If you’re not familiar with ABC’s show Shark Tank, it is a show 100% about entrepreneurship. The show is made up of a panel of successful business entrepreneurs who listen to numerous pitches from other entrepreneurs who are looking to raise capital investment in hopes of growing or saving their business. The panel consists of Kevin O’Leary, Robert Herjavek, Daymond John, Barbar Corcoran, Lori Greiner, and Dallas Maverick’s owner, Mark Cuban. It has helped us in more ways than one, even in the development of our new product.
At Cirion Group, we are HUGE fans of the show! We like it so much that during our first year of business, we would put on an episode to watching while eating lunch. Fortunately, because Shark Tank is on ABC, we were able to watch the OnDemand episodes. Something, though, this was dangerous because we would finish one, decide to take a longer lunch break, and watch a second one. Whenever we meet other young people who are interested in starting their own business, we always recommend to them the show Shark Tank. Here’s why:
- Investor Insight. Shark Tank is an incredible look into the mind of investors. Pay attention to the questions they ask. What areas are they most focused on? These are probably areas that can make or break a business. What specifics do they want to know? These are probably the key measurables that indicate the health of the business or soon-to-be-business. What specifics do they not really care about? These are probably areas that novice business people think is important but in reality, they’re not.
- The Pitch. Shark Tank is also a great opportunity to hear the different forms of pitches. If you’re going to be pitching your idea to potential investors or strategic partners, this is a perfect opportunity to watch others take a stab at it and learn from them. Even if you’re not going to be talking to investors or partners in the foreseeable future, this is still a great opportunity to learn what you think sounds the best so that you can hone your elevator speech to a concise and powerful story that WOWs people who ask about your business.
- Fun. When it comes down to it, the show is simply fun. What makes the show so great is that it can play two roles very easily. If you’re watching it with like-minded people (other entrepreneurs or business people), this show gives you a sounding board to strike up deeper conversations about business and the startup world. The other role it’s very useful for is an introduction into the world of entrepreneurship and business. If you’re with someone who typically doesn’t care about business, this is a great show that will more than likely grab their attention. Use it as a way to show them a glimpse of the wonderfully interesting world of startups, business, growth, and more.
Well, are you convinced yet? We highly recommend you check out Shark Tank. Remember, it comes on ABC on Friday night. If you’re tired after a long week of work and don’t feel like being super active on Friday, it’s the perfect scapegoat. You’re welcome.