Sharks are cold, cunning and brusque.
They put it that way. They are not afraid to let an entrepreneur know that their idea is bad, even terrible. They're in it for the money and the money alone.
Or at least that's what they make viewers think.
Last year – the ninth season of the reality show Emmy-winning commercial – Sharks witnessed most emotional Shark Aquarium moment ever story. "In the nine years I've been on the show, I've never been so emotional," says investor Barbara Corcoran. “He took my breath away.
Corcoran, a real estate mogul and the shark most likely to be bled for R-rated language, refers to an October 2017 episode featuring Robbie Cabral, the inventor of BenjiLock, a padlock that opens with the push of a finger and runs for a whole year on a single charge.
Cabral immigrated to the United States from the Dominican Republic and went through some tough times. He wept as he spoke of being fired the same day his third child was born. The emotion at the Sharks was palpable.
Competition for his product was fierce. Kevin O'Leary, facetiously known as "Mr. Wonderful,” was the first Shark, and he offered a direct licensing deal. Shark Lori Greiner, the “Queen of QVC,” also made an offer. Shark, guest Alex Rodriguez, a former New York Yankees third baseman, then spoke to Cabral in Spanish about the struggles of his own Dominican-born parents. Rodriguez suggested a partnership with Corcoran.
“I almost had a heart attack waiting to see who [Cabral] would choose,” Corcoran says. She was not alone. On the Sony soundstage in Culver City, California, the crew and guests all held their breath. Cabral, his voice shaking, said he was humbled by all the offers and had to go with his heart.
He gasped when he announced his choice:O'Leary, widely recognized as the shark the coldest, or a cockroach, as investor Mark Cuban calls it. time , he received a $100,000 royalty check from the CEO of Hampton Products, a leader in the security industry.
JEFF KATZ
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It's that kind drama, heart and sometimes heartache that gave Shark Aquarium its amazing longevity. Executive produced by Mark Burnett, Clay Newbill, Yun Lingner and Phil Gurin, the ABC show, where entrepreneurs pitch their ideas to a panel of investors, has won four consecutive Emmy Awards for Outstanding Structured Reality Program. The show, produced by MGM Television and Sony Pictures Television, will mark its 200th episode when it begins its 10th season this fall. It's a special feat, even for generation-defining television. Consider that Seinfeld ran for 180 episodes, while The Office ended its run with its 201st episode.
“When we started Shark Aquarium in August 2009, the economy was in dire straits,” says Holly Jacobs, Sony Pictures Television’s executive vice president for reality and syndication programming. “People couldn't get bank loans. Then this show hit the landscape and became a place where everyday Americans were lucky enough to have a shark invest in their dream. »
Over the years, approximately 1,500 pitches have been heard and $116 million has been offered in the Tank. "It's one of the few shows that has influenced and touched people's lives far beyond the screen," says Rob Mills, senior vice president of alternative series, specials and late night shows at ABC. Entertainment. “Products that were showcased at the show are represented in supermarkets, department stores and national chains across the country. There aren't many TV shows that can boast the same results. The majority of the show's audience, Jacobs says, is made up of families watching together. “A lot of those kids who grew up on the show have now become entrepreneurs,” says Jacobs. “We like to think that Silicon Valley is filled with tons of former kids who grew up Shark Aquarium . ”
Viewership has also become more savvy over the years. The show's producers noted that audiences are more informed and more demanding each year. Executive producer Clay Newbill says the show has given viewers what he calls “a Shark Aquarium MBA. “In the early seasons, we avoided deals and discussions that were too complicated,” says Newbill. "But over the years we've made it possible to include so much more. Our audience now understands how a royalty agreement works, what advisory actions are, and other complex business terms and strategies. And now universities – including Harvard – high schools, colleges and even elementary schools are incorporating Shark Aquarium in their program. »
Shark Aquarium has helped people across the country redefine success and witness the myriad forms it can take.
Investor Robert Herjavec, who created one of the world's largest cybersecurity companies in world, learned the nuances of success at a young age. He recalls a conversation he had with his father when he was 18 and living in the former Yugoslavia. When he told his dad he wanted to start a business, his dad brought home a colleague to offer advice.
“This show hit the landscape and became a place where everyday Americans were lucky enough to have a shark invest in their dream. »
"I asked, 'Why am I talking to this guy? And my dad said, 'You idiot! “He had more seniority in the union than anyone. For my father, he was the most successful person we knew. The Great Thing About Shark Aquarium , Says Herjavec, “if we come to your house every Sunday to show you that there is no color, race, gender or size to succeed. The American dream is accessible to everyone. ”
JEFF KATZ
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The Sharks have grown with their viewers and contractors over the past decade. Following in Cuban's footsteps, Herjavec and Corcoran pushed themselves out of their comfort zone and appeared on Dancing With The Stars . And although none of the three came close to winning the Mirrorball Trophy, Herjavec fell in love and married his dance partner, Kym Johnson (now Kym Herjavec).
Daymond John, founder of FUBU clothing and expert in brand image, has become more invested in the causes he supports in his personal life. He sits on the board of the Petco Foundation and “tries to do my best to save our little furry friends.” After being diagnosed with stage 2 thyroid cancer in early 2017, he stressed the importance of screening tests and early detection. John is now in remission. "If I can save one person's life because they go to the doctor and get a mammogram, pap smear, endoscopy, whatever, that's my new goal," he says. br />Meanwhile, Cuban, the billionaire owner of the NBA's Dallas Mavericks, loaned the team's private jet to fly supplies to Puerto Rico after Hurricane Maria hit, and he hints at a possible presidential race in 2020. He has been quoted in various news sources saying that if he can find solutions to some of our country's biggest problems, it would make perfect sense for him to run for office, and he does. would.
The Sharks haven't slowed down their own businesses either. O'Leary, a man who appreciates the finer things in life himself, launched his own wine brand in 2015.
And Greiner, an inveterate inventor, co-designed most of the clothes we 'she wears Shark Aquarium this season. "I'm not saying I hated every outfit I wore in previous seasons, but I'm a little more edgy in the way I dress," she says. Greiner says she doesn't have anything concrete to share yet, but with fans constantly asking her where she bought her outfits, it wouldn't be surprising if she brought her designs to market soon.
Some Elements of a Good Shark Aquarium are long-lasting, like a passionate entrepreneur and a clear vision. But listening to hundreds of locations over the past nine years, coupled with a rapidly changing retail landscape, has taught sharks new lessons about what it takes to have a Shark Aquarium hit. All of the Sharks say they have learned countless lessons over the years, from the value of trusting their guts to being open to investing in underdogs.
John says one of the biggest lessons he has learned is the advantage of marking. “It can be beneficial to be a bottom feeder,” he says. “If something happens in tech and I know it's going to go to Mark, Kevin or Robert, I can increase the amount by $100,000 or $200,000. Maybe they'll let me in 5, 7 or 10%. Either way, it's a free ride. ”
And Herjavec learned – like all sharks – that the initial pinnacle of being on the show doesn’t last forever.
“The Shark Aquarium the effect is not permanent,” he says. "That's why I'm only interested in contractors who have some level of operational expertise. Get a big hit after spawning on Shark Tank does not guarantee long-term success. We've had so many investments that are generating so much success and they're moving on to all kinds of other hedging. But they cannot maintain this success. After a while, it all depends on how good your business is. ”
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Here are the lessons learned by the No. 1 Sharks, their best deals and other fun facts from nearly a decade in the tank:
This article originally appeared in the March 2018 issue of SUCCESS magazine.
