My New Business Know-How

Lately, I’ve become addicted to a new television show.

Before I go any further, I have to tell you, this is not a new thing for me.  I have a very addictive personality.  Not that people get addicted to me, but that I get hooked on things very easily.  I guess that might be a side effect of a creative mind or something.  I don’t know.

Anyway, one of the reasons I actually don’t watch that much television is because I become so engrossed in the characters or the storyline that it kind of takes over my life.

This new show is different.  It’s nonfiction.  There’s no plot and the characters are all real people.  Technically, they’re billionaires and entrepreneurs.  That’s right.  I’m talking about Shark Tank.

If you’ve never seen it, it’s a show where people who own their own business or products go and pitch their ideas before a panel of billionaire investors (Mark Cuban, Daymond John, etc…) and if the “sharks” like their idea or business, they’ll invest and become partners.

When my family first told me about the show, I thought, “How boring! Why would I want to watch that?”

But I did watch it… And I love it.  It’s not boring at all.  In fact, it’s quite the opposite. It’s fascinating.

For one thing, I love seeing what these everyday entrepreneurs can do.  Some of them have created some incredibly amazing products and businesses all from scratch!  They start up their own businesses in their garages, or sit for hours at a time crafting their products.  These are real and incredible creative minds at work and I admire them (well, most of them) so much!  I love that the show promotes and supports small businesses and these people who have poured their blood, sweat, hearts, and tears into their products.  They’re all following their dreams and that’s so awesome to me.

The sharks are awesome as well.  They know business up and down, left to right, and I am learning so much from them.  I am not a natural business person.  I have a creative mind, I’m pretty good with people, but business is a foreign affair to me.  My dad, on the other hand, is an excellent business brain and usually, I rely on him for any of the business savvy stuff.  After a few weeks of watching Shark Tank, however, I’m learning more and more and finding myself capable of identifying good deals, not so good deals, and even capable of figuring out what an entrepreneur is estimating their company is worth.

For example, if an entrepreneur comes in seeking a $100,000 investment in exchange for 20% of the company, they are estimating their company’s value at $500,000.

Boom.

The sharks also offer excellent business advice, not only for the entrepreneurs, but for anyone watching at home who has started or is thinking of starting their own business.  For example, you need to be willing to work hard, sacrifice, eat Ramen (I’ve got that one covered), and remember that there are people out there who are working against you.  Now, in the indie author community, I don’t really think that applies.  Yes, we are all working toward the same goal, selling books, but we’re all one big team.  We support each other and it works for our advantage because we’re all telling different stories.  We’re not competing with one another and I love that.  Still, the sharks offer a lot of encouragement and good advice.  They’ve been there and succeeded!  And I really do think they genuinely enjoy helping these new entrepreneurs.

Well, Kevin O’Leary, aka Mr. Wonderful, is really just in it for the money.  But he’s a shark.  What do you expect?

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6 thoughts on “My New Business Know-How

  1. This is awesome that you see that show, and starting to understand it. For me entrepreneurs are using a different language that I don’t understand. It’s really difficult to know what it is of how they do business. I agree with you on this one our writing creative minds are used for entertaining readers. Somehow you’ll understand their techniques. I can’t learn it at all. You have to be very smart and clever savvy. This is why they are very good at what they do.

    • It’s true! That’s part of why I watch, because I want to learn the tricks that they know, and I feel like I’m understanding more each day. I wish I had their marketing skills and resources! I think for writers, it helps to have more product AKA lots of books. I only have two. Working on building up product and THEN really going to start pushing sales!

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