“I start work right away in the morning. I love the challenge of being an Entrepreneur. I have freedom & resources of doing what-ever I want to do when I want to do it.” Lori Greiner, most successful Shark with 6 of 9 top Products.
Finding Funding Topics: Who are the Sharks? Social Responsibility, What’s changed in 10 years? Top 20 products.
Finding Funding thru Shark Tank, “ABC’s Reality series that invites budding entrepreneurs to pitch products to investor “Sharks,” celebrates its 10th season & 200th episode – with Sunday’s season premiere (10 EDT/PDT; moves to 9 on Oct. 14). Would you believe Shark Tank has featured > 1000 Entrepreneurs and brokered deals totaling $125 million in Investors’ cash.
Who are the Sharks?
Barbara Corcoran, (NYC Real Estate Queen, Consultant, syndicated Columnist, Author, & TV personality)
Robert Herjavec (Croatian-born Canadian businessman, Angel Investor)
Kevin O’Leary (Irish Canadian businessman, Author & co-founder O’Leary Funds & SoftKey.
Daymond John (American businessman, Investor, Author, & motivational speaker)
Mark Cuban (American businessman & Investor, owner of NBA’s Dallas Mavericks, co-owner of 2929 Entertainment & Chairman of AXS TV)
Lori Greiner (American prolific Inventor, (600 products) Angel Investor, Product development & marketing + Queen of QVC).
Why does Shark Tank work? It seeks a wide variety of products and favors those with a unique twist. Producers look for products at different points in their life cycles, from the awakening of an idea to demonstrated sales. But “a huge element” is the entrepreneur: “Do they have passion? The person who has that fight and a great back-story,” often including setbacks and failure, is key.
Social Responsibility. Mark Cuban, whose top-selling product is a stand-up Paddle board, says newer investors recognize the value of technology and the changing retail climate. “Many of our great companies also have a social component that allows consumers to be proud to do business with them,” he says of the Sharks via Email.
Bombas, a sock seller that donates a pair to the homeless for every one it sells, and Sand Cloud, which makes blankets and donates a portion of proceeds to save marine life. “It’s a millennial mentality,” says Greiner, who has 6 of the top 10 “Shark Tank” products and benefits from her platform on QVC [TV Shopping channel] & Infomercials. “If you’re lucky enough to be successful, you have a responsibility to give back.”
When? But Corcoran says that while it makes for good TV, giving should come after success, not be used as a marketing ploy to achieve it: “I personally don’t like commingling funds for profits and charity,” she says. “It’s disingenuous.”
What’s changed in 10 years? Contestants now tend to be more educated and “less needy,” Corcoran says. Often, new entrepreneurs have already acquired Investments through Venture-Capital [VC] firms or Crowd-Funding efforts. But she admires “the extreme measures” people go through just to stay in business. “I love the desperation,” she says, not to watch them suffer, but to demonstrate that their spot on the show is “well won.”
The top 20 Products in the history of “Shark Tank,” including the air date of the episode on which they first appeared, the Shark’s initial investment, % ownership stake in the company, and retail sales figures supplied by the Sharks.
1. Scrub Daddy [Kitchen Sponge] Shark: Lori Greiner, Sales: $170 million
2. Simply Fit Board (curved Exercise board) Shark: Lori Greiner Sales: $152 million
3. Squatty Potty [Foot rest for Toilets] Shark: Lori Greiner, Sales: $140 million
4. Tipsy Elves (“Ugly” Christmas Sweaters) Shark: Robert Herjavec Sales: $100 m
5. Bombas (idiotic Socks) Shark: Daymond John, Sales: $78 million
6. Sleep Styler [Hairstyling accessories] Shark: Lori Greiner Sales: $56 million
7. Cousins Maine Lobster (Seafood trucks) Shark: Barbara Corcoran
Sales: $50 million
8. FiberFix [Repair tape] Shark: Lori Greiner Sales: $50 million
9. Bantam Bagels [Puffs] Shark: Lori Greiner Sales: $40 million
10. Grace & Lace [Leg Warmers] Shark: Barbara Corcoran, Sales: $36 million
11. Tower Paddle Boards (Stand-up PBs) Shark: Mark Cuban Sales: $33 million
12. The Original Comfy [Blanket/Sweatshirt] Shark: Barb Corcoran Sales: $25 m
13. Sun-Staches [Novelty Sunglasses] Shark: Daymond John Sales: $24 million
14. Sand Cloud [Blankets] Shark: Robert Herjavec Sales: $20 million
15. Wicked Good Cupcakes Shark: Kevin O’Leary Sales: $20 million
16. Bottle Breacher [Bottle openers] Shark: Kevin O’Leary Sales: $17 million
17. PRX Performance (Compact Fitness Equip) Shark: Kevin O’Leary Sales: $15 m
18. Illumibowl [Toilet-bowl light] Shark: Kevin O’Leary Sales: $11 million
19. Prep Expert [Test Prep Service] Shark: Mark Cuban Sales: $10 million
20. Simple Sugars (Cleansing Scrub Shark: Mark Cuban Sales: $10 million
Comments: What have you liked & dis-liked about Shark Tank?
from USA Today 10/15/18 enhanced by Peter/CXO Wiz4.biz
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See complete article on USA Today – Shark Tank.