Shark Tan Feature: Kevin O'Leary-ISM

For those that haven't noticed, I love Shark Tank! These Sharks depict the real dog-eat-dog world that these business moguls have struggled and survived, and ultimately came out as the Top Dogs.

By far, my favorite quotes have been coming from Kevin O'Leary, a self-made entrepreneur who sold his business to Mattel for $3.7 billion.

1. Let me tell you something. If you were in one of my business school classes, I would spray you down with water and every time you say "I don't know." I'd hit you with an electric cattle prod. You gotta know this stuff!
2. I'm going to sneeze I'm allergic to bad ideas. 
3. My money has its own soul.
4. Can it make me money? That's all I care about. 
5. I just love my money too much. I'm out.

Someone should make a book from these memorable quotes!

Get in the Shark Tank 2

I've been addicted to Shark Tank. It took me one day to catch up with the current season (they just aired episode 6 on Hulu)! In the latest episode of Shark Tank, 4 of the 5 sharks fought over 1 guy's idea of SweepEasy Broom, basically an improved version of a scraper broom. The product itself is a gold mine. It's simple to understand and use, no need to educate consumers, and the profit margins on these babies are great. True to their names, these sharks were fighting over each other in one of the most heated scenes I've seen yet on this show. At one point, Kevin O'Leary said to Barbara Corcoran that if she messed up his deal, he would "slap her like a baby seal." Interesting choice of words, don't you agree? You can see the action for yourself by clicking here.


As I was watching the show, I became very curious with one thing -- are the deals made on Shark Tank legally binding?

According to Chubbybrain,

The offers are not binding it seems until due diligence occurs. Investing any amount of money with no due diligence would be foolish on the part of an investor no matter how wealthy as they need to understand your company and verify the veracity of your claims (patents, revenues, number of customers, etc).

From an entrepreneur's perspective, a deal is not done until the ink dries on the papers both in real life and on the Shark Tank.

Get in the Shark Tank

I recently discovered a great show for entrepreneurs who want to see how to negotiate with investors -- angels, VC, or in this case, sharks.

Some of the presentations are very interesting. I was very moved by a full-time mom who started her business in her garage. She began her business after her husband was fired from his job and she had to find some ways to make ends meet. Her company, Mod Mom Furniture , creates eco-friendly toy boxes with a pretty lucrative profit margin.

After doing some researches, it turns out that after the episode aired, many people besides Robert Herjavec contributed to her success. Check out her own blog post about her experience on Shark Tank!