Learnings from Shark Tank

Following the investor pitch, their outcome, and subsequent progress of those who receive funding on Shark Tank reiterates some fundamentals of entrepreneurship.

Shark tank image for Applyifi - Investor Pitch Deck

  • Art of articulating your pitch: Setting the context right is super important in helping investors appreciate that what you are doing has a strong market potential. Clarity of communicating what you do gets investor attention. Gimmicks and showmanship doesn’t impress investors.. Passion, commitment and conviction impresses investors.
  • Target a market: Having clarity on who you will target as customers (even if your product is relevant for everyone), how you will reach them, what your sales pitch  to them will be, how you will deliver the product/service and how you will provide after-sales support are as important, if not more important, than a good product or service
  • Know your numbers: Entrepreneurs with a good understanding of market dynamics, and what their fully loaded costs will be and how the numbers stack up have a much better chance of getting investor attention…. and better valuation.
  • Be resourceful: Resourcefulness is about leveraging all your current resources to overcome current constraints. Get things done. Somehow.

Apart from other learnings outlined above, one observation that stands out is that good sales numbers shuts everyone up. Else, everyone has an opinion on how you should go about your business.

 

By Prajakt Raut – Founder Applyifi

Applyifi helps startups refine their business plans and investor pitch deck [www.applyifi.com].

Applyifi banner - pitch deck

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Author: Prajakt Raut

Prajakt Raut is the founder of Applyifi.com, and author of the book for startups - ‘Starting Up & Fund Raising’ Prajakt personal goal in life is to encourage and assist a 100,000 people to become entrepreneurs. _____________ Prajakt is the founder of Applyifi - an online platform that provides startups a 36-point scorecard and assessment report on the venture's investment readiness [www.applyifi.com], and helps them improve their odds of getting funded. Prajakt is also the founding partner of The Growth Labs, a platform where growth-stage companies get sharp, incisive advice from senior professionals and experienced entrepreneurs. [www.thegrowthlabs.in] Before starting Applyifi, Prajakt was the head of operations at IAN, founding member of a leading incubator, and the Asia-Director for TiE (2004 - 2007). Previously Prajakt had co-founded Orange Cross, a healthcare services company, and was part of the founding team member of Idealake Technologies. While in college Prajakt had founded a printing business and has spent over 10 years working in leading advertising agencies. Prajakt’s book, ‘Starting Up & Fund Raising’, helps startups understand an investor’s perspective, and helps them improve their odds of getting funded. The book also helps entrepreneurs understand the building blocks of a business.

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