Investors bite when you know your numbers like Tippi Toes, a company that attracted attention from Barbara Corcoran and Mark Cuban.
Before we move on to the next episode of Shark Tank, which is about to air, I wanted to talk about the Entrepreneurs from Tippi Toes. They did an incredible job in their presentation and negotiations with the Sharks.
They have their plan down and they are not afraid to execute. They know their numbers and have incredible passion for their business. They are working on a brand and use momentum to keep others from entering their space.
While it was quite entertaining to see the Sharks fighting over the deal, what Mark Cuban did was brilliant. He forced a take it or leave it deal while others were trying to negotiate. When Mark wants a deal, you are going to have to put your numbers on the table and pay the price.
Barbara Corcoran didn’t even see that one coming. I imagine that Mark Cuban will create some friction with the Sharks behind the scenes.
It’s great if you can get investors competing against each other. That puts the ball in your court. In the past episodes, the investors have worked together which may have killed some deals that would have happened otherwise.
I know many people question if investors negotiate like what is show on Shark Tank and I’ll give you the short and simple answer. Yes!
You never know what potential investors are going to throw at you and if you don’t know what you’re talking about you won’t get the deal.
There was another shark that had the Shrimp sandwich that was destroyed by Kevin O’leary. He got killed because Kevin had numbers and spoke with great authority. The Shrimp sandwich guy couldn’t back it up and he positioned himself as a nice guy looking for help. He actually appeared desperate and not passionate about his product.
It’s time to watch Shark Tank!
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