Julia Fourie | Business Coach Cape Town
Top 5 Shark Tank Business Pitches You Can Learn From
Julia Fourie, Life Coach, Cape Town
November 03 2020
A successful pitch involves sharing a meaningful story. People respond positively to a story as opposed to a straightforward explanation with only figures and numbers. Storytelling is something that gives meaning into your message and emotional power behind your business. Here are some of my top 5 Shark Tank pitches where the founder brought in their personal story which eventually leads to investments being made.
As you watch them, think about what you like and the reactions of the investors. After you’ve formed your own opinion, think how you’d incorporate that into your pitch. The following questions might help:
- What makes their pitch stand out?
- Do they use visuals? Are they well used?
- Is their message clear?
- Does the team seem knowledgeable?
- Have they done their research?
- Do they clearly explain why their product solves peoples problems?
- Does the team portray confidence?
Emazing Lights: With only a hundred dollars and a dream, Brian Lim launched a business from the trunk of his car destined to become a multimillion-dollar empire. Find out what happens here.
Beer Blizzard: Beer Blizzard combats the heat by keeping beverages cool with one simple “ice cube.” The founders explained that with an insulator and Beer Blizzard, a can of beer or soda can stay cold for 21 minutes. Find out what happens here.
Under The Weather: An emotional story of loss turns into motivation and drive to create a multi-million dollar business. This entrepreneur ensures you are covered, no matter where you go. Find out what happens here.
Dart Drones: DartDrones is the only national drone training school in the US. They offer custom-tailored courses whether you’re a drone entrepreneur or just a recreational user flying for fun. Abby Speicher has come to seek a $300,000 investment in exchange for 10% of DartDrones. Find out what happens here.
Brightwheel: Brightwheel is the childcare management app that allows childcare providers to manage their business while sending parents updates on their children throughout the day. Find out what happens here.
Here are the ingredients why the example pitches got funded:
Problem: Identify the problem briefly. Give some background and compelling reasons why it is worth the headache you believe it to be.
Solution: Describe your solution by explaining and showing how your product solves the problem that you previously stated.
Target market: Define who is going to benefit from your solution and give some background on your target market.
Business model – explain how your business will make money.
Competition: Explain why your product is a better solution compared to other similar ones on the market.
Team: Talk about who is building the business and what role they play in growing your business.
Milestones: Briefly talk about how you plan on executing your short, medium and long term KPI’s.