ABC’s popular business-pitch show, the aptly named Shark Tank, features a rotating cast of six successful entrepreneurs looking for their next big investment. Names include Mark Cuban, who made billions in technology and owns the NBA’s Dallas Mavericks, and Daymond John, a branding expert who made his first big splash with his FUBU clothing line.
Watching the show can be the equivalent of taking an online marketing course. You see real-life examples of how pitches live and die, and the “sharks” are frank about offering brutally honest but solid advice based on their extensive experience. Save yourself some time and trouble by incorporating some of their top insights.
- You may be in love with your product or service, but you aren’t the one who is going to be buying it. Many issues can be solved even before they arise by looking at your business from a customer’s point of view.
- “It’s not what you know, it’s who you know.” You may not move in the same circles as these “sharks”, but you can use special interest groups and other networking opportunities to make valuable connections.
- Always look ahead. How can you increase market share, create add-on sales, develop repeat customers? It’s said that sharks have to keep swimming or they’ll die. Whether or not that’s true, it definitely applies to business. Standing still will get you nowhere.
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