Entrepreneur loses investment in Shark Tank; avoid this mistake

  • The study “375 Startupers – Portraits, trends and paroles of startups” reveals the reasons why startups are undertaken.

  • The lack of knowledge of the investor you are trying to win over in a Pitch results in poor capital attraction.

  • Shark Tank is one of the most followed programs in the world in terms of entrepreneurship.

The entrepreneur has in a Pitch the opportunity to demonstrate the qualities of your brand or service to a potential investor, which forces not only to know your product in depth, but also to your investor, so it is important that you identify how to prepare to avoid a mistake that it costs you an investment to your enterprise during a pitch, especially if you are in Shark Tank.

Inside of the study “375 Startupers – Portraits, trends and paroles of startups” the reason for which it is undertaken was revealed and it was revealed how important the idea of ​​a business is for this economic segment.

To have challenges to face, 71.9 percent do; in order to change the rules, 55.6 percent do so; 40 percent said they do it to be independent, while 38 percent said they do it to create their own job and just 3 percent said they do it to become famous.

The ideas behind the venture are clear, what is missing is knowing how to make a good pitch, as the participants of shark tank, Donovan and Trey Brownimmediately losing the support of one of the sharks in the Pitch they were carrying out.

The pair of young people had come to present Ride FRSHa brand of air fresheners for cars, however, when they delivered the product to investors in their pitch, so that they knew it, they delivered with the logo of the Golden State Warriorsan error that cost them the investment of Mark Cuban, owner of the dallas mavericks of the nbateam with which they compete.

Due to the error, Cuban himself called it “the stupidest marketing move in history.”

Investors often reject startups due to sloppy launches or unprofitable business models.

During the transmission of Shark Tank of abc friday the billionaire Mark Cuban he had less than two minutes to call off the deal for a different reason: “The stupidest marketing move ever.” Brothers Donovan and Trey Brown and co-founder Trey Brown said the car air freshener Ride FRSHbased in Los Angeles, was poised to generate more than $750,000 in annual revenue at the time of the shooting of FRSH.

Since I had reminded him, the pitchdefeat of the Mavericks before the warriors in playoffs of the nba at the beginning of this 2022.

Despite Cuban’s denial, Ride FRSH, which would have generated income of just over a million dollars three years after its launch, stood out for being a subscription-based business model and they were, at the time of recording the program, in talks to close sales for just over two million dollars with retail stores like AutoZone, so they were in the program for an investor to buy five percent of their company for $200,000. Finally they achieved an investment of 200 thousand dollars for 25 percent of the company Barbara Corcoran.

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