Over the course of many weeks as we filmed Shark Tank Australia we sharks waited patiently for the large doors to open and a ‘pitch’ to commence… Until that moment we had no idea who or what would be presented. I kept notes of each of the pitches and I thought I would share them now that the series is on air. (I also to a photo on set of each of the pitch set’s – as you can see often the actual products would be hidden too)
To see how each of the pitches turns out go to Ten Play
Cricket Cooler – young guys Adam and Leigh with a passion for beach cricket invented a cooler with a cricket set incorporated into it. These inventors have a background in sales, young passionate and they are deeply excited by the possibility of what their product can do not just in Australia but for every cricket loving nation on the planet. However not working full time in the business could be a massive limitation for the sharks. I could see the possibility with the product. They have passion, they are positive, they have been committed for more than six years so they are persistent…. and they have a deep sense of purpose (which is what I came to Shark Tank looking for) – but at this stage it is at it’s early stages with no real company logistics behind it… but that is why they have come to the show. I wondered if I could assist – I do like the idea of families and friends playing cricket more. The other Sharks were out…. what to do.
Rent resume corporation – Darren had an idea – but I don’t know if he has the customers worked out – he believes that renters will build their online rental resume so when they go for an open house they just give the unique number to their online resume for the property manager to review. But how would the property manager verify the information was in fact correct. And would someone pay more than $200 a year for the service and how does it differ from the current online applications systems. He has added ‘member benefits’ from the Ambassador discount card to encourage people to signup, but then half way through his pitch there was a massive change of direction. He was not talking about Australia but he wanted investment to assist open up the US market. Alas he did not have the product for us to see.
Case boards – Is it possible that electric skateboards could become a mode of transport? What if you could fold one into a ‘case’ so that you could carry it on public transport or store it in the office. This is a fantastic invention presented by a humble inventor (who had been a chef – and had his own restaurant – with a team of 30 so he had a strong background in running a business) – The question became what value could any of us add to him. He had a realistic valuation and knew the market potential. (And it’s available at RedBalloon)
HamDog – a cross between a hamburger and a hot dog in one patented shaped bun. Perfect for all those people who cannot make a choice about what they want – they can have both at the same time. This was a licensing opportunity the entrepreneur did not want to actually make them or go head to head with the big chains he wanted to be introduced to the large chains so that he could license the idea. Four of us looked at him incredulously – but that did not mean that there was not an opportunity in it… (If you watched the show you will know why there is no website for this great Aussie invention).
As you can probably tell if you watched the episode – there are plenty of laughs on set – but also plenty of great business advice. One of the analysts who worked on the program mentioned that if someone was to put all our advice in a series of clips – it would make an amazing online business education. And that was our intention as Sharks, that everyone watches, learns and is also perhaps a little entertained too. But business is business an each presentation is reviewed on it’s merit alone.