Shark Tank episode aired May 11, 2017

The last episode of Season 8 featured two guys in space suits who used a microwave oven to erase handwritten graphics in a notebook, a married couple who brought a nude male model into the Tank with them, and a lady who pulled up her dress and sat on a toilet. It was hysterical! This episode provided some great TV.

But the winner of the Sharky Award for entrepreneurial excellence was Heather from Bridal Buddy. She got a relatively small deal for her “bridal slip” that allows brides to “take a pee”without assistance from a bridesmaid. It may have been a small deal, but Heather embodies many of the qualities of successful entrepreneurs.

Sharky Award

Sharky-Bridal Buddy

Heather had the idea for the Bridal Buddy over a decade ago but then “life got in the way” and she had to put in on the shelf while she had two kids, went through a divorce, and moved to a different place. She had dealt with some negative people and has learned that to succeed, you need to surround yourself with positive, encouraging people.

Her product was ingenious, but her friend Marissa (her “model”/ salesperson who demonstrated how the Bridal Buddy works) was even more impressive. She told the Sharks that Heather was an amazing person who has overcome many significant obstacles. She was instrumental in getting Heather a deal with Shark Lori and Mr. Wonderful ($75K for 30%).

Shark Lori Greiner told the story of how she has used people’s negativity to motivate her to succeed. “It created a fire inside of me to prove them wrong”, she said. Lori’s other great quote was, “Look back to learn. Look forward to succeed”.

I too felt the same negativity during my entrepreneurial journey. Some people weren’t supportive and took “a wait and see attitude”. But my main source of motivation came from my father, who was full of negativity and seemed to want me to fail. That lit a fire inside of me that burned for over 25 years as our company grew from 1 employee to 40 employees. I refused to let him see me fail. Alas, I lost that fire after he passed away and we then sold our internet software company a year later. I guess I should have thanked him.

Best of the Rest………Harriet and Patrick from Wine & Design have successfully franchised  their concept of combining art classes with drinking wine. They brought out a nude male model to simulate a bachelorette party with the Sharks. Harriet and Patrick knew their numbers, and have built a successful company that has sold 74 franchises. They receive a royalty of 6% on all sales. They got a deal with Mr. Wonderful (the “wine guru”) that included some equity and a Line of Credit.

I swear I thought Jake and Joe from Rocket Book were very entertaining con men. Their product was a system that included the ability to create and file an electronic document (which can be done by any of today’s smart phones) and then erased by putting a special $27 spiral notebook and a cup of water in a microwave oven. This is perhaps the worst value proposition in the history of computing. I thought the only potential customer for this product would be a magician. Very entertaining, but no deal.

Adam and Derek from Laid Brand have created a hair care product containing pheromones which make hair smell good. They had done a three-month test and sold $27K worth followed by none thereafter. It wasn’t clear why they stopped, but zero sales is a real turn-off to any potential investor. There’s way too much competition in this market to back a company with no sales.

                     OVERALL RATING OF THIS EPISODE………………..B  

                          (A for entertainment value and C for content) 

 

 

 

 

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About Shark Tank Ratings

Author of "Unlocking Your Entrpreneurial Potential: Marketing, Money, and Management Strategies for the Self-Funded Entrepreneur"
This entry was posted in barbara corcoran, Entrepreneur, Kevin O'Leary, Lori Greiner, Mark Cuban, Mr. Wonderful, Robert Herjavec, Shark Tank, Sharky Award, start-up, Tim McEneny and tagged , , , , , , , . Bookmark the permalink.

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