Shark Tank's Kevin O'Leary, chairman of O'Leary Ventures is always spilling the beans on his social media. This multi-millionaire investor always posts reels on his Instagram (@kevinolearytv), introducing new entrepreneurs to business hidden secrets.
Among all the other sharks on the show, O'Leary is hard to please. He once revealed that the first 90 seconds of any pitch can make or break the deal for him.
Kevin O'Leary reveals the "secret sauce" of Shark Tank
Recently, Kevin O'Leary posted a clip from one of his talks where he revealed the "secret sauce" of the show. In this video, he talks about how businesses usually fail,
"The real secret sauce of Shark Tank and why it works year in year out is the number one reason companies go out of business in America is they can never get their customer acquisition costs below the lifetime value. A fancy way of saying they advertise themselves into bankruptcy. They can't acquire customers."
He further talks about how it is important to get a deal on the show rather than just being in the show,
"Now with the show, you get a hundred million eyeballs through syndication. So if you even have a mediocre product you're kicking it when you're on Shark Tank but you've got to get a deal. Everybody thinks they can come on and not close a deal. Then you don't get updates. You don't get the benefit long-term. You never show up again. And I think that's kind of what people have figured out about it. If they can get on the show and get into syndication they're going to be out there forever."
The caption of the reel explains this further,
"The secret to Shark Tank’s unstoppable success is more than great ideas. It’s about crushing customer acquisition costs. Every year, entrepreneurs step into the Tank, not just for funding, but for the golden ticket: 100 million syndication views. That’s a customer acquisition jackpot. But here’s the catch—no deal, no updates, no long-term benefits. Shark Tank isn’t just a pitch; it’s a launchpad to immortality in business."
After being one of the very first sharks on the show, Kevin has seen all kinds of products, pitches, and entrepreneurs. Any advice coming from him is nothing less than 'golden words' for the newcomers in the industry.
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You can watch Shark Tank on ABC Network.
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