Credit: USA Today
Highlights
- Shark Tank is the perfect showcase of innovative business ideas and intense negotiations.
- Belonging to different industries, the judges have presented their impeccable investment skills, which act as an inspiration for others.
- From Mark Cuban to Daymond John, scroll through to find out key investment tips by the Sharks.
For the past 15 years, the Shark Tank cast has been investing in countless businesses and making their entrepreneurial dream come true. Even if they don’t invest, their business advice has been motivating many to make the required changes and revamp their business towards continued success.
Be it real estate veteran Barbara or billionaire investor Mark Cuban, each judge on the show has made it to glory with their unique financial paths. Here, we will get a glimpse of the same by finding the variety of investment tips they’ve shared in the past.
From doing what you love to investing in intelligent entrepreneurs, below are some of the best investment tips by the Shark Tank cast:
1. Be Open to Learning
If you want to stay in the long run, it’s crucial to be fully aware of what’s going on in the market. For Mark Cuban, anything related to technology has always been his preferred area of investment. This is why, be it his first company, which did streaming for the first time, or starting the first high-definition TV network, he has been eager to learn and try new things.
Both of these ventures skyrocketed Mark’s entrepreneurial journey in an unprecedented manner. So, if you are planning to invest in a business, see for yourself if it has any learning opportunities in store.
2. Spend Only On the Interest, Not the Principal
Kevin O’Leary has often stated in many interviews that his entrepreneurial success has been a result of his investor mother’s guidance. The advice she offered still stays with him in each of his crucial business decisions.
When asked what investment tips he would like to share, Kevin revealed that you should buy only those things that offer cash flow without touching the principal.
3. Fund For Deserving People
An essential investment tip by QVC Queen Lori Greiner is that one must invest in only those entrepreneurs who are ethical, honest, and hardworking. If any of these traits are missing or one does not like the person coming up with your business, the entire working experience would be a ‘nightmare.’
Mark, too, believes the same. In a chat with Vanity Fair, he gave an example of the Breathometer founder who secured an investment from all five Sharks. But then he allegedly spent all their money traveling and shared the pictures on social media. This is why his business has shut down.
4. Invest In Your Area of Knowledge and Expertise
According to Daymond John, if you are an investor looking for new opportunities, you must be aware of the business that comes before you. Daymond’s niche areas include fashion, distribution, and retail. In fashion as well his particular expertise lies in men’s fashion.
This is why he made it huge with Bombas, a fashion company that has emerged as a billion-dollar empire and one of the most successful Shark Tank companies.
5. Do What You Love
You should invest in something only if you have a genuine love and interest in it. The best example of this is Mark Cuban, who was always inclined towards the world of technology. To find his way towards the same, he did everything from selling newspapers to working at Mellon Bank.
Mark has often quoted in his interviews that as an investor your ultimate goal should always be to find something you love. Only then you can excel at it and make it big.
Daymond John feels the same and has stated in his byte for Vanity Fair that one thing that is common for all successful people is that they do what they really love. So, whether your interest lies in retail or technology, understand your area of interest and only then invest.
6. Prepare Yourself for Setbacks
The world of entrepreneurship and investment is never consistent. The highs and lows should never be given extra attention. Instead, similarly accept both of them. One must show their resilience and keep working towards their goals.
Barbara believes that only those businesses whose people have the quality to get back on their feet after a fall. They spend less of their time feeling sorry and are keen to fight back even better than ever.
Mark Cuban, too, holds a similar opinion and states that “hardship is inevitable” in any business, particularly in the initial stages. As an investor, you need to have your horses. No matter the number of times you fail, only one right time can bring you back into the game.
7. Stay Open to New Perspectives
One of the most crucial things to note for any aspiring or experienced investor is to be open to new perspectives. You should be acceptful of new ideas and motivation. Without this, you won’t find any real growth opportunities.
In his byte for Vanity Fair, Mark stated that without multiple viewpoints, you are bound to lose out on new ideas and markets. One way to avoid this is to have diversity in your organization. For instance, you can hunt for business opportunities that involve the concept of mom-to-mom or dad-to-dad businesses.
Doing so would allow you to connect to a new customer base by catering to community-specific
requirements.
8. Invest in Intelligent Entrepreneurs
As per Barbara Corcoran, before investing, you must understand if the entrepreneur is intelligent enough. The word ‘intelligent’ does not imply that the entrepreneur should be ‘book smart.’ Instead, see if they are ‘street smart.’
This is because, based on her years of investment experience, Barbara has discovered that people who are quick on their feet and can size up a situation always win in the end.
So, as an investor, look for people with the right attitude who are willing to take risks and committed to finding solutions rather than contemplating failures.
Bottomline
The investment tips by the Shark Tank cast stated above can act as a stepping stone for entrepreneurs. From surrounding yourself with ethical entrepreneurs to investing in businesses you believe in, these insights can simplify your chances of long-lasting success.
References
1. Shark Tank’s Cast’s 11 Best Investing Tips | Vanity Fair, YouTube
Entrepreneur, auteur, raconteur. Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and Hot Dogs. A father of five who freelances in a variety of publications, Rob has a stable of websites including Shark Tank Blog, Hot Dog Stories, Rob Merlino.com and more.
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