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shark tank louisville

by The Leasing Group

Heads up Shark Tank fans, the sharks have something to teach us.

 

Yes, they are self-promoting.  Yes, the “real” investing is done after the show and off camera.  Yes, the producers select the most outrageous and colorful wanna-be entrepreneurs, not only the most viable.  Yes, conflict theatrics and performance often trumps investing in the best start-up companies.

 

And yes, in the process the show’s creators become wealthy while the sharks become house-hold names.

 

Still, the Shark Tank can teach us something, maybe even something about ourselves.  Because money aside, the sharks gravitate to those with certain traits.  They will invest not in only an idea, but in idea people who clearly exhibit the following:

 

  1. Enthusiasm.  If you pitch your business, you better explode with excitement.  Passion must ooze from every word you speak.  Your body language must scream “invest in me, my product is the next light bulb, the next horseless carriage, the next IPhone.”

 

  1. Communication.  These sharks are smart and quick, so tell your story without stumbling.  Who are your customers?  How do you reach them?  Why will they buy?  If the Sharks can’t visualize a path to sales, they will eat you alive in front of five million viewers.

 

  1. Commitment.  Working hard and long isn’t enough.  The sharks want every drop of your blood and sweat invested in implementing the plan.  Quitting cannot be part of your DNA.

 

These sharks are radical individualists.  Lorie looks through the lens of her Shopping Network, while Kevin prefers licensing opportunities and Mark invests when he sees connection to the world of sport.  Daymond can open doors to retail and Robert to IT.  But, when they see enthusiasm, communication and commitment they circle their prey as one.

 

Why?  Because enthusiasm, communication and commitment are the traits that predict success!  

 

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Lessons from the Shark Tank