Tank - Shark

Understand how much equity you are willing to give in exchange for capital, and be prepared to justify it. 2. The Application Process Fill Out the Application: Be diligent and avoid typos.

The Sharks will immediately ask for sales-to-date, profit margins, cost of goods sold, and customer acquisition costs. Shark Tank

Before reaching out, your business must be prepared for intensive scrutiny. Understand how much equity you are willing to

Producers look for a compelling personal story (e.g., overcoming adversity) as well as a solid business. The Sharks will immediately ask for sales-to-date, profit

If you are in the invention phase, have a three-dimensional version of your vision to demonstrate.

Anticipate questions about your financials and potential, as negotiations can last 90–120 minutes. 4. Top 10 Tips for Success Based on successful pitch analyses: Credible: Have solid sales numbers. Agreeable: Be pleasant to work with. Interactive: Let Sharks try the product. Captivating: Tell a compelling story. Relevant: Solve a real problem. Entertaining: Be enthusiastic and engaging. Confident: Believe in your business. Powerful: Know your market inside out. Funny: Use humor if appropriate. Inspirational: Show passion for your mission. Key Takeaways

Start with a memorable story, not just facts. Product Demo: Conduct a live, high-impact demonstration.