Everyone makes mistakes, even the great businessmen who made a fortune on their projects. The Shark Tank is, in my opinion, the only TV show I have ever crossed that actually made sense. For the ones who are not familiar with the show content, it is basically the investment show. The contestants bring their business to the table and try to convince the judges to invest. If the ‘sharks’ think that these businesses are worth investing, the contestants go home with the money, and if not, they got the publicity, if nothing else. Either way, it is rising from the ashes. But there were cases where judges thought that the business had no future at all, but the owners managed to rise anyway and prove that if you are persistent enough, you can do everything.
When Derek Pacque came to the show to try to convince the judges to invest in his ticketless coat check system, he was even offered $200.000 for a third of the business, but at the end, he left home without any deal. Despite this unsuccessful trade, his invention became so popular that it even ended up at the Superbowl and the Mercedez-Benz Fashion Week.
And did you watch the three-sister episode? Well, that was a blast. They presented their dating network, Coffee Meets Bagel, to the Shark Tank investors and audience with the offer of $500.000 for the 5% of the shares. This idea was so brilliant that, even with the dozens of dating apps on Google Store, they were offered $30 million for the entire business, which is the highest amount ever offered on the show. But sisters refused to give up on their newborn which is why they left home empty-handed. This was actually the ‘sharks’ mistake since they have expanded their business to Hong Kong and started earning big money and the new expansions are still ahead.
For more examples such as Copa Di Vano, HY Conn LLC, Chef Big Shake etc visit Insider Monkey for their 11 most successful Shark Tank rejects article and try to brainstorm some ideas of your own. Remember, everyone can succeed if they truly believe in themselves.