The best advice 'Shark Tank' investors have given entrepreneurs
"Shark Tank"/ABC
The reality show “Shark Tank” has been helping entrepreneurs live the American dream since its 2009 debut.
Now in its eighth season, the self-made sharks have invested more than $66 million — as of season six — of their own funds to help entrepreneurs get their businesses off the ground.
Each week, sharks Barbara Corcoran, Mark Cuban, Lori Greiner, Robert Herjavec, Daymond John and Kevin O’Leary convene to receive pitches from the entrepreneurs in need of cash to get their companies off the ground.
Follow along to read the best pieces of advice the sharks gave entrepreneurs during their stint on the three-time Emmy Award-winning show.
"Shark Tank"/ABC1. Focus on profits
“Follow the green, not the dream.”— Mark Cuban
In season four, Erica Cohen and Lori Barbera, owners of Baby’s Badass Burgers food truck, wanted money to open a brick-and-mortar restaurant. Rather than funding the successful food truck’s transition to a traditional eatery, Cuban advised them to keep doing what’s working. Essentially, he believed the hot-pink, gourmet burger food truck was already a recipe for success and that switching up the plan might put a damper on business.
See: 9 Most Successful Shark Tank Businesses
"Shark Tank"/ABC
2. Be accountable for your own success
“A goal without a timeline is just a dream.”— Robert Herjavec
Many “Shark Tank” contestants have been aimlessly working toward their entrepreneurial goals for years. With this piece of advice, Herjavec encouraged them to create a timeline to turn their aspirations into a reality. Attaching specific dates to goals forces them to be accountable and make real progress.
"Shark Tank"/ABC
3. When the going gets tough, don’t give up
“As an entrepreneur, you can always find a solution if you try hard enough.”— Lori Greiner
Starting a company comes with a huge set of challenges, but Greiner advised “Shark Tank” contestants not to give up. As creative thinkers, entrepreneurs simply must devise creative solutions to combat every roadblock in their way. No problem is unsolvable — failure cannot be an option.
See the rest of the story at Business Insider