The Shark Tank feeding frenzy typically starts at around 7:30 PM eastern time- a half hour before the show starts. That’s when the sharks start tweeting at #Sharktank. The tweets fly fast and furious, but the sharks do answer questions from “regular folks” throughout the half hour preceding the show. If it weren’t for tweaking my email notifications, I would have missed out on some of the replies to my questions.
Last night Lori Greiner (@LoriGreiner) was doing the bulk of the tweeting. Kevin O’Leary was out there too. Mark Cuban and Daymond John were lurking while Robert Herjavec opted out for a father daughter dinner/dance.
I have attempted to cull some of the questions Lori and Kevin answered into an interview style format to give our readers an idea of what was going down on twitter prior to the show.
Stephen: What’s the average number of investments made through shark tank that end up failing?
Lori Greiner: I don’t know.
Felix: Can you patent a fictional idea/product. ie- a device for summoning Santa Clause?
LG: I don’t think so…..(hey she’s not an attorney- she just plays a shark on TV).
Kim: What if I don’t have millions in the bank, how can I invest in great biz opportunities like you?
LG: Find friends with money and take a cut for making the deal.
Marc: How can you tell if an entrepreneur has a great strategy? Is track record everything?
LG: It’s a great part, but you could be new and if the item is great – you don’t need a track record.
Mike: How long does the due dilligence take after the show is taped in general? How much done ahead of time?
Lori Greiner: (It) depends on how much there is to look into; could be 1 week or could be longer.
Jake: Do you focus more on the product/business or the person behind it?
LG: Both – I find both important – can’t seperate the two.
Kevin O’Leary: I focus on the money! That’s why they call me Mr. Wonderful.
Rob Merlino: What if the idea is a can’t miss, multi million$ sure thing and the entrepreneur is an ass?
Lori Greiner: I won’t do the deal.
Kevin O’Leary: Who cares? The only relevant question is whether it will make money!
Martina: If I have an idea for a product, is it a necessity to have a prototype?
Lori Greiner: It really helps if you have a good one and to get pre sales in advance without investing a lot first.
Sara: What year did you make your very 1st investment and what was it?
Lori Greiner: 1996 on my own product.
Rob Merlino: Do the sharks take turns on Twitter duty?
Lori Greiner: No. Those who can, tweet.
Rob Merlino: Are you more likely to invest in a product or a service (assuming a good idea)?
Lori Greiner: As you can tell, I like great products, but I am open to great services too!
Kevin O’Leary: There is a great business lesson here on SharkTank. Great ideas, great products are not enough! You need to be 100% dedicated to making it happen.
Lori G @LoriGreiner retweeted to 9,632 followers:
Rob Merlino: Lori Greiner is my new favorite Shark!
Lori Greiner: Thanks!
That was all I could grab in a fast and furious half hour. When 8:00 PM rolled around, I tweeted “SSSSSHHHH! The show is on!”
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