If you saw the program you will see clearly how much fun it was to make – I know I say it every week but the diversity of ideas is amazing. I’m sure you too can see the difference in the effectiveness of the pitches – sometimes we just could not quite ‘get’ it. Other times the inventor had us at the first sentence.
Scrubba Wash Bag – light and effective a way to wash a few small clothes in a bag – the secret is the bumps inside the bag which act as a ‘wash board’. Well packaged, small, light, memorable, great name and a business making profit. Already an Australian export – I saw synergies with Hegs. A fantastic feeding frenzy between the Sharks – As Andrew said “There was blood in the water”.
K-Lite – Kerry was pretty clear that his invention was ‘plug and play and on your way’ but that did not in fact tell me what the product was – nor its market potential. Using some existing components and 3d printing he has created a device to charge mobile phones and a bright light that does not need batteries. Suitable for people on long bike journeys where weight is important. Enthusiasm alone does not a business make. I pointed out that he was much more than a bike mechanic he is an inventor… but to create a business it is 1% idea and 99% execution.
– When we arrived on set for this pitch there was steam bubbling across the floor – the lighting had changed and there was an actor sitting in a wheel chair rocking herself slowly. Jane and Kay came out and invited us to invest in their haunted house attraction on the Gold Coast. Then the real games began. As soon as their pitch finished John and I found ourselves set upon by a chainsaw wielding mad man. I tried to shield myself with my tablet as I jumped out of my chair – ready to dash to safety. The theatrics fantastic – but the business to early as they had not secured a permanent location.
Bottlepops – Fun, colourful and a profitable business. Already located in more than 650 retail outlets… priced at $14.95 these bottle openers are great fun. Each of us had a great giggle with the sample that we were given. The two passionate founders who had both represented Australia in volleyball were inspired by something they had seen in Japan. These guys clearly had a big vision and were going to enjoy the journey. They were looking for the Sharks to help them take this product to the USA. They mention it makes a great lift – so we have packaged up some selections at RedBalloon – take a look.
Two out of four invested – these are pretty good odds. Always it comes back to “can I work with this person?” John said it all when he said to one of the inventors “you are both the asset and the liability to the business – but one thing I know is that if we were to go into business together we would probably ‘kill’ each other” – choosing the right business partner or investor is essential for any business to maximize the opportunities it has available to it.
See you next week..
The look on your face Naomi to the "Darling" comments, was quite entertaining, it was a great show last night and some innovative ideas. When you are dealing with low profit items such as Bottle pops is their any particular strategy you use to make your decision.