Jan 19, 2010

Another good show was Pitchmen where you got an inside look at the infomercial biz. Many inventors should hire or team up with a seasoned business person and/or negotiator.

maximus20895 · Jan 19, 2010

^yea, I liked pitchment too. I was sad when Billy died.

rocksolid · Jan 20, 2010

I am trying to develop a product and joke with my friends that I should go on shark tank with it and ask for 1.00 and offer 51% of the company. Since I have no real sales, all I have is what I think is a good product. I wonder how that would play out?

Rem · Jan 20, 2010

That would be funny. Actually if I were some of these people I would ask for a good amount of money but then give them 51% of the company to them. I would let them be in control of it and then learn how to run a real kickass business while at the same time earning 49% (basically half) of the company. Why these people only are offering 20% is beyond me. Pride I think it is. They are caught up in the emotions of their business.

People need to understand that they should be proud they were able to get their business to a point to sell it off to someone with more knowledge and experience and resources. You would end up making more money letting them take control than to take their money and they don't have much of a say.

I would walk in there with a great product idea that is growing and working and give them complete control and ask them to keep me on for 49%.

I would be like, I am here to sell 51% of my business... show me how it's done fellas.

Hell, I would give them permission to use my product and patent it for 20% royalties and walk away. Who wants to work when you can pass the work off and make passive income?

:tiphat:

RealOG · Jan 20, 2010

Ideas are free (and mostly worthless), it's execution that has value.

How do you value a business that has zero sales, no assets, and no brand?

What if your idea really is good? Why wouldn't the sharks just take your idea and own 100%? What do they need you for?

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Join free.

Shark Tank [American Version of Dragon's Den]

PARKED

I followed the science; all I found was money.

Bronze Contributor

I followed the science; all I found was money.

Bronze Contributor

I followed the science; all I found was money.

Gold Contributor

Gold Contributor

Silver Contributor

Silver Contributor

Gold Contributor

Silver Contributor

Silver Contributor

DeletedUser394

Guest

I followed the science; all I found was money.

Silver Contributor

Silver Contributor

Gold Contributor

Silver Contributor

Gold Contributor

Bronze Contributor

Bronze Contributor

Bronze Contributor

Contributor

Bronze Contributor

Silver Contributor

Contributor

Bronze Contributor

Silver Contributor

Bronze Contributor

Sponsored Resources: Jumpstart Your Fastlane

Post New Topic

Fastlane Insiders