Shark Tank pitches are engaging and what an entrepreneur pitches before the investors can make or break a deal for them. To make any investor interested in a product, it is important to have a well-formulated pitch with relevant stats and a well-rounded introduction to the company, its product, and its founders.
Over the past few years, investors of the show have been presented with all types of pitches, the good, the bad, and even the worst ones.
This time the experts finally took it into their own hands and decided to share a few dos and don'ts guide for the business owners planning to get on the show. For example, the sharks urged entrepreneurs to know their company's numbers. Additionally, each entrepreneur should be able to explain their pitches within 90 seconds.
So if someone is planning to shake hands with the sharks, read further to know what to and what not to say.
Shark Tank investors share the do's and don'ts of a pitch
In a recent reel uploaded on the official account of the newest shark, Daniel Lubetzky (@daniellubetzky) on Dec 17, along with the OG sharks Kevin O'Leary and Barbara Corcoran shared a few tips around Shark Tank pitches.
Each expert shared tips from their experience on the show. The clip began with Kevin O'Leary sharing one of the Do's where he talks about how important it is to make sure entrepreneurs grab everybody's attention in the first 90 seconds of the pitch.
"One do is to make sure you articulate the opportunity in 90 seconds or less."
He further shared "a don't" which is to not come on the show without knowing the stats of their business and industry.
"One don't is to come here without knowing the numbers. I will send you to hell."
Continuing the list, Daniel Lubertzky talked about the importance of being authentic and not hiding things about a business- good or bad in a Shark Tank pitch.
"Do - be authentic, don't hide important stuff"
Adding to the list, Barbara Corcoran shares how apart from knowing the numbers, why it is important to talk less, dress right, and sell the dream instead of the product from her experience on Shark Tank.
"So wonderful example, don't talk too much, puts all the sharks to sleep right away and secondly, look the part. We see a lot of people who don't even look like they are in the business area and I'm out right away. I'm gonna sleep in my chair. Well, I should be saying know your numbers but sell me on you, sell me on your dream. Let me fall for it and taste it, feel it if I wanna come along."
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Shark Tank investors share a few dos and don'ts of a pitch on the show for the entrepreneurs. Make sure to check them out if you're planning to be on the show next.
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