Monday, September 15, 2014

How to Get on Shark Tank

Shark Tank is the reality TV show for entrepreneurs. It has been the most watched TV program for the 18 to 29 year old demographic for Friday nights, garnering over 6 million viewers for each episode. If you can get on the show, even if none of the sharks invest with you, the free advertising you get for your startup is priceless. The sharks include Mark Cuban, Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O'Leary.

So what do you do to get ready for and get on the show? There are actually just a few simple steps, but each step can take some work.

Are Your Ready?

1. First, determine if you are ready. If a venture capitalist came to visit you right now, would you be able to make your presentation immediately? Do you have your business plan and pitch deck ready? Have you memorized it?

Getting Ready

2. Next, watch a couple shows and write down every question the sharks ask. Then have a co-worker or friend ask you every one of those questions. Standup when you respond. You may think that this step is putting the cart before the horse but it's not. Often, these shows want you to act quickly with the producers wanting to meet you within a couple days. You need to be ready way ahead of time.

No Confidentiality

3. Understand the lack of confidentiality with your proposal, and the terms of service. If you are concerned about someone stealing your idea, then maybe you should reconsider being on Shark Tank. The (Shark Tank, ABC, Disney) Terms of Service can be found at:  Terms of Service

How to Apply

3. Apply. There are actually two ways to apply; the first is to send in your proposal by email. Send your name, age, contact information, a recent photo, and a description of your business that will not remain confidential. You can email your proposal to: SharkTankCasting [ at ] yahoo {dot} com
More information about applying can be found here.

Open Calls

4. The other way to apply is through an Open Call. An Open Call is when an event is held in a certain city and you just show up to give your proposal without an appointment. To see a list of Shark Tank Open Calls, you can go to the following link:  Open Calls


5. If they contact you, respond immediately. If they want to meet you, drop everything and cancel everything to meet with the producers when they want to see you. 


6. If they decide they want you on the show, then practice, practice, practice and make sure you have all responses that you can answer with ease. (See step 2.)

At this point it's now in your hands. Best of luck!

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