My wife Bethany has been binge-watching Shark Tank lately, and I fess up I have been getting in on the action.
Here is my beef with the show: where are the debt options !!! When entrepreneurs are looking for money, there are choices between debt and equity in most instances. Each option has its pros and cons: debt has to be paid back and often comes with a personal guarantee. And when you take on the equity, you just got married or got married again.
Millions of viewers are watching Shark Tank, and the show teaches them that equity is the only option. This is a mistake. I would love to see an entrepreneur on the show struggle with a decision between selling a percentage of their business forever or taking an SBA loan and putting a lien on their house. Decisions like this are not reality TV.