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The Shark Tank Formula for Entrepreneurial Success

Have you watched the show Shark Tank? This is a show where new and aspiring entrepreneurs present their ideas to the sharks – five business titans who made their own dreams a reality and turned their ideas into lucrative empires. The contestants of the show try to convince any one of the sharks to invest money in their idea. When more than one of the sharks decide they want a piece of the action, a bidding war can erupt, driving up the price of the investment. But this only happens sometimes and for a few of them. Entrepreneurs can often face a tough road. For some entrepreneurship can be filled with failure, long hours and a constant need to impress investors. There’s also the ever present temptation to fall back on crowd sourcing websites like Kickstarter. These rigors turn many entrepreneurs away from following through with their business idea. Almost 40 percent of entrepreneurs cite fear of failing as the reason they don’t pursue opportunities. The future sounds bleak for entrepreneurs, but in actuality entrepreneurship is on the rise. The growing ease of information availability exposes people to stories of entrepreneurial success. The television show Shark Tank has helped catapult […]