Recently one of our Client Managers, Jessica Vann went down to Orange County for a conference called “Shark Tank Boot Camp.” The goal of “Shark Tank Boot Camp” is to provide inventors and entrepreneurs a “behind the scenes” look at Shark Tank; where one will hear a panel discussion with alumni from the show along with individual presentations on what worked, what didn’t work, ideas of how to get on the show and getting picked, plus presentations on guerilla marketing, social media and working with blogs.Guerilla marketing is an advertising strategy that incorporates low cost unconventional systems of promotions that are unexpected and are interactive that target consumers in unexpected places. For example flash mobs, fake PR stunts, sending your product to a company every day, etc. A prime example was from one of the contestants Michelle Kaputka with her product Send a Ball. She sent a ball to the Oprah show every day until finally she got asked to do a segment on Oprah’s Mom Entrepreneurs show. Guerilla marketing doesn’t cost a lot of money, but it does take time and creativeness.Everyone is familiar with social media, who doesn’t have a Facebook page, Twitter, Google +, etc. but do you have one for your business? Majority of business do not and some of the presenters at the show, says every business should have one. It is the best way to reach your consumers, gain new customers and stay up to date. It is a great way to test new products with your customers as well as get feedback from the people who buy your product.During the presentations, Jessica found out that to be successful on the show as well as getting picked for the show, you need to have the 3P’s; which are personality, pitch and presentation.
3Ps to Follow for Success on the Shark Tank Show
- Pitch
- Your pitch must be clear, articulate and concise. It needs to include the following points:
- Explain the problem(s) you are solving.
- What does your company offer and how it differs from your competitors?
- What are your accomplishments to date?
- Present & understand your numbers (revenue, expenses, sales, statement of cash flow, growth, forecast, etc.)
- Your pitch must be clear, articulate and concise. It needs to include the following points:
- Personality
- It plays an important part when presenting your invention/business to potential investors and lets them see your personality. Things to consider:
- Demonstrate to the investors that you have what it takes to go through all the ups & downs and still come out on top.
- Communicate your enthusiasm and knowledge of your product & market.
- The Sharks invest not only in a business, but in an individual inventor/entrepreneur. You need to convince them you are the best person for the job.
- It plays an important part when presenting your invention/business to potential investors and lets them see your personality. Things to consider:
- Presentation
- Visualize & conceptualize of your idea with presentation materials (presentation boards, products or prototypes, PowerPoint presentation etc.) helps the investors understand your product/business. Try to:
- Make it as professional as you can.
- Make sure you explain your product or service and how it will be used.
- Use language that is suitable to your audience, don’t make it too technical.
- Point out your uniqueness.
- Visualize & conceptualize of your idea with presentation materials (presentation boards, products or prototypes, PowerPoint presentation etc.) helps the investors understand your product/business. Try to:
How Innovate Can Help
At Innovate we can help with the pitch and presentation material. Our presentation material showcases your product or concept in a clear and concise manner. We create a 3D CAD that presents your concept in a photorealistic setting. We typically prepare three boards. The first one is a beauty shot of your product showing it in context. The second board goes into the finer detail of your product and the third board is a storyboard that shows how to use your product step-by-step. The first board, the beauty shot board, will state the background, the problem and the solution, which you can then use in your pitch to the investors.Should you like help in this area, please feel free to reach out to us though phone 415-970-5276 or email info@innovate-design.com. We look forward to helping your new product idea become a reality.