3 Early Observations From 'Shark Tank' Email
As a rule, I’ve never liked reality television shows. But because of some of the email I’ve been getting, I’m more than happy to make a big exception.
It’s ABC’s “Shark Tank,” which has become one of the few must-sees on my schedule. In case you’ve missed it, the basics are pretty simple. Entrepreneurs seeking money for their business or idea make a pitch before a lineup of six “sharks” — potential investors — who then have to decide whether to make an equity offer or bow out.
There are questions about the product, the business model, actual profits, even the character of the entrepreneur. There are lump-in-your-throat moments when budding businesspeople talk about their struggles and what’s inspired them to innovate. There are cheers from the winners. And there’s lots of dramatic music.
It’s seriously addictive. Last fall, I started watching replays on CNBC, following the cover story and interview we ran with FUBU founder (and shark) Daymond John.
Some of the programs date from as far back as 2009, when it premiered. So I started to think about some of the products and services that tried to get funding. Did the victors make it? Did the rejected contestants succeed anyway without help from the sharks?
While watching the show, I’ve been looking up the business hopefuls with my smartphone. I check out their websites, and because Who’s Mailing What! looks at email, I sign up for that too.
Here are some quick takes on what I’ve seen so far for businesses that didn’t succeed in hooking any of the sharks. Please keep in mind this isn’t scientific, just my two cents.
1. Leverage Shark Tank
Quite a few companies advertise their appearance on “Shark Tank” on their websites, which is pretty smart for several reasons. These shows are constantly being repeated, which advances consumer awareness.