Top 5 Business lessons I wish I know From Shark Tank Earlier.

Shark Tank is a reality show of entrepreneurs showcasing their business to investors.

It provides viewers with a brief course on what works and what doesn't when it comes to writing your pitch. This series was a success. viewers get a first-hand look at the do's and more importantly, sharks including sports entrepreneur Mark, cuban real estate Barbara Corcoran and Kevin O'Leary and Daymond John Plus appeared as guests of Richard Branson a virgin and Sara Blakely of the famous spanking.

Here are the top 5 lessons every businessman should know before dividing into the Business.

1) Know how far you will go in a negotiation:

The sharks have not reached the top of the business game by being generous, they are ruthless and will seize opportunities with the lowest possible price, some The episode showed how quickly they started running around. When they saw blood in the water, a businessman made multiple offers to choose from several sharks and she couldn't make a decision right away. During this time, the sharks were thinking and talking to each other when she returned from the station wagon. Sharks makes a lower offer than original if the contractor does her calculations first, she will know exactly what she can and cannot accept without hesitation before jumping in. Any negotiation the numbers and percentages can be close to each other so you don't let your guard down.

2) Know your own story:

If the idea of summarizing what your company does in ten seconds seems impossible, you may be looking at the wrong product or service. From Elon Musk, Jeff Bezos, the world is full of business leaders who will give you the same advice to make sure your product solves a real problem. When you see a real problem and you can fix it then you have a big problem in your hands. Sharks are interested in the size of the problem . Does this show how many people have trouble baking bread in the market or is it a whole new market that will create a new consumer of bread avocado toast? These are numbers they will look at and use to gauge the potential of your business. And how are you dealing with it?

3) Knowing your numbers:

In addition to knowing where you can go, you need to show that you understand, how you got those funds, how your business is valued, how profitable for investors. All these frequent questions that every business owner should be able to answer about their business . If you are going to quote a number, make sure you can unzip it and back it up with a hard reality. When that happens to an investor, it's okay, because the shark bait that takes away an investor is not just about losing money. But there is another way the investor can add knowledge to your bottom line.

4) An advisor is much more valuable than an investor:

For example, a shark like Daymond John who was able to leverage his own network and bring in an entrepreneur product in Best BuyLori Greiner, queen of QVC, would consider investing in any property. Which product she considers to have potential. home shopping corner, those connections are worth millions of dollars over a small investment. Most entrepreneurs are required in the program to have a successful, well-connected investor on the board. Your advice is an valuable boon for new business ventures . Although you have to spend less money upfront, the long-term profits can be worth it.

5) Make a great first impression and don't underestimate your presentation:

Entrepreneurs who enter the pool with spectacular and memorable throws often have better results than those who do not. Brian Lim, owner of Incredible Lights, walks in with an animated head that resembles a DJ's marshmallow . He sells LED gloves and fingertips that are so popular at rallies, lectures concise and clear in one share with an impressive $7 million in annual sales. Other amazing lights rocked a deal with Sharks Mark Cuban and Daymond John Cuban delivered $650,000 for a 5% stake and John had licensing rights and a 20% commission on issues my own.

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