Today is Monday, December 11, 2017, 7:08 am, PST.

10 LIFE (AND SURVIVAL) LESSONS from “Shark Tank”

We all know Shark Tank, right? ABC’s popular TV show that features 5 “filthy rich” and famous investors (like Mark Cuban, billionaire owner of the Dallas Mavericks, for one) who appraise a parade of entrepreneur business owners striding to the stage, dreams in hand, willing to do almost anything to get the “sharks” to invest and “bite?”

Huge busted women (Yes, she got the money), desperate inventors, company owners with clever products ripe for the picking by the shrewd, discriminating and voracious sharks, pitch their wares in a variety of entertaining and fascinating ways. You just KNOW they spent days and nights for upteem MONTHS preparing for this once-in-a-lifetime, DEAL-of-a-lifetime.

If you watch carefully, you may ascertain some valuable insights into how to succeed in these economically challenging times.

I Was Blind But Now I See By James Altucher

I Was Blind But Now I See By James Altucher

Below, 10 lessons for the aspiring business person, or for anyone who just wants a better life, as proposed by James Altucher, noted author. Note: We interpret and rewrite his ideas as we see them.

Mr. Altucher is author of “I Was Blind and Now I See,” amongst many other books. Quite the title, wouldn’t you say? He sells this one as a Kindle book for under $1.

We ALSO offer our own matching SATTV Survive and Thrive WOWs (words of wisdom) that WE garnered from the show, below each of our interpretations.

From James, as we see what he proposed:

1. KNOW the Math.
When you go up to the sharks, give them the complete story. That shows you’re on the ball. Say, “My name is so and so and I’m asking for of $100,000 for 10% of the business. That means I value my company at 1 million dollars. The sharks will appreciate your candor and consideration. The sharks LOVE a guy that does the math.
SATTV SURVIVAL SHORT: Calculate. Don’t let others calculate for you. That means you’ll know what you’re talking about.

2. RECOGNIZE the MEDIUM for what it is.
This is a entertainment TV SHOW. It’s not a charity or investment show. The money is in the VIEWINGS and ADVERTISING. NOT investing in the business folks. (Except, perhaps for the sharks and a few lucky business owners.) That means the sharks may not be exactly who they say they are. And the business people may be fudging on their facts and figures, too. Take it all with a grains of salt. Or two. And that includes other media such as Youtube, news shows and websites, books and press releases.
SATTV SURVIVAL SHORT: Don’t just look at something for WHAT it is. Observe WHERE it is, and in what CONTEXT.

3. SELL the dream, not the product or sales.
People want to know the possibilities. The vision. They want to know you’re excited about it; driven by it.
SATTV SURVIVAL SHORT: People hope upon and live for dreams. Not for facts and figures. Dreams inspire. Facts and figures perspire.

4. STOP sweating the small change, nickel and diming.
If these sharks offer you a deal for a higher percentage, a little less money, take it. OR:

COME BACK with a smart counter offer. As James calls it, Instead of nickel and dime, nickel PLUS dime. What does that mean? It means negotiating smartly. James: “Get value out of every deal aside from the money.” Extract a promise from them to promote you with their network, provide precious distributors, deals with connections. INFINITELY more valuable.
SATTV SURVIVAL SHORT: Know what the other guy has to offer and how to negotiate for it.

5. DON’T get caught in the “Hail Mary” deal.
That’s when the last shark has you by the shorts. All the other sharks have opted out and the last shark standing makes you a painful offer. Usually that last shark is Kevin O’Leary. This is his signature ploy – to grab your goods and your company for a song and a dance. You want the sharks to compete for you, to stay in the game. So, fight for them. Keep as many interested as possible.
SATTV SURVIVAL SHORT: Try not to settle for less. Settle for more. Keep the ball rolling, the game going in negotiation.

The Amazing Kevin O'Leary - He drives folks mad, ever irascible and feisty.

The Amazing Kevin O’Leary – He drives folks mad, ever irascible and feisty. He can also be somber, considerate and quite generous with time and advice. Photo Credit: ABC

6. BE the source.
Be the authority, the one with information, the one who controls the other guys in the deal. Kevin O’Leary is the expert at this; he interprets the other offers by the other sharks for the business owner and helps “define” the deals, weighing options, extracting the pluses and minues and so forth. He becomes the source, the fountain of information from which springs all-knowing knowledge and acumen. That means he has a better chance of getting you to go with HIM, and for him to get the deal he wants with YOU.
SATTV SURVIVAL SHORT: Be the authority. That also means, be dang GOOD at something. Those in control know how to weigh the options for others.

7. THERE Ain’t No Deal Till the Money’s In the Hand.
Just because you choose the investor and you all shake hands with broad smiles, poopla and joyous comraderie, there’s no deal just yet. Instead, now comes the hard work. The legalities, the vesting, buyer or seller’s remorse, the final negotiations and the devil-in-the-detail details.
SATTV SURVIVAL SHORT: The bird in the hand is the only proof in the pudding.

8. KNOW who you are and what you are doing.
As the sharks say, they want to do business with someone whose a top expert, the best expert not only in their own product, but in themselves; who they are, what they are good at, what they can (and will) do. Be an expert in yourself. Each of the sharks know exactly what they are good at. They know themselves. They can join up with other sharks when the need arises. They know exactly what they can and cannot do, what they are good at. The shakrs are experts in WHO they are.
SATTV SURVIVAL SHORT: Know Thyself. (Taken from Shakespeare)

9. GET (and ACCEPT) advice.
Even if you have a terrible product, or the sharks don’t like you, accept their advice. Most likely, they know alot more than you do. You may be the expert of your business, your product, yourself, but these sharks are experts at making money. And THAT’S why you are there, right?
SATTV SURVIVAL SHORT: Be humble. (Taken from the Bible)

10. As James said, “Who Cares?”
You just got to pitch your product in front of hundreds of thousands plus all those who are going to watch and buy all those reruns. Possibly millions. Do you know how much that kind of publicity costs? Maybe a MILLION bucks. So you just got a million dollar advertising for almost free and incredible advice from some of the most successful business people on Earth.
SATTV SURVIVAL SHORT: Be grateful. Know when the heck you have a golden goose, a diamond in the rough, a huge benefit.

And of course, Number 11, our exclusive advice…
You can watch this show and observe the difference between winners and losers and get a running tally from the best and the brightest. For FREE.
SATTV SURVIVAL SHORT: Use your advantages. They’re all over the place, and they’re for FREE.

Watch the Sharks Offer Great Advice (Turn volume UP, a little hard to hear)


Kevin O’Leary’s Secrets of Success


Source: http://www.jamesaltucher.com/2012/02/ten-lessons-i-learned-from-shark-tank/



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