Reality TV & Budding Entrepreneurs
Myths & Lessons
Popular, competitive industries and related concepts provide inspiration for top TV cable shows. The food industry, for example, has provided a rich source of ideas. Here are a few examples:
Each week, an episode showcases how a hopeful entrepreneur bought a restaurant, yet failed to learn, beforehand, how to operate it successfully.
It’s not a program for viewers with weak stomachs. Many beginners are using their life savings or retirement funds, mortgaging their homes, or borrowing from family members to start a business they know little or absolutely nothing about managing.
Budding restaurateurs seem to think running an eatery is easy, or they’ll learn the ropes after they open for business.
Two expensive myths that result in a high failure rate in the competitive industry.
The Great Food Truck Race
The mobile restaurant program illustrates how many things can go wrong while trying to sell food on the street; from a flat tire to faulty gas burners.
It’s a seemingly simple, low-cost way to enter the restaurant business that is anything but simple.
Each show features common, odd, and interesting food ingredients from around the world. Chefs compete against each other to dream up and prepare a winning appetizer, main course, or dessert within 20-30 minutes after opening a mystery basket of ingredients.
There is a catch; of course… Each basket contains weird food combinations. For instance, one show featured a dessert round with red jalapenos, cream cheese, Sharonfruit, and short bread.
An environment in which participants have to think, create, and produce results rapidly in order to succeed.
Struggling business owners and budding entrepreneurs agree to become chum in the venture capital shark tank in return for possible financing, contacts and mentoring. Shark Tank has been on the air for several seasons, yet some hopefuls still appear on the program ill-equipped to present their proposal with financial numbers that will be attractive to the sharks.
Common myth: I don’t need to understand the financial aspects of the business because my idea is great!
The Fashion Industry
For some with a passion for fashion design, the glamour, glitz, and high-level creativity can create a hellish nightmare if one is ill-equipped to handle the stress and strain of the industry.
Despite a high degree of talent, some designers flee the demands of the industry (on and off the show).
Although there is a degree of hype in some of these programs, it’s a useful inside look at situations in specific industries.
Note: If you are seeking insider information on other industries, such as farming or plumbing, I suspect those shows are not on the fall TV schedule.