BEST ADVICE FROM THE STARS OF SHARK TANK
IT TAKES GUTS TO PITCH YOUR SMALL BUSINESS TO THE RUTHLESS ENTREPRENEURS ON ABC’S SHARK TANK, LET ALONE PERSUADE ONE OF THEM TO INVEST IN YOUR COMPANY.
That’s because landing an investment deal with a Shark is a pretty big deal, often leading to exponential growth and unprecedented profits. Because, if there’s one thing a Shark is interested in, it’s profits. But even when a deal isn’t made, there’s still value in the experience. What would you give for the feedback of some of the most successful entrepreneurs on the planet? But you don’t have to pitch the Sharks just to get some great advice. That’s why we’ve created a list of the top 5 quotes from each of the 6 mega-successful investors from Shark Tank.
Kevin O’Leary, or “Mr. Wonderful”, as he’s lovingly referred to on the hit show Shark Tank, is a seasoned investor and entrepreneur that doesn’t mince words when it comes to considering investments with the contestants. But his sometimes harsh criticism, comes from a place of experience. O’Leary’s business success began with a big idea and very little cash. Launching his first company, SoftKey, from his basement, the companies sales took off. He then began buying up all of his competitors, gaining him a reputation amongst shareholders as a take-no-prisoners, cost-cutting CEO. He brings that same ruthless personality and business perspective to the Tank, ultimately offering incredible insight to contestants– although not always in the tone they would prefer.
Here are his top 5 quotes that every entrepreneur can learn from:
- “The road to riches is never straight and narrow. It can be riddled with financial land mines.” — Kevin O’Leary
- “Nobody has a monopoly on good ideas.” — Kevin O’Leary
- “My partners … taught me that in order to create wealth, I needed to pair up with people whose strengths compensated for my weaknesses.” — Kevin O’Leary
- “It pains me to see good entrepreneurs chase bad opportunities.” –Kevin O’Leary
- “Here’s how I think of my money: As soldiers. I send them out to war everyday. I want them to take prisoners and come home, so there’s more of them.” — Kevin O’Leary
Robert Herjavec is one of America’s most recognizable business leaders and investors. Founder of BRAK systems, he was able to grow the small technology company into one worth a reported $100 million dollars. But it wasn’t an easy ride for Herjavec, in fact, nowhere has the classic “rags to riches” story been better exampled than in the life of Robert Herjavec. The son of Croatian immigrants, Herjavec realized early on that he was going to have to be a self made man. Through hard work and ambition, he was able to overcome the odds stacked against him and achieve incredible wealth. Today, he leads The Herjavec Group, an IT security and infrastructure integration firm– while maintaining a strong presence as one of the most accomplished Sharks, bringing unprecedented value to the startups he partners with.
Take heed of this multi-millionaire’s advice if you’re writing your own rags-to-riches life story:
- “Don’t ever be enamored by what something sells for. It’s more important what you get to keep in your pocket.” — Robert Herjavec
- “If you are under the illusion that you can start a business and run it at your life’s schedule, you are mistaken. The business is like a starving puppy–when it needs to eat, then it needs to eat regardless of what you have going on personally.” — Robert Herjavec
- “Don’t start a business. Find a problem, Solve a problem, The business comes second.” — Robert Herjavec
- “I don’t look at failure as death, I don’t look at failure as finality. I just look at it and pick myself up and say ‘we shouldn’t have done that’ and move on.” — Robert Herjavec
- “If you’re emotional and you’re great at something, the money will follow.” — Robert Herjavec
3. MARK CUBAN
An entrepreneur from the age of 12, Mark Cuban started out selling garbage bags door-to-door. Today, Cuban is far from the youngster salesman he once was. In fact, he is one of the most prolific entrepreneur-investors in the world, founding mega-successful companies such as HDNet, Broadcast.com and MicroSolutions. Cuban is also the proud, and often controversial, owner of the Dallas Mavericks. Even with his successful companies and wealth, Cuban enjoys still enjoys taking some measured risk. An avid investor in startups, including Mahalo, JungleCents.com, motionloft.com, Filesanywhere.com, Naked Pizza and 140Fire.com, his expertise and business savvy can mean millions to the companies he invests in.
Check out these 5 quotes by the outspoken but brilliant Shark, Mark Cuban:
- “You gotta crawl before you BALL!” — Mark Cuban
- “It comes down to finding something you love to do and then just trying to be great at it.” — Mark Cuban
- “Recessions are the best time to start a company. Companies fail. Others hold back capital. If you are willing to do the preparation and work, it is the best time to invest in yourself and start a business.” — Mark Cuban
- “If you start a business and you take out a loan, your a moron.” — Mark Cuban
- “It’s not whether the glass is half empty or half full, it’s who is pouring the water. The key in business and success at any endeavor is doing your best to control your destiny. You can’t always do it, but you have to take every opportunity you can to be as prepared as–and ahead of–the competition as you possibly can be.” — Mark Cuban
4. LORI GREINER
Lori Greiner, or “The Queen of QVC”, as she’s lovingly referred to, is an inventor, investor, entrepreneur, author, and television personality. But it all started with one idea– which became a multi-million dollar international brand. Responsible for creating over 400 products, Lori holds 120 U.S. and international patents, and is regarded as of of the most successful inventors of all time. Besides her own products, Lori has a knack for picking out winners in the Shark Tank and offers her partners a unique value in being the Shark with the TV connection.
Read up! These 5 quotes from “The Queen of QVC” could change the game:
- “As an entrepreneur, you can always find a solution if you try hard enough.” — Lori Greiner
- “When I had challenges, it taught me to be more on top of it for the future. Things go wrong all the time when you are running your own business, but it’s how you perceive it and deal with it that matters.” — Lori Greiner
- “In business, it is most often all about getting your foot in the door, and once you do, everything opens up and things start to naturally progress into bigger and more opportunities.” — Lori Greiner
- “Dear optimist, pessimist, and realist–while you guys were busy arguing about the glass of wine, I drank it! Sincerely, the opportunist!” — Lori Greiner
- “A brilliant idea doesn’t guarantee a successful invention. Real magic comes from a brilliant idea combined with willpower, tenacity, and a willingness to make mistakes.” — Lori Greiner
Business expert, real estate mogul, investor, speaker, consultant, syndicated columnist, author, and television personality, Corcoran is seemingly wonder-woman– in fact, I venture to say that she is wonder woman. Having founded The Corcoran Group with a mere $1,000 loan, under her careful and strategic leadership became a five-billion-dollar real estate business and the largest and best known brand in the industry. Although, she has since sold her company (while enjoying a nice profit), Corcoran is just getting started. Today, she invests with startups, boasting “I have 150 business partners, all with thriving businesses of their own that started with nothing and I made the difference to make them all billionaires.”
Enjoy these 5 millionaire quotes from Shark Barbara Corcoran:
- “Make sure you pick good people to build your business with, as they’ll determine 80 percent of your success.” — Barbara Corcoran
- “All the best things that happened to me happened after I was rejected. I knew the power of getting past no.” — Barbara Corcoran
- “People want to do business with someone they like. If people like you, they’re going to want to do business with you. And if they don’t, you’re going to have an almost insurmountable obstacle to overcome.” — Barbara Corcoran
- “The difference between successful people and others is how long they spend time feeling sorry for themselves.” — Barbara Corcoran
- “Don’t you dare undermine the power of your own instinct.” — Barbara Corcoran
6. DAYMOND JOHN
Known as the “Godfather of Urban Fashion,” Daymond John is an entrepreneur, investor, television personality, author, and motivational speaker. Best known as founder, president, and CEO of clothing company FUBU (“For Us, By Us”), Daymond John’s creative vision has helped revolutionize the sportswear industry. The companies monumental success is evidenced in the fact that FUBU has earned more than $6 billion in worldwide sales to date. As a result of his success, Daymond is widely regarded as one of the most knowledgeable branding experts in the world. Not surprisingly, Shark Tank contestants are constantly chomping at the bit to secure a key partnership with this brilliant businessman.
Here are 5 quotes you don’t want to miss from the Shark, Daymond John:
- “As an entrepreneur, you love your business like a child, and you’re taught to be laser-focused on the business.” — Daymond John
- “Everyone has an idea, but it’s taking those first steps toward turning that idea into a reality that are always the toughest.” — Daymond John
- “The thing about branding is it isn’t etched in stone. A brand is a mark or an image or a perception we stamp on a product, a concept or an ideal, but it doesn’t last forever. Like anything else, it needs to be nurtured and reinforced, or it will start to fade.” — Daymond John
- “In entrepreneurship, you decide to give up your day job at the point where either (A) the hobby/new business is at least making some form of ends meet, or (B) you feel that you need to dedicate yourself for a certain amount of time to it and give yourself the last hoorah.” — Daymond John
- “Learn as many mistakes and what not to do while your business or product is small. Don’t be in such a hurry to grow your brand. Make sure that you and the market can sustain any bumps that may occur down the road.” — Daymond John
You may not be ready to have your prime-time with the Sharks, but you don’t have to go to the Tank to get great advice. Arm yourself and your business with the knowledge of these exceptional business investors and watch your company soar! What are some of your favorite quotes from the Sharks? Let me know in the comments! Adam Buschbacher