We recently asked the Sharks about their experience in the Shark Tank - from the best investments they've made to what makes a good pitch great. See what they had to say.
Question: What is the best investment you have made to date on Shark Tank ?
Answer: Chordbuddy comes to mind – great guy and an even better investment – product has found a niche and we have had spectacular growth.
Question: Have there been any deals that you had wish that you made in hindsight? Any investment that you wish you hadn't made?
Answer: No – my life has no rear view mirror – constant forward momentum. You can't change the past.
Question: Any service/product that you wish you had invented yourself?
Answer: No – I'm not a big believer in invention - I have lots of ideas, but the magic is not in the creation of ideas – it's in the execution of the plan.
Question: Is there anything that has surprised you over the season in terms of the pitches?
Answer: People know us – they study us – they are becoming more astute – we have to elevate our game – not only with the pitchers but also against the other Sharks.
Question: Is it possible that someone can have a great idea, but fail in the tank because they can't pitch?
Answer: Yes – happens all the time. A great business is a mixture of the right entrepreneur, product, execution and so on. You can't have one without the other – a great idea without a great entrepreneur is not a business – it is simply potential.
Question: What's your best advice on how to pitch?
Answer: Get us interested ( quickly ) – bored Sharks make snap decisions – and not always in your favor. Once you have us interested – know your numbers.
Question: Do you have to be memorable to make a good pitch?
Answer: No – but you have to be able to make an impact while you are in front of us.
Question: What's the most important lesson an entrepreneur can learn by watching what goes down in the Tank?
Answer: If the 6 of us can be successful, anyone can – and more importantly any business, in any field can be a great business – look at the varied set of products and services people come to us with.
Question: What's been the most memorable part of being on the show for you?
Answer: Inspiring others – when I was growing up being in business was not cool. I think Shark Tank is making business cool in our own small way – and of course, as a boring old computer guy, I am appreciative that my name and cool would ever be used in the same sentence.
See what Barbara had to say.
See what Daymond had to say.
See what Lori had to say. See what Kevin had to say.