Shark Tank is a critically acclaimed business-themed show where investors are searching for the best businesses and products out there. This show gives entrepreneurs in the early stage of development the chance to secure a business deal to help them or their business advance to the next level.
I conduct one to two afternoon video sessions a week. It started with TED talks on various subjects relating to business or development. At some point the thought occurred to me to show something business-themed that would demonstrate the back-end of business that the front-line rarely sees.
I needed something that demonstrated that it was important to know your business and your competitors, that numbers matter and that you have to make a profit. It had to show that hard work, above all else, is required to sustain and grow your business.
Shark Tank was perfect because it teaches that the keys to success in business require you to:
- Know your business
- Know your numbers
- Know that there are no shortcuts
- Work hard to succeed
- Sell yourself
- Sell your business
The show also encourages entrepreneurship and promotes the spirit of the American dream. Several ladies have come up with ideas they want to pitch.
Playing the show as part of our afternoon video series has had a greater impact that I had initially hoped for. We pause the video frequently to figure out the valuation, discuss who would or wouldn’t invest and why. As more information becomes available we pause again to see if anyone would change their mind. Doing this has encouraged a deeper level of business thinking that previously wasn’t top of mind. Now when we are talking about profit margins, revenue and other important KPI’s, there is less resistance to the importance of why those matter in our day-to-day operations and more so how what they do can impact the results.
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