After every Shark Tank episode I give Sharky Awards to the entrepreneur(s) that gave the best presentations.
Recent Season 4 Sharky Winners………The Inventioneers from Londonderry,NH
This week’s winners are……
Platinum Sharky Award……..Colin from RootSuit
This Mechanical Engineer from Yale created body (and head) suits that I can only describe as similar to the Spiderman costume. He has annual sales of $525K with profits of $140K. Colin hesitated when Shark Daymond made him a lowball offer. Daymond considered this a red flag and withdrew his offer….(Hey Daymond, ME’s can be analytical and deliberate!). Just as well.
Colin never got another offer but, as Mark Cuban put it, “Some companies are better off being owned by the entrepreneur”. Colin has built a very nice business and will make a lot of money without outside investors.
Gold Sharky Award……..Rusty from GOBIE H2O
I must admit, I had to think twice before giving Rusty a Sharky after the Sharks described his presentation as a “horrible sales pitch” and a “convoluted presentation”, but he did manage to land a $300K investment for his very cool water bottle. Daymond’s contingency is that he must get his $30 water bottle into at least one big box store. Daymond does trust his gut (and I think it’s a good one) and makes more emotional decisions than the other Sharks. This was one of those cases. We’ll stay tuned.
Shark Chum Awards…….Jason & Taylor from Liddup actually got a patent on a cooler with lights inside. They had no sales and no clue how to value their company. When asked why they picked a million dollar valuation they defended it by saying, “we had to start somewhere”.
I really liked Dave from Echo Valley Meats….He knew the meat business, he’s a nice guy, and a straight shooter. The Sharks wanted to hear his Marketing Plan but never did. Unfortunately Meat is not one of the four M’s needed to run a successful business (Mindset, Marketing, Money, and Management are the four). Dave needs a good ecommerce oriented Marketing partner to grow his business.