Entrepreneurs who are planning on seeking funding for their business should be studying past episodes of Shark Tank online. There will be a new season coming up, but until then the earlier episodes offer insight into what kind of questions that investors will ask, and quite frankly how they can act.
Shark Tank, the show features a panel of 5 Entrepreneurs who turn Angel Investors to help start-up companies go to the next level. Each Shark Tank Investor has a unique personality and investment strategy, showcasing how much emotion and personal taste comes into making a deal.
Each Shark Tank Investor puts up their own money to get in on a deal. While they may shake hands on the show, they still go back and study the deal, doing due diligence before they actually put their money in on a deal. Quite frankly, that’s the way it works in any deal with a sophisticated investor.
Shark Tank Investors
Sometimes the Shark Tank Investors will insult the Entrepreneur. That’s common in negotiations in any negotiation for a start-up company. Emotions run high, and you have to be able to take the heat when doing a deal. If you can’t, you might find that the investor will bow out because they are looking for tough people.
The smart Entrepreneur knows how to take the pressure and turn the deal around, showing the investor that they are creative and capable of making a deal work.
That’s been nowhere more clear when Kevin O’leary called Pure Ayre Entrepreneur James Mitchell a cockroach. Mitchell couldn’t handle it and ultimately let personal pride get in the way of making a great deal.
Ultimately, you have to be ready for anything that investors are going to throw at you, and Shark Tank is a great place to learn what’s coming. Watch the episodes and get ready to make a great deal.
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