Did Mona Weiss really tell Robert Herjavec “You better be working 16 Hours a Day” right after he offered them $175,000 for fifty percent of Eco Nuts? Yes, she did…
Talk about a blunder, but that wasn’t the first. Mona’s business partner and fiance, Scott Weiss started the pitch, telling the Sharks how great the Eco Nuts company is performing. He said they sold $250,000 last year and controlled 90% of the market.
Regular Shark Tank viewers would see the writing on the wall, Kevin O’Leary would be out. A million dollar evaluation for a company that has cornered 90% of the market? I don’t think so and he didn’t either. Scott Weiss made a serious blunder, but didn’t kill the deal, Mona had that part covered.
Right after, Daymond John pointed out that Scott doesn’t know the numbers and for that reason he is out. Daymond hung on Scott making the assumption their company is number one. He was out.
This where Mona insults Robert after making his offer. She literally told him, “You better be working 16 hours a day like we are.” Mark Cuban rightly rolled his eyes after Mona demonstrated why most entrepreneurs blow investment opportunities.
You Better Be Working 16 Hours A Day
Robert’s reaction was not what I thought it was, he was clearly not pleased after telling her he works twenty-fours hours a day to have the privilege to listen to entrepreneurs like her.
Mona, is not alone, I have made similar mistakes while pitching investors.
Right after, Scott engaged in an argument with Mark Cuban about packaging that neglected to tell about their sterilization process.
Barbara goes out too, but not before she asked why they aren’t married yet. Kevin O’Leary jumped in and offered to marry them, he even begged them.
Both Mona and Scott left without money Eco Nuts should have had. In the end, they had a great attitude and presented themselves well in the post comments. They both screwed up, but it appears they didn’t need the money that badly.
Scott and Mona made the same mistakes that many passionate entrepreneurs make when talking to investors.
I think it needs to be pointed out that these shows are cut and edited to show the drama. That is what sells. Also they take things out of contest and put the comments with the questions they want them to go with. They took an hour of filming and only showed 8 min. of it. After 40 min of being slammed and the “sharks” being downright rude and mean someone throws out a retort of two and those are what they show. I don’t like this show for that reason. I have a business and I have people tell me I should do this, but I never would. I would not be able to hold my tongue while people thought they could diss me and my product just because they have money. I don’t need their money that badly. Also as a side note, the fact that they aren’t married is no one else’s business.
Hi Vilate,
Rob and I appreciate your thoughts regarding Mona and Scott’s pitch on Shark Tank Episode 406. Your passion resonated with me, so I took the time to visit your website. I see you ran into regulatory issues. As usual, we entrepreneurs are penalized by regulations the politicians put in place, supposedly for big business.
We hope you will keep sharing your thoughts on SharkTankBlog.com.
Kirk
Kirk, thank you for taking the time to visit my website and for replying to my comment. My sister has done shows like this with cake decorating and so I have some understanding of how they work. There is so much time put in by everyone involved and then with the time segments allotted they can’t use it all. I just think people need to take that into consideration.
As for the regulations, yes it is frustrating. It bothers me to hear all the politicians talk about how they want to support small businesses but those regulations made it so hard for me to keep going, to the point that I did not want to.
I really hope that eventually someone somewhere will REALLY want to help small businesses. That would be great for everyone.
Vilate