In the past few years, Shark Tank has quickly become one of the most popular shows on TV. I think this represents a silent wave of entrepreneurship that is spreading across the nation. For the first time ever, people from all over the world are inspired to start businesses as they watch real-world entrepreneurs and sharks come together to create world-changing businesses. Here are a few things I have learned from The Sharks:
1) Mark Cuban - Bet on the jockey, not the horse. Invest in smart people that you don't have to manage.
2) Daymond John - Create a positive buzz around your brand. The right endorsement can easily take you from selling shirts in your garage to $6 billion in revenue.
3) Kevin Oleary (aka Mr. Wonderful) - Face the brutal facts and work smart. Licensing and royalty deals are great examples of working smarter rather than harder.
4) Lori Greiner - When looking at an idea or an opportunity, go for the hero and don't waste time on the zeros.
5) Robert Herjavec - Show people that you believe in them, and they will believe in themselves.
Shark Tank is showing the world that anyone can be an entrepreneur. Just remember that if you are planning to raise capital, you need to be able to articulate your business plan and justify your valuation. If not, the Shark might smell blood in the water.