Shark Tank Vs.

SHARK TANK VS. MR. TOD'S PIES:

Mr.Tod's Pies was a small business company in the fast food industry that sold a number of different pies. Tod came into the Shark Tank asking for $460'000 for 10% of his company from the Sharks, in the end 3 of the sharks were out but the remaining 2 offered him $230'000 each for 25% each of the company. Tod was faced with a major decision, give up half of his company for $460'000, or walk away from the deal. Tod decided to accept the deal which was a great decision on his part.Tod had over valued his company and his intial offer was unrealistic, but in the end he came to realization and did what he had to do for his company.

SHARK TANK VS. IONIC EAR

After Mr. Tod's Pies had came in next came a Business entreprenuer with the idea of an "ionic ear". His idea was basically a bluetooth technology piece that would be surgically implanted into peoples ears. The Sharks laughed and reduculed his idea, and honestly told him that it was not a good and realisitic idea for the present time. The entrepreneur should have been more realistic and probably should have took feedback from more people before going in front of the sharks because if he would have he would have possibly reconsidered the value of his idea.

SHARK TANK VS. WII SPOT

The next idea was a stand that would go into medical rooms for patients that included a number of different portable screens that would allow the patient to read email, search for information, etc. Basically the idea was a convient portable computer screen for patients. The entrepreneur wanted 1.2 million for only 10% of his company which was way over valuing his company. Saying that he wanted 1.2 million for only 10% means that he valued his company at 12 million dollars which was crazy. Also, his idea had many faults, such as email which every patient already had access to via cell phone, and even laptops which many patients tend to bring and use. Overall his idea just wasnt that good and one major thing I learned was to seek feedback from experienced business people before really putting excessive amounts of money into your business. This man had sacrificed everything (his kids college funds, his houses, etc.) and put everything into his idea which is not right. You need to be realisitic about things and get feed back from experienced people who know what they are talking about and also to never put your family at risk.