And for that reason, I’m out.
As someone who bought the ad-free version of Hulu for the sole purpose of re-watching every episode of Shark Tank, I’d be remiss to not post something about their tips and tricks for a great pitch.
So, what makes for a great Shark Tank pitch? Check out this great video from Vanity Fair, and read more below.
Know your numbers
Snarky Tea founder and Shark Tank contestant Jenni-Lyn Williams impressed “Shark” investor Kevin O’Leary with her ability to rattle off numbers on command. Sales at the time of her appearance? $190,000. Cost per customer acquisition? $11. Growth? Significant after Shark Tank drew attention to the company, helping it later land deals with Walmart and other major retailers.
Have chutzpah
Don’t have any numbers for you to know? With enough confidence, it might not matter. Investor Barbara Corcoran admitted she wasn’t even sure she understood the blanket-sweatshirt combo The Comfy, but she was still taken in by the product creators’ chutzpah — “their courage to sit there and pitch as though they had gold.” Years after their appearance, The Comfy has grown from not having any inventory to selling multiple versions of their popular item.
Motivate others
Former pro football player Al “Bubba” Baker has had a lifelong love for barbeque. “Sadly, I married a woman who doesn’t like ribs because they’re too messy. So I vowed to find a way for my wife to be able to enjoy ribs.” From this simple yet empathetic story, Bubba’s Boneless Ribs was born. Investor Daymond John says Baker’s responsiveness to others make him a highly motivational presence, including for potential buyers of his product.
What are some ways you can make your pitch shine when you present it to potential investors? Let me know in the comments below.
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