Learn How To Pitch

My husband and I were on vacation and often times we like to watch something new for relaxation or to waste time while we’re waiting around to do something else. We stumbled upon this show Shark Tank which feels like it’s on almost 24/7a day on CNBC. We now make it an effort to watch the show on the nights the new episodes appear. It might have taken a few episodes of watching it to convince me what the show was about and the sensation surrounding the show. What I like about watching Shark Tank, are the judges and the format of the show. It is not your regular reality show where you’re judged and then you don’t hear back or wait around to win a major prize. It is that kind of show that you listen to the stories of the entrepreneurs, mums, dads and the kids that enter are amazing. You learn so much. This is why having a pitch, tagline, and brand info of your product comes in handy before appearing on the show. There are many times a contestant comes on the show and they only want clout for their business. I do feel bad for one shark and that is Mr Wonderful (Kevin) he puts his heart out there and sometimes he does not get chosen. I feel for the guy but this is what makes the show so great. It teaches you about rejection and how to handle it if you’re not selected by the shark. With Kevin though, he’s always asking for royalties and I can see why if the product doesn’t do well.

In college, I learned how to create a 30-second elevator pitch and on this show, you have about 30 minutes maybe less to convince the judges enough to invest in your product and your brand. Some of the judges have that background and you can google them. Mark Cuban, Lori Greiner, Robert Herjavec, Barbara Corcoran, Kevin O’ Leary (Mr Wonderful), Daymond John all very known names in their respective industries and sometimes special guests. The business owners sometimes go through humiliation because their products didn’t get a Shark interested or the Shark just knows automatically it will not go well. There were some products that I thought were great and should have gotten a deal even if it wasn’t in their portfolio. The Sharks each go through branding and marketing. They talk about financing the business and the cost to operate. Which is a lot sometimes and little at times depending on the offer. I feel that owners who come on the show should watch a couple of episodes to escape embarrassment. Have your research done. Get your tagline in order.

My real-life Shark Tank moment. I actually attended a Shark Tank workshop in my area. I wanted to learn how to invest and get to the next level to be an entrepreneur myself. They promoted the event as meet and greet of sorts with Daymond. I was kind of excited to wait my turn and get in line to learn all about what he had to offer. What a bust! I did not get to see or meet Daymond and I was totally disappointed because they wanted you to buy into their workshop in order to get to that next level which cost a lot by the way if you want to develop yourself. Shameless plug here but that is why programs like Toastmasters exist for people can join Toastmasters for like 1 dollar a year to improve on anything they want to like practising an elevator pitch. Toastmasters or other similar organisations allows you to create your own platform and then you can challenge yourself to get to the top. I won’t fall for a promotion like that again. I don’t even know how many people actually got to go to the next round. Maybe, if I come up with a product of my own to pitch I can get on Shark Tank and share my story and a Shark might just invest in me.

To all of the entrepreneurs out there, I wish you all the best on this show. I want to see success and keep on dreaming. Remember to practice your pitch. It’s all about the packaging and numbers. As Mr. Wonderful says your company’s evaluation matters or I’m Out!

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