Business Project about Shark Tank

BUSINESS PROJECT ABOUT SHARK TANK
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(18, December, 2010)
Business Project about Shark Tank
Company History
Shark tank is a small business TV show that caters for those having the desire to start their own business. This show is produced by Mark Burrnet and is just an adaptation of the hit overseas dragons den. Entrepreneurs across the country who are much ambitious have the chance of pitching their business to sharks, who in their respective industrious are titans. In case an entrepreneur has a quality idea, then the sharks invest their own capital in such a business idea.
The Shark Tank is a partnership kind of business, made up of five individuals, namely; Barbara Corcoran, Kevin Harrington, Robert Herjavec, Daymond John and Kevin I’Leary (Belloni, 2009). Each one of them is professional in his own field. There were 20 deals that were made by Sharks with an investment of over $ 4 million in total. By the use of their expertise and contacts, together with their own money, they joined up with enthusiastic entrepreneurs and changed their businesses and products into household names.
Market Analysis
This show targets small businesses which are exploiting in number. It is true to the show that more individuals are employed by small businesses as compared to large businesses. They target those who have the desire of owning their own businesses. There have been lucky entrepreneurs who have survived and made their way after swimming together with the Sharks. There are some companies like pie factories that the business has grown three times after consulting the Sharks. They have opened other new retail locations and sold many pies. With the help of sharks, perfect pear company sales have increased by 1000 percent.
The show is of the highest quality; hence individuals at ABC and Disney love it very much. It holds a feeling of belonging up with dramas that are considered to be the greatest. The contestants seem to be high and dry. Because they have great ideas about small businesses, however, they are not able to put their ideas into action, as they do not have capital. Whilst at a similar time, there are wealthy investors ready to invest. In real sense, this is a golden opportunity for some of these individuals. As an effect one can feel real tension that has filled the air.
There are some lessons learnt from Sharks that are much beneficial to small scale business, and these lessons have helped the company maintain its market share. Furthermore, it has formed a partnership with Netopia, in which the website for Netopia empowers Sharktank.com member attorneys to come up with sites that are highly functional with contents that are in a special way directed towards legal industry, which will neither need any HTM knowledge nor experience. The customized packages of Netopia have also enabled attorney members of Shark Tank .com to come up with online presence in not more than an hour. This provides attorney members with a lot of benefits of increasing their visibility online, while on the other hand, providing critical information for businesses and individual.
The shark Tank.com has also invented a method that enables its clients to link with the attorneys. By the use of Shark Tank.com, individuals or even businesses seeking legal services might post a request anonymously for legal services for free. Attorneys who tend to be interested in the provision of the service respond to the reply with contact information plus their experience (Belloni, 2009). Furthermore, this service stores attorney’s response in confidential mail that the client might access via the website. As a result, Shark Tank.com empowers those in need of legal services, as a result, it eases the normal intimidating and perplexing processes involved in the selection of a lawyer.
The greatest thing about Shark is that, the show gives a quick glimpse into all business concepts, may it be from marketing, operations, capital and even legal concepts. The capitalist ventures of Shartank examines about the entrepreneurs’ various concepts that concerns business in gauging their business interests. These like examinations inquire about sales, operations, profits made and how they make, how they distribute, business legal affairs, or even inquire about marketing. This in real sense provides the audience with a quick overview of the real business field.
This is what other business shows never attempt to do. The competitors usually fail to provide a whole summary of what business as a whole entails. The most successful competitor of Shark tank is the Apprentice, which does not in all cases show much of business concepts except for only marketing. The season that could be termed far much rounded was season one, however, the success of this show, showed up the reality play and branding that is corporate into the plans. This made the scheme challenging the explicitly the tools that are used in marketing.
The show has been using branding strategy to market itself. According to the branding expert, it usually uses the names of celebrities that do excellent work for branding themselves.
Services Offered
Amongst the services offered by Shark Tank show is company valuation. Being the venture capitalists, the Sharks in the Sharkstank, normally knows the procedures of evaluating firms very quickly. Brash O’Leary in most cases uses two times annual sales, as a formula to be used in evaluating companies quickly. Before he got to know about this formula, he used 5 times annual net profit. By surprise the two methods coincide on a single answer. The exception is just that, O’Leary is so first for mathematics on the fly and the sales annual figure is so easier in getting it, other than net profit for other individuals.
The show also provides financial aids to their clients. Since financing is what entrepreneurs are ever asking for, the Shark Tank highlights this theme. The take way lessons shows those seeking finances that financiers never look for empty blue sky dreams. The capitalists ventures of require hard numerals from a track record, so that they can base their decisions on. In addition, they would like to know what entrepreneurs will do with the capital. As financiers, they would never like to see their capital being used for the salaries of the entrepreneur, but they would like knowing that the entrepreneur does have clear and open ideas on what they will spend money on. Sharktank also has repeatedly advised that, entrepreneurs need not to ask for too much, yet they are doing nothing with the little that they have.
Not only do they provide the money. There comes a time when entrepreneurs need oth...