The most important part of the playing field in “Shark Tank”

The most important part of the playing field in "Shark Tank"

According to investor Kevin O’Leary, there is a common thread among the successful shows on “Shark Tank” on ABC.

“The most important part of the playing field in the tank, the conference room, or the zoom is to get the room’s attention,” he wrote on Twitter on Friday.

For example, O’Leary referred to businessman Achim Shannon, who captured the attention of all the sharks on Friday’s episode of the show by starting his rapping show about his product, a phone accessory called Flipstik.

“It’s a kickstand on demand,” Shannon commented on Flipstik, a reusable adhesive made to attach cell phones to other surfaces for hands-free use. “Sharks, give baby a chance. I will have ROI.” [return on investment] On one hundred thousand dollars. “

After rap music, Shannon asked Sharks to invest $ 100,000 in exchange for 20% of his company’s shares. Although he hasn’t even revealed details of his business yet, he has already captivated all of the investors.

O’Leary tweeted “Way to Go Flipstik.”

Mark Coban and Diamond John loved Shannon’s show and described it as “the best rap music we’ve seen” on the show. “It’s a great way to get into the tank,” Barbara Corcoran said on Twitter on Friday.

“His energy is infectious! The best salespeople are always high-energy,” she added.

Thanks to his rap and tune, Shannon received offers that he might not have otherwise had, because his company didn’t make much sales: In about two and a half years, Flipstik made $ 115,000, Shannon told Sharks.

“Your sales are bad,” Cuban said. “You know $ 115,000 [in two and a half years] Appalling. “

See also  Apple: The Epic Games court process is an "attack" on a secure system

Since most Flipstik’s sales have been through brick and mortar retail, Shannon said the Covid-19 pandemic has devastated growth, and he has attended the show to get help selling directly to consumers.

Shannon received offers from O’Leary and Lori Greiner, admiring Shannon as a person.

O’Leary offered $ 100,000 for 20%, which was what Shannon requested, and Greiner offered $ 100,000 for 25%. Cobain was about to make an offer, but Shannon accepted Greener instead.

Rap Shannon did the trick, because in the perfect pitch, “You have to explain exactly what the job is in under 90 seconds,” O’Leary previously told CNBC Make It. “If you can’t do that, you’ll never succeed.”

Disclosure: CNBC owns the cable rights outside the exclusive “Shark Tank” network.

do not miss: Best Black Friday and Cyber ​​Monday Shopping Credit Cards 2020

paying off:

Leave a Reply

Your email address will not be published.