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  • Writer's pictureAmi Kassar

AmiSight 5/30: Will You Sink or Swim in the Shark Tank?

I spoke with an entrepreneur last week whose company's cash flow is positive and growing. He let me in on his newest growth strategy—preparing to go onto Shark Tank.

 

This came as a surprise to me, and I let him know. "What are the Sharks going to do for you?" I asked.

 

"Mentorship,"  he replied.

 

We've had several experiences working with companies after they have been featured on Shark Tank and taken the "deal." Unfortunately, the pattern is clear: the founders have been left at the Alter in terms of mentorship.

 

But that doesn't mean that Shark Tank comes without its positives, and I can see two strong reasons to go on the show.

  1. Brand exposure

  2. Raising debt and equity when more traditional methods fail

 

Think about it this way, your business is your baby. If you don't meet one of these scenarios, consider how important your company is to you and whether you'd ever want to "share" your child with another “parent” who might not stick around for the important stuff.


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