Shark Tank
I look forward every week to a show on ABC called Shark Tank. The gist of the show is that creative / inventive people present their product or service to the sharks. The novice usually is seeking money in exchange for a percentage of their business. The sharks, wealthy entrepreneurs, decide if the product or service is a worthwhile investment. If it is, they negotiate a deal. If not, the amateur leaves the shark tank with nothing more than national exposure.
I like the show because it gives me a glimpse of how the big players think. The sharks “attack” each other at times, and other times partner together on deals.
To me – the show is very motivating and inspiring.
But there is so much more than viewing entertainment in this 60 minute program.
I will use the phrase “to make it big” to mean being a success, or being a star in your field.
To make it big, one must be creative by seeing a need and fulfilling it. Or, by taking an existing product or service and improving it. So, put your thinking cap on or pay attention to your surroundings.
To make it big, one must also know when to seek help. At times there have been young entrepreneurs on the show who have unrealistic projections for their business. In short, sales do not jive with what they think their business is worth.
Seeking help is a great thing, however, who you seek help from requires wisdom and discernment. Having just $500 in sales would not justify you seeking a $1 million loan. You must know when your fruit is ripe for a larger opportunity.
To make it big, one must also be flexible. Know when to negotiate and when to stand your ground.
To make it big, one must learn who to seek help from. Seek help from people who have the expertise in the arena you are playing in.
To make it big, one must know when to STOP talking. All too often people talk their customer into the sale and continue talking – taking the customer out of the sale.
To make it big, one must know how to present their product or service. Flashy words, the latest audio video tools are not always what will get you to the top.
For many years, the term elevator speech was used in the business world – a 30 second description of what you do or your business. Times have changed. That 61 speech is now a 10 to 15 second blurb.
One must know when to say yes. Fruit is ripe on the tree for only so long. Know your target market. Know the public’s buying patterns.
And, in line with that – know when to step away. It is better to step away gracefully, than to have an ugly memorable tumble.
To make it big, one must know who is offering the best deal. Do your research, know your team’s strengths and weaknesses. Then, go out and fill that weakness gap.
To make it big, one must have self confidence and believe in YOU.
Have a great week
Ron
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