Shark Tank is American reality show where aspiring entrepreneurs from around the world pitch their business models to a panel of investors and persuade them to invest money in their idea. Investor is known as Shark here. Here are some of best quotes from Sharks that we must adhere ,
- Follow the green not the dream : Mark Cuban : If your idea / business is profitable by following 1 strategy then you have to stick with it dont lose your focus to start or infuse another strategy. For example in one of the Shark Tank pitches that business was profitable with food trucks strategy but the owners want to have brick and mortar stores as it was there dream to start with it.
- 3C defficiency : Cash , Credit , Customer : Daymond John : Your Business / product should not be having these Cash , Credit and Customers defficiencies . (3C Defficiency)
- It’s good to own 10 % of watermelon than 100% of Apple : Mark Cuban : On asking for investment and you really feel that investor will add tremendous value then you have to lose more equity .
- What time is selling time , it’ always a selling time : Robert Herjavec : Some enterpreneurs complains due to lack of time , resources available or wrong season these reasons they complain due to less sales /download / of their product.
- If your Business / Idea is not profitable or not providing ROI then its a hobby : Kevin O’ Leary : Kevin has a litmus test of startup or business if its not generating any revenue after 3 years then you should decide whether you need to hit refresh . ( Change strategy , target audience or redefin roadmap / vision.)
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