Real World Business Lessons From Reality TV
Beyond The Shark Tank
What happens after Shark Tank appearances is the premise
of the show. And the last program of the season featured
the progress…or lack thereof
of several presenters:
A music teacher for more than 30 years,
his pursuit of the education market makes sense.
But so did Robert’s concern.
Contracts or pilot programs that get
the green light may
also risk being caught
in political change and defunded.
This company celebrated their Shark Tank deal with a party
described by billionaire Barbara Cochrane as the most extravagant she’s ever seen.
Lavish Spending + Startup = Red flag.
A startup entrepreneur has to have the mindset of a
Mr. Money Moustache,
or some such.
Based on the episode, it seems the partner who left the venture
after the Shark Tank appearance, may have possessed
skills needed to execute the idea successfully.
A product inspired by a dream.
Unfortunately, a less than dreamy name combo.
And one that would make it harder to compete in the marketplace.
Bantam means mini or rooster.
Customers surveyed, did not know what the word meant.
Still the founders loved the name and resisted the idea of changing it.
Yet the word Bantam does not pair with bagel to grab attention
or communicate edible innovation like
food entrepreneurs in other product areas do.
For example, consider Bite Me Cheesecake.
Would many customers whip out dictionaries or Google the word
to figure out what Bantam meant? Does the word male you want to buy a bagel?
Dee Adams is the author of
Finding Your Niche: Discover…
Beyond the Tank/
Shark Tank Success.
Mr. Money Moustache.com