Free Essay

Shark Tank

In: Business and Management

Submitted By ceracity
Words 665
Pages 3
Conan Chan
9/16/12
1. Who are the sharks? * Barbara Corcoran. She specializes in real estate. Her strengths and skills including having good people skills, enjoying her business, being creative, and taking risks on her investments and decision. * Daymond John. He specializes in fashion. He has a creative vision and understands the importance of fresh perspective. His public confidence is also top notch. * Robert Herjavec. He specializes in technology. He values pure hard work and intuition. He is also a best selling uthoer and has unlimited dreams due to his "rgs to riches" background. * Kevin O'Leary AKA Mr. Wonderful. He specializes in education software. He is a self-proclaimed eco-preneur who makes money, but environmentally friendly investments. He loves to take control and has a take-no-prisoners, cost cutting style. * Mark Cuban. He specializes in Media and Sports. HE has exceptional leadership. He works twice s hard as any other person. He is able to make sacrifices. He has strong dedication, honesty and commitment.
2. Pick 3 of the sharks. For each of the three you choose, report on one deal in which they invested. 1. Barbara Corcoran. The entrepreneurs are Erika Welsh and Keeley Tillotson and their product is Wild Squirrel Nut Butter. They have sold thousands of jars on website for a 14k gross and 7k profit. The original deal offered was 50k for 10% stake. The final deal was 50k for 40%. After Shark Tank, the women moved their business to Tualatin Oregon and Tillotson's father Bruce took the CEO position. The company growth furthers as there are currently talks with a distributor that will allow the peanut butter to sell in over 200 stores along the West Coast in the next six months. 2. Mark Cuban. The entrepreneur is Steve Gadlin and his product is I Want to Draw a Cat for You. Before the sharks, Steve had sold over 1200 cat pictures in three years with a $9.32 profit from a $9.95 drawing. The original deal was 10k for 25% stake. The final deal was 25k for 33%, but Mark also had to do one cat drawing for every thousand or so. As of today, Steve has sold over 3k drawings after the show and he now has a team of employees to help keep up with the demand of drawings. Steve is able to launch other features, such as "I Want to Write a Song For You." He enjoys what he's doing for a living now. 3. Daymond John and Mark Cuban. The entrepreneur is Billy Blanks Jr. and his product is "Dance With Me." Before the sharks, Billy Blanks Jr. has had success in sharing his product to a wide variety of people and worked his way up from being homeless. The original offer was 100k for 20%. The final offer was a split offer of 100k between Cuban and John for 50% and contingent on deal with Zumba. Today, "Dance With Me" is the fastest growing fitness based dance program in America. In one year's time, it has expanded to a vast variety of locations, such as New York, Japan, and Taiwan. In the 2012 of Spring, it will spread across the US to places like Boston, Kingston, and Las Vegas.
3. What questions do the sharks ask the entrepreneurs most often? Is there a common theme to their questions? They ask a lot about the numbers and statistics. They want to know how successful the businesses currently are through sales and how the future would turn out. They also want to find out who else is in the deal, so they can ensure they get the most out of their investment. Most questions are extremely direct and test how prepared the entrepreneurs are. They always extract as much information about the entrepreneur's company before making offers on it. This is because it is their own money at stake, even if they have the leisure of tossing a large amount away.

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