The dirty little secret is most "Shark Tank" deals don't close anyway. Because the devil is in the details and most sellers obfuscate and when the sharks dig down deep and do their due diligence they often walk away.
But why do the pitchers walk away?
I have "Shark Tank" on permanent record on my DVR. And I'll be honest, I'm a bit o.d.'ed on the concept, which is that everybody can come up with a good idea and get rich and that those who are already rich need to be respected for their acumen. In a world where most managers never find a hit band, just because you're successful in one enterprise, why do I believe you should succeed in another?
But one thing rich people have is relationships. And relationships are everything. Poor people believe the idea is king. That if people only knew what they were selling, they'd triumph. But in today's world it's almost impossible to get your message across. And what the rich people with relationships do is get your message in front of others, to see if it sinks or swims.
And the truth is that is even getting harder.
Used to be if you had a TV show, you'd made it. Now there are in excess of 400 scripted shows a year and the odds of syndication are almost nonexistent so getting a deal is just getting started. A record company, if you're lucky, can get you on Top Forty radio. Other than that, it can't do much. And I know this is overwhelming but if you get an opportunity...
Don't turn it down.
So I'm watching last Friday's "Shark Tank" and a guy who makes earplugs turns down Mr. Wonderful's offer. What is he thinking? That he can go it alone? That being on television is enough to put his company over the top? How can he be so dumb?
You need help. You need a team. You cannot do it alone.
Of course there are exceptions. And if you're the kind of person who looks to the exceptions to justify your efforts, good luck, chances are you're gonna hit a brick wall. Don't try to reinvent the wheel. You've got to give up to get.
The problem today is everybody's too sophisticated, everybody's wary of being ripped-off. They don't know their partners...are not interested unless they can make money. Want to excite a potential partner? Show them how much money they can make, don't try to keep them at arm's length.
You need friends. You cannot make it without them. You're counting on their effort to push you through. A network of many far exceeds the power of you, unless you're a superstar.
That's the conundrum. One person can change the world. But they rarely do it alone. When help is offered, TAKE IT!
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