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Shark Tank

Discussion in 'General Entrepreneur Discussion' started by Bryan James, Sep 5, 2018.

  1. Bryan James
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    Bryan James Bronze Contributor Speedway Pass

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    Anyone here watch "Shark Tank" the reality TV show with Mark Cuban, Kevin O'Leary and other investors? I find it very entertaining but as a business lesson I find it inherently questionable. My point is that my first 6 or so successful and profitable businesses required literally NO (as in zero) investors whatsoever. I'm just concerned that budding and young entrepreneurs with little to no experience who watch the show will reason that investors are a necessary component to a successful business. I find that aspect of the show somewhat detrimental to actual business success. I didn't need investors to create and manage successful businesses. Your thoughts on the show?
     
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  2. ZF Lee
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    ZF Lee Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Great, if you want to find some good ideas on how the folks found their business ideas, and communicate their progress or thoughts under pressure.

    I first found interest in the area of household goods and tools from the show itself. These product lines usually got good offers from the Sharks and some even already had some nice sales figures. A fresh cry from the usual tech/apps drivel the media feeds us with.

    I think customers are our investors....?
     
  3. Bryan James
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    Bryan James Bronze Contributor Speedway Pass

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    As business owners customers are our bosses.
     
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  4. BrooklynHustle
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    BrooklynHustle Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I tend to agree. I look at it as an entertainment product more than anything else.

    Somebody else shared this video in another thread, and he makes some great points (which are fairly similar to your concerns)


    View: https://www.youtube.com/watch?v=rCAJnbl91aE
     
    Last edited: Sep 5, 2018
  5. LittleJohn
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    LittleJohn Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    I have also seen episodes where the sharks push the entrepreneur away saying things like, "you don't need an investor" and then give their reasons, etc.

    I can see how some people might start believing they need investors or need something beyond what they already have but in my opinion that person would still be learning what goes into being an entrepreneur and/or not resourceful enough to actually be an entrepreneur.
     
  6. Sebastya
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    I love the show but only for entertainment purposes.
     
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  7. Scot
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    Scot Ductus Exemplo Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    The show is great for entertainment...

    But it spits in the face of the actual investment community.

    It’s given me a whole different perspective on things now that I’ve been exploring outside investment.

    My favorite episodes are where the founders say, “we can’t give you a $500k valuation because our other investors came in on this round at a $1m valuation” and Mr Wonderful says, “well, I’m more valuable! I want this valuation” For all this dude knows, Sequoia Capital could have led the round and no sir, you are not more valuable than a high powered VC firm.
     
  8. Sebastya
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    Well apparently an appearance on shark tank is said to be the equivalent of an $8m ad buy, so there's that.
     
  9. Scot
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    Scot Ductus Exemplo Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Yes, but you’re getting that exposure with or without an investment.
     
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  10. Iammelissamoore
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    Iammelissamoore Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    I will admit that, in addition to reading TMF and Unscripted, I see Shark Tank through different eyes. There are always valuable lessons in everything we indulge and Shark Tank's the same for me. I haven't looked at it in a long while, but, I learnt one or two things behind it.

    I DO remember Mark Cuban stating, not on the show, but in an article that it is quite not-so-smart to enter business looking for investors, because he sees it as if you are literally giving away a whole lot of your business for exchange of minimums. He went on to mention that real Entrepreneurs find a way to fund their ventures.

    I know often times on this forum, we speak about the many avenues to fund our ventures, outside of investments. I guess depending on what is entailed in the business, it may be necessary, even as a last resort for some people to seek investments from an investor; but, for the most part, if as Entrepreneurs we are problem-solvers, then, we can quicker find genuine alternatives to solve our own financial concerns regarding initial capital etc.

    Just my two cents.
     
  11. Gold7
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    Gold7 New Contributor

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    I watch the show sometimes only to see what great products people are inventing or reinventing, I don't really pay attention to the sharks I watch it for the entrepreneurs and to be inspired by what they are doing.
     
  12. Siddhartha
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    Siddhartha Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    View: https://www.youtube.com/watch?v=qvYVTupRIKk


    I've been watching some shark tank lately, the above episode was completely choice:

    1)High energy, easy-going and non-desperate pitch
    2)Business already doing reasonably well for itself
    3) Leverages existing infrastructure to improve product and produce value

    I'm pretty pissed that I had never even thought that an ice-gel product would be a good thing to fit at the bottom of a beer coozi to keep drinks cold, but I applaud these two men for noticing something in front of everyone's faces, an issue everyone disliked, and going for it (and getting Mark Cuban to fund them).
     
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  13. Siddhartha
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    Siddhartha Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    View: https://www.youtube.com/watch?v=pAETSJnfcaY


    Holy mother of value skews batman

    Take paper towels
    Replace bleached paper with bamboo fiber material
    Material is also incredibly absorbent while being eco-friendly
    Reduce sheet-count because sheets are machine washable if you want

    Fantastic product that shows there's always room to play around with skews a la the layout in unscripted. I hope to see this product on store shelves at some point.

    EDIT: I tracked them down on amazon, they seem to be doing very well for themselves at least in the online market.
    upload_2019-5-14_6-2-35.png
     
  14. Runum
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    Runum Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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