Many people dream to become rich by being an entrepreneur, but many are unable to achieve that goal. On Shark Tank, all of that can change in 15 minutes.
In Shark Tank, 6 different Sharks come onto the show and listen to all of the pitches. The Sharks on the show are not real sharks of course; they are humans who are very successful entrepreneurs. Then, depending on how they feel about the sales and inventory, they offer a deal as an investment. These investments can be in the form of royalty deals, loans, or deals for equity in the company. Only 5 Sharks can appear on the show for each episode. There can be celebrity guest Sharks on the show who were able to be successful entrepreneurs in their careers, too.
The 6 Sharks, Mark Cuban, Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O’Leary, have made investments that have changed the paths and outcomes of companies like Squatty Potty and Scrub Daddy. They help companies go from a hundred thousand dollars to a million dollars in sales in only a couple of years, sometimes even in months.
The way the show works is that 5 Sharks listen to the entrepreneurs’ inventions, ideas about add ons to products, etc. First, entrepreneurs make a presentation and hand out samples to the Sharks. Sometimes they even set up the stage for large products, like earthquake bunker beds, hammocks, tents… They ask the Sharks to test/try their inventions. Next, they give brief information about their companies ( sometimes about themselves, too ) and tell the Sharks the deal that they are looking for. Later, after the pitch, the sharks can ask questions and have the entrepreneurs explain details about their sales and other partnerships. They usually ask questions like, “What are your sales like?” or “What do you need the money for?”. Then, they decide if they want to offer exactly what the entrepreneur was looking for, or if they want to make a new offer. The entrepreneurs have the right to accept, decline, or counter the offer.
Shark Tank is a great show to watch because you can learn a lot from the Sharks. You can learn about how to be a successful entrepreneur from the advice they give to the ways they invest in companies. Also, you can learn from the Sharks’ experiences with their own companies.
I love to watch Shark Tank because of the various things about business and entrepreneurship you can learn. In addition, I enjoy seeing different products that may be a big part of the future of our planet. I give this TV show a 10/10 rating because it shows if you work hard you can achieve anything.