Are you an entrepreneur?
It does not matter whether you are an entrepreneur or not to start a business or a company.
But what matters is your idea, the demand of the product you make in your business or a Startup, and your marketing, pitching skills. How a product can be marketized?
Have you ever heard about Shark Tank? It is an American business reality television series. The main theme of these shows is that the show features a panel of investors called “SHARKS”, who decide whether to invest as an entrepreneur make business presentations on their company or a product. It is considered one of the best reality shows. It has won the Primetime Emmy Award for Outstanding Structured Reality Program four times (2014–2017). Before that, it won the Outstanding Reality Program. It is an American show and good news for Indian innovators, businessmen, and the Engaging Young Entrepreneurs is the “Shark Tanks” is coming to India soon.
Sony TV has acquired the rights to the reality show’s Indian version titled Shark Tank India.
Investor — The Real Businessman.
Sharks in Shark Tank are the investors who invest their money if they like the business presentations or the product. Barbara Corcoran, Mark Cuban, Lori Greiner, Robert Herjavec, Daymond John, Kevin O’Leary, Daniel Lubetzky, and Blake Mycoskie are famous investors (Sharks). Every businessman or an entrepreneur needs an investor. If you need cash or financial support if you are just starting a business, an investor can be a great idea. They will provide you with the funds needed and won’t require you to repay. Most investors will be paid back concerning their equity in the company, or the amount of business that they own based on their investment.
For example, you can validly ask for $200K-$300K and offer 20–30% of your company in exchange.
Investors are of three kinds:
Type 1: Pre-Investor- He is characterized by minimal financial consciousness or awareness.
Type 2: Passive Investment Strategy-The Graduation of pre-investor status, having some responsibility. It is the most common starting point on the road to financial security.
Type 3: Active investors- They are building on the foundation of the passive investor. They are all about return on capital. It pays to focus on adding value.
Having an investor has both Pros and Cons.
Pitching Decide
Pitching refers to presenting your business ideas to another person who might invest in your business or company. People pitch because they need resources. Reaching an investor is the best option if the main goal is to raise startup cash. Some organizations pitch because they need a partner or resource to help them accomplish their mission.
Why is pitching so important?
Learning how to pitch is one of the most important skills an entrepreneur or a founder needs to know. The pitch needs to give your audience a clear understanding of your goals or plans. An elevator pitch is a condensed, easy-to-understand version of a business pitch and delivering in time.
Some key points of a successful elevator pitch include:
· Brief Description of the product.
· Personal history which may cover details of your qualifications, achievements, and skills.
· Target Market, which includes the demand of the product in the market and the price.
· Project Earnings which add the previous sales and anticipation of the sales in future.
· Competition and advantage information about competitors, highlighting features that make your product unique and superior in the market.
Here are some of the best pitching in Shark Tank in my opinion.
Decision Making
Managing your pressure and making the right decisions is one of the important things to attract the sharks. The decision-making process is one of the most critical processes in your company or a pitching status. The investors(SHARKS) generally increase the percentage share or stake of your business or company. The right decision-making and convincing the investors is an important skill for an entrepreneur.
Investor Robert Herjavec, one of the shark Putts for 5% of Bad Birdie.
From season 11, episode 18 of Shark Tank.
Shark Tank in India
Everybody needs publicity, but not on a medium scale. In this economic and competitive market every entrepreneur, business person, the startup needs publicity on a global scale and that has to be fast enough. A good platform for achieving them is via Television and social network. Shark Tank is the appropriate TV show which point provides it to many startups and business knowledge.
The make in India campaign
Started by Prime Minister given much success to many startups. Currently, there are a lot of Venture Capitalist firms (Sequoia, Helion, Fidelity, etc.) who work and deal directly with a lot of Indian Startups and give them funding and investment. So with a proper team and well-defined format rules, I see no reason why Shark Tank wouldn’t succeed in India.
