February 9, 2012

Would You Survive The Shark Tank?

Shark Tank is a reality show on ABC and I have become a loyal fan.  The show features a panel of very successful and wealthy entrepreneurs called "the sharks".  The panel evaluates and negotiates investment proposals from entrepreneurs and may offer investment capital, support and expertise, or make an offer to buy the company, or the product license or patent.  The varied personalities of the panel members and all the business ideas, make for a really interesting show.  Anyone in business can  learn something from watching. 

The impressive panel of 5 "Sharks" includes:

  • Robert Herjavec -  He sold his 1st tech company for $100 million dollars and now heads The Herjavec Group, a leading IT security and infrastructure integration firm.  He also owns his own private island.
  • Barbara Corcoran - She built a five-billion-dollar real estate business.  Maybe you've heard of The Corcoran Group.  Yes, I thought so.
  • Kevin O'Leary -  He sold his educational software company to the Mattel Toy Company for a whopping 3.7 billion dollars, one of the largest deals ever done in the consumer software industry.  He also founded his own mutual funds company, O'Leary Funds.
  • Daymond John - His creative vision helped revolutionize the sportswear industry as founder, president and chief executive officer of FUBU—“For Us, By Us”—  He is one of the most sought-after branding experts and keynote speakers in fashion and business today.
  • Mark Cuban - He is a highly successful entrepreneur, investor and among the most influential people in both the cable and sports industries.  Mark is probably best known as the owner of the Dallas Mavericks.  He has founded several successful companies and has invested in numerous startups.

The SHARKS were asked to give their best advice regarding the most common questions they've received over the years from entrepreneurs. Here's what they had to say: Shark Tank Tips

But, what is the #1 most important and valuable lesson I have learned from watching Shark Tank?  It's really quite simple.  "DON'T GIVE UP!!!"

There are always going to be those people that tell you that you can't do something,  your idea is absolutely crazy or you don't have the skills or talent to succeed.  I say that is total bullshit.  If you have the passion, will, desire and motivation, you can learn and do anything. 

On last week's episode, there was an entrepreneur whom none of the Sharks made an offer to.  Cuban told this man that even though they weren't interested, this was not a reason to give up.  He went on to say how some of his top sellers were ones that got laughed at.
I believe as long as you don't give up and keep trying and learning, then failure cannot exist.

Clear a spot on Friday night and join me on ABC for Shark Tank.

 I also enjoyed the post below from Business Insider - Q & A with Mark Cuban.


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