This was one of the best Shark Tank episodes of all time. It had all the elements and emotions you might want…….great products, great entrepreneurs, and lots of investment offers from the Sharks. I’m awarding three Sharky Awards for entrepreneurial excellence.
Platinum Sharky Award…..Kevin and Tim from Better Life
These two have created all-natural cleaning products that work better than existing popular cleaning products. They gave a great demo and showed how clean their products get tile surfaces. I loved how they ended the demo…..by spraying their product into their mouths to show how safe the products are! Very compelling stuff.
More compelling is their revenue during the last 12 months….$2.1 million. They are on track for $3 million this year.
This led to a frenetic bidding war. Each of the Sharks made an offer or partnered with a fellow Shark. Kevin and Tim stated at the outset that they were looking for a strategic partner…..not just a financial investor. They ended up going with Lori Greiner who will get them on QVC and in Bed, Bath, and Beyond. Great choice. Lori pointed out she has made more millionaires of Shark Tank contestants over the past year than any other Shark ever has.
Gold Sharky Award……Solomon from 180 Cup
Solomon created cups that are ideal for college parties. You can easily drink a shot and a beer from the same cup by turning it over. He ended up getting an investment from Daymond, but he almost blew it. He turned down Daymond’s first offer and it ended up costing him an additional 5% equity for the same $300K offer when the other Sharks dropped out.
Solomon never went to college. He’s proof that anyone with the desire to succeed can become a successful entrepreneur through creativity and hard work.
Silver Sharky Award………John from Tree T-Pee
First, I think John has a great product. It reduces water consumption for trees grown on farms. JP, “The New Shark”, invested $150K for 20%……just what John asked for. To expand his business outside of Florida, perhaps into California, John may have to make his T-Pee’s out of a bio-degradable material instead of plastic.
Second, am I the only person who occasionally cries watching Shark Tank? John’s memory of his Father, who died 12 years ago, was very emotional. He was a great man who taught John “everything he knows” and came from nothing. Very sweet moment.
Shark Chum Award…….Jason from Kymera Body Board had put $130K of his own money into his business over the last 10 years and has never gotten past the prototype phase. He was labeled a “wantrepreneur” by Mark Cuban. He was also “nominated” by Daymond for the worst pitch of Season 5.