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What It's About
Today's listener has a big time opportunity. Should they take the bite?
Notes from Chris
Episode 1894
Two business partners have the chance to go on Shark Tank—but they’re also having second thoughts. Should they refuse Mark Cuban’s money?? In my answer I’ll tell you a little about the behind-the-scenes of shows like Shark Tank. Fun fact: most deals are never actually closed! It’s all about providing entertainment."My business partner and I have invented a tool that cools your mattress overnight so you sleep better. There are other options like this on the market, but most of them cost $1,000 or more. Our goal is to get the retail price down to $300 or less. We don't have a patent yet, but we're in the process of applying. Meanwhile, we applied to Shark Tank on a whim ... and got in! Or at least, we got a call from a producer who asked a lot of questions, and then she called back to check on potential taping dates. It sounds like it's happening! Just one problem: both my partner and I aren't sure we're ready. At this stage, our business doesn't need outside investment, and it may never need that. For now the main thing we need is time, and maybe some advice on how to grow. Are we crazy of thinking about turning down Shark Tank? My partner suggested we try deferring for a year, but I got the sense in talking with the producer that it's now or never."Listen to today's episode to learn more...
SEE ALSO:
- Savvy Sleeper Pillowcases Produce Dreamy Profits for Tech Worker: Tired of battling split ends and hair breakage, a fashion and lifestyle blogger switches to satin pillowcases. She then learns to make and sell her own, earning six-figures annually.
- “The Little Mermaid” Inspires Six-Figure Sleeping Bag Biz: A special effects artists turns his Hollywood trade into an oceanic brand that makes unique sleeping bags for kids.
- Organic Loungewear Becomes Sleeper Sensation: An Aussie woman develops a line of cotton sleepwear based on Fair Trade practices.
