As we know, being an entrepreneur isn’t easy. But, we can succeed with proper planning. Today, we consider profiting from Shark Tank. An appearance may lead to smash results.
First, look at these earlier posts:
- Can You Afford to Become an Entrepreneur?
- Skills That Entrepreneurs Need
- What Generation Has the Best Future in Entrepreneurship?
- Can YOU Cut It as An Entrepreneur?
- Clever Innovations from Entrepreneurs: A Video
Success as an Entrepreneur: Profiting from Shark Tank
Shark Tank has become a big hit. With many profiting from it.
“When it comes to appearing on Shark Tank, sometimes the risk of failing to get a deal; of being sneered at by Mr. Wonderful in front of millions of viewers is worth it. Going on ABC’s hit show, which started its 10th season on October 7, doesn’t guarantee a deal with a celebrity investor. But it almost always guarantees a revenue bump.”
After nine seasons, Shark Tank has touched hundreds of companies in industries from food to toilet gadgets. And Inc. set out to quantify the Shark Tank bump. This exclusive analysis uses historical revenue data from more than 250 companies appearing on the show — starting from the year the startup was launched to projections for 2018. Regardless of whether a deal was accepted, a company has been profitable, or the founding structure of a company has changed since it appeared on the show. In most cases, a company’s revenue increased the year after it appeared on Shark Tank, occasionally doubling or tripling — and, in some cases, doing even better than that.”
“Many entrepreneurs walk out of the Tank without a handshake agreement,. Or see deals fall through after the due diligence process. And they still experience large increases in revenue. To cite one example, a women’s dress retail business walked out of the Tank empty-handed. And still saw an 800 percent increase in revenue the year after.”
“And not all Shark Tank bumps last. Some companies reported seeing huge growth spikes after being on the show. Then watched them contract just as quickly. One retail business, saw a 1,400 percent increase in revenue the year after it appeared. It dropped 600 percent the following year.”