New entrepreneurs are always bootstrapped for capital even though they have a viable product. Lack of funds is a real problem that all new business owners face without an exception. In many cases, people who have resources and money, often fund such business ideas, as a worthy investment opportunity. However, all businesses come with their fair share of risk. Compounding the woes of startup entrepreneurs is the fact that it is almost impossible to predict the future of their product. Therefore, it takes a good amount of negotiation on the part of an entrepreneur to sell the idea to these investors. These interesting negotiations are what form the premise of the show, Shark Tank.
The show allows participants to make their business presentation and chat with the investors for about an hour. However, to increase the entertainment value, it is compressed to 10 minutes. What the audiences see are only the power packed highlights.
There are generally five judges on the panel and many have been rotated or changed over the years. Initially the show had Barbara Corcoran, Robert Harjevac, Daymond John, Kevin O’Leary and Kevin Harrington on the judging panel. Mark Cuban and Lori Greiner appeared as guest judges for the second and the third reason respectively. Both of them later became permanent fixtures on the show. However, Kevin Harrington left after the second season. Each of the panelists deal with the contestants in their own personal style. Over the seasons, Jeff Foxworthy, John Paul DeJoria, Steve Tisch and Nick Woodman have also appeared as guest judges on the show.
The investors are paid to be part of the series, however, they invest their own money when they choose a business on the show. It is also interesting to watch the bidding process where everyone is interested in investing. In this case, the tables turn and now it is in the hands of the contestants to pick the offer that suits them the best. Take one of the show’s success stories, Scrub Daddy for instance. Initially, it required a lot of convincing by Aaron Kraus, the proprietor, to get the judges on board with his idea of a cleaning product. However, once the bidding started, it was war. Lori Greiner finally took the cake by offering $200,000 for 20% of the stake in Aaron’s company. As art of the deal she was to share her expertise and connections to take the product forward.
Thousands of entrepreneurs apply each season to get a chance to present their business ideas. The show has experienced a deluge of applications from entrepreneurs all over the country. Clearly, these business owners understand the win-win situation the show offers. In the scenario where the proposal resonates with the investor the contestant can get his business funded. However, if the entrepreneurs are not able to impress the judges, they and their idea get a lot of exposure and publicity. It is good for business and opens new doors for future opportunities.
The animated discussions between the judges and the contestants, the euphoria and the tears have given this show an impressive viewership of 6 million per episode. This makes it one of the most watched shows in the Friday Night slot. Over the six seasons, the show has seen a gradual increase in its viewership. The latest season wrapped up on May 15, 2015 and the next season is expected to come out in September 2015. Hop over to this web page for more awesome entertainment.