Oh come on, admit it. You’ve been watching “Shark Tank “, too. If not, you’re missing one of the most entertaining hours on TV.
If you haven’t seen it, it’s kind of an “Economic Fuel” competition on steroids. The applicants are generally looking to sell a percentage of their enterprise to a “shark” or investor. The businesses range from those with just a patent who are looking for a licensing deal to enterprises that already have sales and big prospects. Some just need money; others need a partner to help them get to the next stage. One of the most common reasons a shark passes on investing is that her/she doesn’t feel they can help much, not familiar with the field, have a conflict etc.
The “sharks” are the real stars. One is a nice-guy tech magnate. One is a lady real estate tycoon with bigtime connections to the Home Shopping Network. The self-styled “Mr. Wonderful” is another tech guy, who asks the tough questions about how the applicants arrived at their valuations. One, the founder of the FUBU fashion line, is himself kind of a knockoff of Sean Combs. And Mark Cuban-.well, what can you say about Mark Cuban? He’s always entertaining, and sometimes he’s actually wise.
If you haven’t been watching, it’s worth taping. You’ll hear from folks who are experiencing the same problems we all do with our startups. Give it a try. It currently airs at 9pm on Fridays but set your DVR for “anytime” because sometimes they sneak in an extra episode in the wee hours of the morning. Not the greatest marketing strategy but what do I know? Enjoy, and let us know what you think.