SHARK TANK STORY | My First Million Podcast

About this video

The hosts discuss their experiences with reality TV, including Love is Blind and Shark Tank. Their guest, who appeared on Shark Tank in 2017, walks through the application process, deal negotiation with investor Lori Grenier, and the behind-the-scenes realities of filming versus the edited final product. The guest also shares how their company experienced sustained growth rather than a spike after their episode aired during Thanksgiving weekend.

Key takeaways

• The Shark Tank application process is extensive—a 50-page online application followed by 40+ hours of obligations, contracts, producer interviews, and a 4-month collaboration with producers to develop your story and pitch before filming
• The guest’s deal with Lori Grenier (a $20M post-money valuation, line of credit at 8% for 5% equity) changed favorably after the initial handshake during due diligence, which the guest notes is common—many Shark Tank deals either fall through or are renegotiated after the show
• The guest’s company saw a different growth pattern than typical Shark Tank bumps: instead of an immediate spike during the November episode (which aired before Cyber Monday), they experienced sustained doubling of sales week-over-week and month-over-month without a crash, partly because they were properly scaled and didn’t use off-the-shelf platforms like Shopify

Episode details: published March 4, 2020 · 522 views · 11:12 long. Summary written by Self Growth Videos from the episode itself. The business ideas, figures and results discussed are the hosts’ and guests’ own claims, shared as brainstorming and entertainment — not verified facts and not investment advice.

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