Saturday, December 7, 2013

Shark Tank 12-6-13 (@ABCSharkTank)

Anyone watch shark tank last night, well I did and as usual it was very informative but what caught my eye on last night episode was these two mothers who came up with idea for children safety helmets. What the women did was made this fun and funny looking Velcro foam designs that you could put on your child's safety helmet to make them want to wear their safety helmets while riding their bike, or skate boarding or just skating. These foams I must say were very perculur looking and the foam design was just throwing me off. What the sharks ask these women were the usual questions, do you have the product out in stores already, how much money have you made, and what makes your design different from anyone else. Now I have seen something similar to what they were pitching and this is on the actual helmets for grown ups who ride motorcycles or bicycles, so I was too curious what would make their different. One woman said her child came up with the idea when they would go bike riding and her younger son complained about wearing a helmet. So her daughter took paper and made a design and glue it on to her brothers helmet and he loved it, now for me what came to mind was her daughter seen this different designs as other people on motorcyclist and thought it was a good idea because she probably notice her brother admiring it. One of the mother said they were targeting five to ten years old, so I guess because of this she figure they would have their own age group to sell to. Now all the sharks ended up turning these women down but not before these women were begging and disagreeing with their judgment, saying that they would have a large group to sell too. But I could understand what the sharks were saying to the women and this is that this idea was already out there and similar product is being made and that the competition would be too stiff because this particular product can be produced and is already being produce and is being sold in many bike shops. One of the woman was in tears and I almost felt bad for her but neither women was really listening to what the sharks had to say and why in would not benefit them to invest in their product and they had to practically tell the women to just walk away. These women when exiting was saying it was hard for them to understand that the sharks was not as hype as they were about something they put their hearts into. People have to remember that when you enter into the shark tank room, you are entering to sale a product that you have put your tears and blood into again your blood and tears not theirs, so they may not feel as heartfelt as you do about the product and you have to go into the shark tank room with all the confidence but not expecting anything. If you expect them to love your product as much as you do, you may get the biggest let down and you have to remember that just because the sharks turn you down does not mean that you have to stop believing in your dream.

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