An extended popularity of the American reality show on ABC channel Shark Tank is based on reality show format where participants present their business ideas to five influential billionaires in exchange for investments. You could really turn your life around simply by getting a shark to invest in your business, but first, they have to believe in you and your business. Before any of the sharks get on board, the’s each got their own way of investing and specifics that they look out for. Knowing what makes each of them tick can also assist in how a pitch can be delivered most effectively.
Mark Cuban: The Bold Billionaire
Mark Cuban became famous for making his wealth by selling his company Broadcast.com to Yahoo in 1999 at the eve of dot-com crises. He invests today in companies that benefit from the defense of technology or are ahead of curves which are expected to turn cyclic. Cuban is not scared to make these big gambles and big maneuvers. He wants people for startups who aspire to greatness and do not settle for being middle-of-the-road. He does well with passion, dedication and hustle. But if you are an entrepreneur with grand strategies of furious growth, and planning a market disruption, Cuban is a man you want on your side.
Kevin O’Leary: The Numbers Shark
Kevin O’Leary claims that his nickname is Mr. Wonderful, but when it comes to money investments, things can get pretty serious. He made his wealth as software entrepreneur and starting an investment firm known as AAA. He spends his time poring over figures, revenue, profit and loss, earnings ratios and scores of other things. O’Leary’s vision is that he should be shown in projections that he will get his returns within no very distant time. He does not fund projects that will not be able to turn profits in a short time span of time. He favors consistent cash flow patterns often beating the core of the profit line. If the math doesn’t add up for Kevin, he’s gone very soon. But if the numbers work, he can shower the place with dollars.
Lori Greiner: The Queen of QVC
Lori Greiner has unique consumer product insight, largely due to her experience in creating some of the most popular products across various categories sold on QVC for more than a quarter of a century. She likes self-activation gizmos, domestic appliances and devices that help to solve everyday problems. Her invested companies show that interest in consumer goods; cosmetics, kitchenware and other related products. She wants quality design and usability that addresses every day issues. She is fully conversant with ways and means through which new products should be placed and promoted in the market. Hear this; inventors and other players with new product concepts have a friend in Lori to go mainstream.
Robert Herjavec: The Security Shark
Robert Herjavec sold his internet security company The Herjavec Group that teaches large corporations from the Fortune 500 list on cybersecurity. Not surprisingly, he moves towards focused IT and technology enterprises or organizations. He plans to focus on high-risk advanced software and services with high exit returns for the buyer. Herjavec desires growth more than revenue; he is about scaling it up even more with SRY Hello girlfriends, is anyone of you interested in having SRY grow more than ten times bigger than it currently is today? If you are incubating the next new app, SaaS tool or hacker-proof digital product that a large company may eventually have to pay billions of dollars for, do yourself a favor and ask Robert.
Daymond John: The Marketing Master
Daymond John created FUBU the hip hop clothing company which was valued at $350 million at its peak. His expertise is in building health-to-life brands systematically. That is why John would like to be involved in products that are niched but at the same time attractive to average consumers. That is why Daymond cares so much about creating brand awareness through creative and appealing marketing approaches. He is all good with memorable pitches about consumer goods with a good story and would appeal to the interest of consumers. Asking for money, people need a product or service to invest in – and so does Daymond – but what he’s really interested in is the next brand experience.
The sharks got rich with their brains and guts for focusing on trends, changes and great concepts before they go viral. Knowing each of their reasons, tastes and approach to investments will enhance your business proposal to the next level. Take your time in your research and ascertain which shark has a vision that is similar to that of your company’s vision and goals. Then create your argument on why they need you as their strategic investment to take their portfolio and your entrepreneurial goals to the next level. A great story, dream business venture or a lucky break could be there for the sharks and the would-be business owners with each handshake made on Shark Tank.
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