The award-winning reality-based TV show Shark Tank has had a remarkable impact on the business world and now influences a lot of inspiring entrepreneurs.
Recently, they have celebrated their 10th season, and on that private event, some of the Sharks and the guest Sharks shared their best advice on how to make a business famous.
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Be creative on your product
Lori Greiner said, “It’s a mix, right? Of smart marketing and ingenious product. For example, Scrub Daddy was a technology. So, taking that one sponge, which was revolutionary, changed the whole sponge arena. We now have, to date, 20 different SKUs, and we have 30,000 new retail locations and 170 million in sales. That’s what takes it from one idea to a global brand.”
2. Use the power of social media
- Author, TV celebrity and founder of Skinnygirl brand, Bethenny Frankel said, “Social networking is so important. Also being a little bit disruptive now … and you have to be creative. You have to be creative. The President was the most disruptive candidate that there’s probably ever been in history. He got people’s attention, and young entrepreneurs need to get people’s attention in some way. So be a little disruptive.”With social media, anyone can put their business in front of a broad audience considering the 2 billion people using the same social media platform. This is very achievable especially if they can create unique content that can go viral.
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The importance of building a community
If you don’t have any knowledge on how to start building your community, you can use the power of someone else. You can seek help from influencers who already have their community wherein they will introduce your product. As a matter of fact, Shark Tank is the world’s largest influencer platform in the business industry.
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Create a gimmick to get noticed by the media
Getting featured in the television or other media platforms is one way that would differentiate your business from other competitors, and reaching a larger audience is one significant advantage. Be innovative and be willing to pull off some educated risks with regards to getting noticed by the media.
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Stay focused and know your strengths
Billionaire Mark Cuban shared his insights, “Knowing your unique advantages, play to that, and your strengths. And focus. You know, what happens is very often people start with an idea, get a little bit of traction, then it gets hard. And when it gets hard, they start looking for other things to do as opposed to playing to their strengths. Because businesses aren’t supposed to be easy. You know, if they were easy everybody would already be rich, and we’d all be sitting on a beach somewhere. And so, when it gets tough, you gotta dig in and work hard. I’d say the final thing I’d add is that sales cures all. There’s never been a business that succeeded without sales. So, if you focus on selling … if you’re able to sell … and that’s something that is one of your core competencies, then you’ll be okay.”
