It’s been almost a month since Shark Tank India ended, but we still can’t get over it, excitingly yearning for season 2. Till it arrives, we still rewatch the glimpse of the shark tank for the valuable pointers to note from it.
The popular American Television Series Shark Tank franchise managed to grab eyeballs and has become the talk of the town. Potential investors, sharks, entrepreneurs, and their unique offers are trending content on social media with lots of memes and countless fans. ‘Arre Bhai Tu kya Kar Raha hai’ and ‘Yeh Meri Expertise Nahi Hai so I am out’ have become common memes. Along with being an interesting and entertaining show, there are multiple lessons from the show to learn.
So, let’s tell you about the Top 8 entrepreneurship lessons to learn from Shark Tank India.
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Success comes from true passion
If we look at the majority of the entrepreneurs who came to Shark Tank, all of them were passionate about their work. Although many had different jobs and educational backgrounds, their passion was reflected in their products and unique business concepts.
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It is essential to have clarity
Everyone wants success, but a lack of clarity can hinder it. Pick the best products and businesses on Shark Tank; the investors always ask questions about their vision and mission. Among them, the ones who were clear about their company’s products and vision managed to convince them.
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Research is the Key
The sharks always tried to ask entrepreneurs questions about their industry and market trends. We found that the entrepreneurs who were more informed about the status and details of their industry better developed their businesses, and the ones who lacked research were asked to leave.
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Investors invest in an entrepreneur and their capability and not in company profits
The investors were looking to invest in an entrepreneur who is passionate, clear, knowledgeable, and dedicated to their work. The Sharks were more impressed with entrepreneurs than their company or products. We have often heard them say, ‘We are investing in you, not your products or company. ‘
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You don’t always need expensive resources to make the best products
One of the most popular entrepreneurs on the show was Jugaadu Kamlesh, who built a unique design product using limited resources. You can always begin with simple resources and effective ideas, and things will improve along the way.
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You need to be consistent in your efforts
The most successful people in life are the ones who have managed to be consistent with their ideas, even if they take years to complete. Many entrepreneurs in the field consistently worked on their products for 5-10 years; even Jugaadu Kamlesh took 7 years to shape his idea. It is all about being dedicated, and your efforts will pay off.
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You need to have confidence in yourself for others to trust in yourself
Another thing that we noticed in Shark Tank was that investors did not invest in entrepreneurs with alternative jobs. They often asked the entrepreneurs about their work background and doubted the confidence of those working elsewhere simultaneously. You need to trust and have confidence before you want others to trust.
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Take feedback seriously
You need to contact change and grow your business for success. One needs to take feedback seriously and try to work on it. The investors gave Every entrepreneur feedback that made them realize their shortcomings. So, any feedback from the superiors should be incorporated into the business for further success.
In the comments section below, let us know what you learned from the shark tank.