Tuesday, March 12, 2024

Shark Tank?

 Has anyone seen the show "Shark Tank" on one of the business/financial news channels?   I watch a few shows weekly and I find it interesting and educational at the same time, regarding starting a business and how to take it to greater levels.   

If you're not familiar with Shark Tank, you have a panel of investors with some bankroll.  They listen to pitches from upstart entrepreneurs and if the pitch/product is appealing, one of the "sharks" might offer to invest in the upstart business for a equity share in the business, or some product royalties, or both.   Oftentimes the sharks get personally involved and help boots the business since they will have made a significant investment at times.  The show is quite intriguing and sometimes you see brilliant young entrepreneurs who know their business and sometimes, you see folks who completely miss the mark.  

The panel of sharks, if interested, will ask pointed questions about the upstart business including patents, sales, investment of personal assets into the business, revenue projections and other important related questions.  People who cannot answer questions or are not sure of what they are pitching often hear "I'm out" from one of the sharks, or investors.  Now all of these investors are seasoned and experienced business people with the know how and support staff to take your business to new levels.  This is displayed when they show updates on previous investments where s start up is now a multi million dollar business.  

That brings me to the relevant question.  How would an Amway IBO fare on Shark Tank?   How would even a diamond be able to answer relevant questions from the panel such as retail sales, cost to acquire customers, etc etc.  My guess would be that IBOs would be laughed out of the room when the talk about real non-IBO customers came up,   When you think about it, the Amway opportunity is all about recruiting your customers to become downline who you will also exploit with tools and functions.  I can't imagine any Amway IBO, diamond or not, would be able to gain any traction at all in the Shark Tank.  And that's because the Shark Tank panel will ask real business questions which cannot be obfuscated by answering a question with a question or by changing the subject when pressed.  I suppose this is why no Amway person has ever made an appearance on this show, as far as I know.  But even if they did, the outcome would be very predictable.  

But as a side note, if any IBOs are reading this article, Shark Tank is a great place to learn about real business.  I would highly recommend it.  LOL



  


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