Good show! Could be the next Apprentice given some time and a few minor changes.
This blog will review each episode from the Entrepreneur’s point view and announce the winners of this week’s “Sharky Awards”. At the end of the season, a season ending award ceremony will be conducted.
Platinum Sharky…..Nikki from Toygaroo.
This is a great example of creating a business where a)the founder has first hand knowledge of the market and b)they copied a very successful Business Model (Netflix) and adapted it for use in their area of expertise/passion and c)they did a “soft launch” or proof of concept pilot to provide some history and comfort to the potential investors.
Note: Did you like the way Robert got thrown under the bus?
Gold Sharky…..Joe Moore from First Defense
It was an actual customer order for $8 million that got the Investors so interested in this. Investors are always trying to minimize their risk and Joe delivered the goods. Frankly, I think Joe gave away too much by agreeing to a 10% royalty in perpetuity. That’s a long time and could be a lot of money.
Note: Mark said to the other sharks, “We can change our deal once we get him in.” Beware Entrepreneurs!.
Silver Sharky…….Brian Spencer from Vurtego.
Hang in there Brian, I think ultimately you may have the best, biggest business of the bunch even without 3rd Party Investors. You did get some good advice. I like to say you should “double your price and keep half your customers”. This will help you be cool, stay cool, and make a lot of money. Think about hiring a CEO so you can remain the creative force and “cool guy”.
Shark Chum…Matty at Waken Bacon.
Matty…Seriously? Need to understand your market, costs, and risks next time.
Good line: When Mark told him he should have been asking for $170K, not $4oK…..”I am now asking for $170,000″. Funny.