On Shark Tank the viewers watch for signs on how to get an investor. Focusing heavily on the process, this includes watching how other entrepreneurs looking for investors are quizzed about products and services. Also, dissecting what The Sharks are looking for helps understand how investors think. This is especially true if different investors decide to get on the investment action. One common theme The Sharks seem to focus on is the demonstrable success of an idea.
With all the personality types on Shark Tank, fans might be surprised that each individual wants to see demonstrable success. This is a universal requirement for anyone who thinks about investing in a company.
What is demonstrable success to an investor?
Every pitch or proposal has elements of demonstrable success to a certain degree. It’s the proven demand for a product. It could be receipts from former orders. Or it could be future orders ready to fulfill. Every chance to show how the investor will be seeing the product or service engage with consumers is a demonstrable success.
Watching Shark Tank, fans will notice that The Sharks actually go a step further. They look for increased successes. They want proven focus from the contestants. Plus, when you watch week after week, you will notice those entrepreneurs offer up this information before being asked. Signaling that they know how important demonstrable success is for the future of the business looking for funding. Without it, the investor is taking a dramatically higher risk not knowing whether or not your company will prove successful.
Tell your success before investors ask
When organizing your pitches, talk about your success first. Your dreams for the company might not be as compelling as the 5,000 people who purchased your product. Create interest in your opportunity. Start sharing some of your exciting news. Your enthusiasm is contagious. It could spread to an investor that would have typically overlooked your idea otherwise.
Entrepreneur Tip: Cater to investors by sharing successes before they ask you. Prior, current and future purchase orders will always raise eyebrows in a positive manner. Be honest about where you are, and also where you hope to go next.