5 Reason’s to Apply to Shark Tank!
It’s been a while since we were on Channel 10’s Shark Tank and I thought it would be a good idea to add some advice to founders and startups thinking of applying for season 3.
With over 500k average viewers each episode, and ratings in the top 15 shows of its time slot each week, there is no question that being on Shark Tank will build your profile as well as that of your startup. If you paid for the same level of exposure it would cost you $200k or even more.
Be ready to be best friends with the press, radio and even tv as they will all want a piece of you after the show airs.
2: Market Validation
If you are a consumer driven startup or product there is no better market validation than putting all to bare by going on the show. You can learn so much from having that many eyeballs on you, your startup, and your product and if the market truely wants what you have to offer.
3: Show Preparation / Due Diligence
Shark Tank will prepare you like nothing else. It will take you out of your comfort zone and will make you think of things you would never have thought about. From the pitch to the due diligence and beyond, you will be looking at all the processes within startup and team like never before (background / story, financials, strategy, etc).
Whatever the result on the show (investment or not) you will be better off for it.
Hey Mum, I’m going on TV!
We have always seen the studios and the world of the cameras and lights and not everyone gets to see the other side of how it all gets put together. Arriving at the actors entrance, going through hair and make up, seeing the set, and of course showtime is a great experience. You really get to see the art of television from behind the scenes and the amazing work of the crew (make-up, staging, camera ops, producers and directors to just name a few) that put it all together.
I’ve had friends in that game for a long time and they always said it was organised chaos that somehow always comes together when it needs too.
They couldn’t be more right.
As I said in my post “What it was like being on Channel 10’s Shark Tank”, If you are after capital, don’t go on Shark Tank as there are easier ways to raise funds.
However, if you can jag an investment from 1 or more of the Shark’s there’s no harm in taking it - Remember cash is always king!
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To apply on Season 3 of Shark Tank Australia visit sharktankcasting.com.au. Applications close 26 September 2016 at 17:00 AEST.