preparing for the shark tank
DESCRIPTION
The Shark Tank experience is one like no other. All too often we see unprepared entrepreneurs and small business owners enter the Tank, only to walk out empty-handed and completely frustrated. If you are planning on entering the Shark Tank, make sure you take the time first to view the first slideshow in Season 5 of Shark Tank, exclusively by Blog Shark Tank (blogsharktank.blogspot.com). Know everything there is to know before standing in front of the Sharks - Mark Cuban, Kevin O'Leary, Robert Herjavec, Barbara Corcoran, Lori Greiner, and Daymond John. This is the Shark Tank. There is nothing like it on Earth.TRANSCRIPT
Preparing for the Shark TankBy: Jeff Hopkins, Owner at BlogSharkTank.blogspot.com
Season 5Issue 1
“This is the Shark Tank. There is nothing like it on
Earth.”
– Kevin O’Leary
“So come prepared.”
– Jeff Hopkins
The Company
The Market
The Valuation
The Pitch
Table of Contents
The Company
Your
Company
•Who are you?
•What do you do?
•Why do you do it?
•Where is your company holding now?
Your
Vision
•What is your goal?
•How are you going to achieve it?
Your
Brand
•What are your core values?
•What is your moral compass?
The Market
What market is your business
in?
How big is the market?
Who are your competitors?
What share of the market do you currently
control?
What share of the market are you aiming to
control?
What is your plan to getting
there?
The Valuation When negotiating a business
valuation, it is important to always bear two things in mind:
1) What is the lowest I am willing to go?
2) If I were the other party, what would I truthfully want for the money I am asking for?
The Pitch
Dress up Rehearse Bring samples
Leave your ego at home
Don’t lie Know your numbers
The Art of the Pitch
Negotiating like a Shark
Choosing the Right Partner
Coming up next…
Don’t forget to catch the latest critiques at
Blog Shark TankBlogSharkTank.blogspot.com