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Shark Tank on ABC (1 Viewer)

Cuban is a great addition. Not sure how well Foxworthy is going to work, but the first two episodes of Shark Tank 2.0 were really good.

 
Late reminder for the new season starting tonight, first episode is on now. Mark Cuban and Jeff Foxworthy are going to be the new sharks on the show this season. Cuban is on this episode, dont see Foxworthy yet
Isn't that the hillbilly comedian? Does he have any business experience whatsoever or is he there for ratings or something?
IIRC the girl on the US version won her money or fluked into it and has no real experience or knowledge.(Can't be bothered to google it but I think this is true)

 
Late reminder for the new season starting tonight, first episode is on now. Mark Cuban and Jeff Foxworthy are going to be the new sharks on the show this season. Cuban is on this episode, dont see Foxworthy yet
Isn't that the hillbilly comedian? Does he have any business experience whatsoever or is he there for ratings or something?
IIRC the girl on the US version won her money or fluked into it and has no real experience or knowledge.(Can't be bothered to google it but I think this is true)
:no: Shes a self made millionaire. From wiki:

Barbara Corcoran is an American real estate investor and agent, a Shark on the ABC show Shark Tank, a real estate correspondent for NBC.

She graduated from St. Thomas Aquinas College with a degree in education in 1971. After graduation, she taught school for a year, but soon moved on working various jobs including a side job renting apartments in New York City. She wanted to be her own boss and in 1973 started a real estate business called The Corcoran Group with a $1000 loan. In 2001, Corcoran sold her real estate company to the giant NRT Incorporated for an estimated $70 million.

 
Cuban is a great addition. Not sure how well Foxworthy is going to work, but the first two episodes of Shark Tank 2.0 were really good.
Watching it now. Don't see Cuban or Foxworthy. :shrug:
Nope.Good episode tonight I thought.The sharks are definitely "meaner" this year - no doubt they figured out what drives ratings.I think the last guy made a mistake not selling his odor neutralizer company / patent.
 
I've seen parts of lots episodes, but I've never seen a $4M buyout offer before. :shock:
Never seen one turned down either. :shock: :shock: :shock:
Last night was the first time I've ever watched this show. :thumbup: to the nose filter dude for sticking to his guns.
Kudos for sticking to his beliefs but he would have made a killing by saying yes and doing nothing more.
That guy did the right thing....that product is a gold mine, especially once it gets into the mining/oil industry. Hell, he had 3 million $ guaranteed just by his saudi contract IIRC
 
Cuban is a great addition. Not sure how well Foxworthy is going to work, but the first two episodes of Shark Tank 2.0 were really good.
Watching it now. Don't see Cuban or Foxworthy. :shrug:
Nope.Good episode tonight I thought.

The sharks are definitely "meaner" this year - no doubt they figured out what drives ratings.

I think the last guy made a mistake not selling his odor neutralizer company / patent.
That guy was a complete fool. He threw away a lot of money. That seems like a great product, but he has no idea how to get it out there.
 
Cuban is a great addition. Not sure how well Foxworthy is going to work, but the first two episodes of Shark Tank 2.0 were really good.
Watching it now. Don't see Cuban or Foxworthy. :shrug:
Nope.Good episode tonight I thought.

The sharks are definitely "meaner" this year - no doubt they figured out what drives ratings.

I think the last guy made a mistake not selling his odor neutralizer company / patent.
That guy was a complete fool. He threw away a lot of money. That seems like a great product, but he has no idea how to get it out there.
Also was he offered 7% royalty on gross sales or just profit?If it was on all future gross sales he's an idiot as with the right people running it they can easily do 2-5 million and possibly much more a year in sales if that dimwit previously did 500k.

 
Cuban is a great addition. Not sure how well Foxworthy is going to work, but the first two episodes of Shark Tank 2.0 were really good.
Watching it now. Don't see Cuban or Foxworthy. :shrug:
Nope.Good episode tonight I thought.

The sharks are definitely "meaner" this year - no doubt they figured out what drives ratings.

I think the last guy made a mistake not selling his odor neutralizer company / patent.
That guy was a complete fool. He threw away a lot of money. That seems like a great product, but he has no idea how to get it out there.
Also was he offered 7% royalty on gross sales or just profit?If it was on all future gross sales he's an idiot as with the right people running it they can easily do 2-5 million and possibly much more a year in sales if that dimwit previously did 500k.
Profit. Either way, he made a big mistake.
 
Cuban is a great addition. Not sure how well Foxworthy is going to work, but the first two episodes of Shark Tank 2.0 were really good.
Watching it now. Don't see Cuban or Foxworthy. :shrug:
Nope.Good episode tonight I thought.

The sharks are definitely "meaner" this year - no doubt they figured out what drives ratings.

I think the last guy made a mistake not selling his odor neutralizer company / patent.
That guy was a complete fool. He threw away a lot of money. That seems like a great product, but he has no idea how to get it out there.
Also was he offered 7% royalty on gross sales or just profit?If it was on all future gross sales he's an idiot as with the right people running it they can easily do 2-5 million and possibly much more a year in sales if that dimwit previously did 500k.
Profit. Either way, he made a big mistake.
Seriously. He could have done nothing for the rest of his life and made money.
 
Cuban is a great addition. Not sure how well Foxworthy is going to work, but the first two episodes of Shark Tank 2.0 were really good.
Watching it now. Don't see Cuban or Foxworthy. :shrug:
Nope.Good episode tonight I thought.

The sharks are definitely "meaner" this year - no doubt they figured out what drives ratings.

I think the last guy made a mistake not selling his odor neutralizer company / patent.
That guy was a complete fool. He threw away a lot of money. That seems like a great product, but he has no idea how to get it out there.
Also was he offered 7% royalty on gross sales or just profit?If it was on all future gross sales he's an idiot as with the right people running it they can easily do 2-5 million and possibly much more a year in sales if that dimwit previously did 500k.
Profit. Either way, he made a big mistake.
Seriously. He could have done nothing for the rest of his life and made money.
I disagree. Who is to say that the sharks don't just pay the 150K and then a few years down the road, find out that the product sucks or that a bigger company is doing a better job with a similiar product? They can then just write the 150K off as a bad decision and the original guy now has nothing (no company, no royalty, nothing).I agree that the dude was a doofus though and it was annoying how he couldn't just say "yes" or "no".

 
Cuban is a great addition. Not sure how well Foxworthy is going to work, but the first two episodes of Shark Tank 2.0 were really good.
Watching it now. Don't see Cuban or Foxworthy. :shrug:
Nope.Good episode tonight I thought.

The sharks are definitely "meaner" this year - no doubt they figured out what drives ratings.

I think the last guy made a mistake not selling his odor neutralizer company / patent.
That guy was a complete fool. He threw away a lot of money. That seems like a great product, but he has no idea how to get it out there.
Also was he offered 7% royalty on gross sales or just profit?If it was on all future gross sales he's an idiot as with the right people running it they can easily do 2-5 million and possibly much more a year in sales if that dimwit previously did 500k.
Profit. Either way, he made a big mistake.
Seriously. He could have done nothing for the rest of his life and made money.
I disagree. Who is to say that the sharks don't just pay the 150K and then a few years down the road, find out that the product sucks or that a bigger company is doing a better job with a similiar product? They can then just write the 150K off as a bad decision and the original guy now has nothing (no company, no royalty, nothing).I agree that the dude was a doofus though and it was annoying how he couldn't just say "yes" or "no".
His constant look of :shock: was priceless.
 
'eoMMan said:
'No. 16 said:
'CrossEyed said:
'moderated said:
'CrossEyed said:
'Das Boot said:
'CrossEyed said:
Cuban is a great addition. Not sure how well Foxworthy is going to work, but the first two episodes of Shark Tank 2.0 were really good.
Watching it now. Don't see Cuban or Foxworthy. :shrug:
Nope.Good episode tonight I thought.

The sharks are definitely "meaner" this year - no doubt they figured out what drives ratings.

I think the last guy made a mistake not selling his odor neutralizer company / patent.
That guy was a complete fool. He threw away a lot of money. That seems like a great product, but he has no idea how to get it out there.
Also was he offered 7% royalty on gross sales or just profit?If it was on all future gross sales he's an idiot as with the right people running it they can easily do 2-5 million and possibly much more a year in sales if that dimwit previously did 500k.
Profit. Either way, he made a big mistake.
Seriously. He could have done nothing for the rest of his life and made money.
I disagree. Who is to say that the sharks don't just pay the 150K and then a few years down the road, find out that the product sucks or that a bigger company is doing a better job with a similiar product? They can then just write the 150K off as a bad decision and the original guy now has nothing (no company, no royalty, nothing).I agree that the dude was a doofus though and it was annoying how he couldn't just say "yes" or "no".
If those guys can't make his product into a money maker, then I highly doubt he could by his brief pitch.
 
'eoMMan said:
'No. 16 said:
'CrossEyed said:
'moderated said:
'CrossEyed said:
'Das Boot said:
'CrossEyed said:
Cuban is a great addition. Not sure how well Foxworthy is going to work, but the first two episodes of Shark Tank 2.0 were really good.
Watching it now. Don't see Cuban or Foxworthy. :shrug:
Nope.Good episode tonight I thought.

The sharks are definitely "meaner" this year - no doubt they figured out what drives ratings.

I think the last guy made a mistake not selling his odor neutralizer company / patent.
That guy was a complete fool. He threw away a lot of money. That seems like a great product, but he has no idea how to get it out there.
Also was he offered 7% royalty on gross sales or just profit?If it was on all future gross sales he's an idiot as with the right people running it they can easily do 2-5 million and possibly much more a year in sales if that dimwit previously did 500k.
Profit. Either way, he made a big mistake.
Seriously. He could have done nothing for the rest of his life and made money.
I disagree. Who is to say that the sharks don't just pay the 150K and then a few years down the road, find out that the product sucks or that a bigger company is doing a better job with a similiar product? They can then just write the 150K off as a bad decision and the original guy now has nothing (no company, no royalty, nothing).I agree that the dude was a doofus though and it was annoying how he couldn't just say "yes" or "no".
If those guys can't make his product into a money maker, then I highly doubt he could by his brief pitch.
:goodposting: He had nothing to lose with him in charge of the company. Also he was getting 150k upfront with royalties. If the company flops at least he gets 150k out of it.

 
'eoMMan said:
'No. 16 said:
'CrossEyed said:
'moderated said:
'CrossEyed said:
'Das Boot said:
'CrossEyed said:
Cuban is a great addition. Not sure how well Foxworthy is going to work, but the first two episodes of Shark Tank 2.0 were really good.
Watching it now. Don't see Cuban or Foxworthy. :shrug:
Nope.Good episode tonight I thought.

The sharks are definitely "meaner" this year - no doubt they figured out what drives ratings.

I think the last guy made a mistake not selling his odor neutralizer company / patent.
That guy was a complete fool. He threw away a lot of money. That seems like a great product, but he has no idea how to get it out there.
Also was he offered 7% royalty on gross sales or just profit?If it was on all future gross sales he's an idiot as with the right people running it they can easily do 2-5 million and possibly much more a year in sales if that dimwit previously did 500k.
Profit. Either way, he made a big mistake.
Seriously. He could have done nothing for the rest of his life and made money.
I disagree. Who is to say that the sharks don't just pay the 150K and then a few years down the road, find out that the product sucks or that a bigger company is doing a better job with a similiar product? They can then just write the 150K off as a bad decision and the original guy now has nothing (no company, no royalty, nothing).I agree that the dude was a doofus though and it was annoying how he couldn't just say "yes" or "no".
If those guys can't make his product into a money maker, then I highly doubt he could by his brief pitch.
:goodposting: He had nothing to lose with him in charge of the company. Also he was getting 150k upfront with royalties. If the company flops at least he gets 150k out of it.
$225K. The last shark that jumped in upped the offer.
 
Good show. My favorite was the guy who wanted to surgically implant bluetooth
:lmao: :cry: :lmao: Just discovered this show after reading an interview with Daymond John and came to post about this.

:lmao: The lady had it right when she said it's the craziest idea she's ever heard. Kudos to her for bowing out almost immediately. You'll need a new surgery every time you want an upgrade? What kind of drugs was this guy on when he came up with this?

 
That broom/scraper deal was fantastic.
Yep, and he made the right choice in funding partners as well IMO. Kevin just wants a royalty check for minimal effort... hence, of course, his shark status.I wish Kevin could have talked to the guy's wife though.I've become a big Barbara fan - she generally funds the little guys.The girl with the maternity gowns made a HUGE mistake not partnering with Barbara.
 
That broom/scraper deal was fantastic.
Yep, and he made the right choice in funding partners as well IMO. Kevin just wants a royalty check for minimal effort... hence, of course, his shark status.I wish Kevin could have talked to the guy's wife though.I've become a big Barbara fan - she generally funds the little guys.The girl with the maternity gowns made a HUGE mistake not partnering with Barbara.
Right on all accounts.That woman was lying through her teeth when Barbra laid out the 3 conditions, it was quite obvious, then she confirmed it.
 
That broom/scraper deal was fantastic.
Yep, and he made the right choice in funding partners as well IMO. Kevin just wants a royalty check for minimal effort... hence, of course, his shark status.I wish Kevin could have talked to the guy's wife though.I've become a big Barbara fan - she generally funds the little guys.The girl with the maternity gowns made a HUGE mistake not partnering with Barbara.
Right on all accounts.That woman was lying through her teeth when Barbra laid out the 3 conditions, it was quite obvious, then she confirmed it.
 
That broom/scraper deal was fantastic.
:yes:Can't believe nobody had ever thought of that before. Hell, when you go to home depot; the scrappers and brooms are on the same aisle. I bet there's some product development guy somewhere kicking himself in the nuts.
 
That broom/scraper deal was fantastic.
:yes:Can't believe nobody had ever thought of that before. Hell, when you go to home depot; the scrappers and brooms are on the same aisle. I bet there's some product development guy somewhere kicking himself in the nuts.
You knew it was a great idea when every shark was excited. I agree with the other posters he took the right deal. I'm a big fan of the Fubu guy (forget his name at the moment).
 
Really love this show.

Will be interesting to watch them transform the broom/scraper guy into a version of the Shamwow dude. He seems a bit meek to pull it off now, but that was the first thing I thought of when they said they wanted him to be the face of the product....

 
That was the first time I've seen the sharks get into such a frenzy. It was fascinating to watch.

Of the main judges, Barbara is clearly the nicest. She helps out a lot of small companies that have limited upside. Kudos to her for helping small businesses that will turn a profit but not a massive one.

My favorite shark is the bald guy. He's a shark, vulture, or whatever else you want to call him, but he's about as upfront about it as one can be.

 
That broom/scraper deal was fantastic.
:yes:Can't believe nobody had ever thought of that before. Hell, when you go to home depot; the scrappers and brooms are on the same aisle. I bet there's some product development guy somewhere kicking himself in the nuts.
You knew it was a great idea when every shark was excited. I agree with the other posters he took the right deal. I'm a big fan of the Fubu guy (forget his name at the moment).
Daymond and Kevin are the best 2 guys to go into business with, with that broom scraper product. Man, seeing that guy come up with that idea makes me wanna invent some obvious little product to get rich with.
 
My favorite shark is the bald guy. He's a shark, vulture, or whatever else you want to call him, but he's about as upfront about it as one can be.
"Barbara when you die you're going to hell and you'll be forced to try and sell those gowns."I think all the sharks are impressive.
 
Anyone else think the broom guy left some money on the table? He came in asking for too little and then the Sharks all started bidding against each other and he just took their best offer without ever asking for anything more from them (?)...

 
Anyone else think the broom guy left some money on the table? He came in asking for too little and then the Sharks all started bidding against each other and he just took their best offer without ever asking for anything more from them (?)...
I think he'll be fine. He's not a shark - he got a good offer and he took it. He certainly left a little bit on the table but too many of these entrepreneurs try to fight with the sharks - and that's always a losing proposition. If it had really been an awful offer the other group of sharks would have beat it. I agree they're all impressive. Just the bald guy is my favorite.
 
I guess I'm the only one not impressed with the broom. For one, I could see that scraper easily damaging certain tile or hardwood floors.

Also I doubt its effectiveness with certain stuck-on foods. I know with my kids, the only way I'm getting some foods off the floor is with a very wet mop and hard elbow grease.

 
Anyone else think the broom guy left some money on the table? He came in asking for too little and then the Sharks all started bidding against each other and he just took their best offer without ever asking for anything more from them (?)...
Yep. I told my wife he could have gotten $100k easy.
 
Anyone else think the broom guy left some money on the table? He came in asking for too little and then the Sharks all started bidding against each other and he just took their best offer without ever asking for anything more from them (?)...
Yep. I told my wife he could have gotten $100k easy.
Why risk losing possibly millions of dollars down the line for an extra 20k up front? I think the only costs for the guy so far has been for the prototype and pending patent. I doubt all of those total 80k in expenses. Also, Daymon Jones decreased his bid from 40k to 30k for a total of 70k when the guy wanted to call his wife. So I doubt either group would have gone higher.
 
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It rarely works out well to haggle with the sharks, or to walk out of the room so they can discuss it - they usually partner up and reduce the terms.

I think you have to go in knowing who you ideally want to partner with, and the lowest you'll go - then unless the sharks are really fighting over your product (rare), quickly take the best deal, or the deal with the person you think is best for your product.

 
It rarely works out well to haggle with the sharks, or to walk out of the room so they can discuss it - they usually partner up and reduce the terms.

I think you have to go in knowing who you ideally want to partner with, and the lowest you'll go - then unless the sharks are really fighting over your product (rare), quickly take the best deal, or the deal with the person you think is best for your product.
Roger does this all the time.
 
It rarely works out well to haggle with the sharks, or to walk out of the room so they can discuss it - they usually partner up and reduce the terms.

I think you have to go in knowing who you ideally want to partner with, and the lowest you'll go - then unless the sharks are really fighting over your product (rare), quickly take the best deal, or the deal with the person you think is best for your product.
Roger does this all the time.
Roger?Theres 2 Kevins, Daymond, Barbara and Robert

 
It rarely works out well to haggle with the sharks, or to walk out of the room so they can discuss it - they usually partner up and reduce the terms.

I think you have to go in knowing who you ideally want to partner with, and the lowest you'll go - then unless the sharks are really fighting over your product (rare), quickly take the best deal, or the deal with the person you think is best for your product.
Roger does this all the time.
Roger?Theres 2 Kevins, Daymond, Barbara and Robert
Robert... the guy that sits on the end next to Barbara.
 
'Dr. Awesome said:
'Frankbot said:
Anyone else think the broom guy left some money on the table? He came in asking for too little and then the Sharks all started bidding against each other and he just took their best offer without ever asking for anything more from them (?)...
I think he'll be fine. He's not a shark - he got a good offer and he took it. He certainly left a little bit on the table but too many of these entrepreneurs try to fight with the sharks - and that's always a losing proposition.
:yes: "Pigs get fed, hogs get slaughtered." Leave something on the table for everyone and everyone walks away happy.
 
There's some definite strategy to going in there with an offer / equity request to the sharks.

The rules are that they cannot walk out with less $$ than they ask for, so they should go in there and ask for the minimum that they will want to walk out of there with if they get a deal.

The other issue is valuations. Simple math tells business people how to valuate a company / investment (i.e. if you ask for $100K for 10% of a company, that is valuing the company as a $1M company). Believe it or not, many people have no clue how to do this right or that they (worse) are doing it wrong. This happens quite often with creative people - which many entrepreneurs are - and it can be a fatal flaw in the Shark Tank.

You want to go in there and act like you have some business sense. I think going in there and asking for the $ you want and offering about half of the stake you'd be willing to give up is the right strategy. The sharks know that some are asking for too much, but if you are a $500K company and are asking $100K for 5% then you're out of your mind. They can offer $100K for 20% if you ask for 10%. That's the art of the deal in action.

 

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