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Know thy Valuation, more lessons from Shark Tank
Brothers Stuart and David Pikoff were featured in the final segment of the show. Their company is Games2U. As of the time of taping the segment, Games2U was successfully franchised in 28 states. Though it still suffered from business valuation issues due to profitability and sustainability. The Pikoff brothers asked for $500,000 in exchange for a 10% equity in Games2U. This means they were valuing Games2U at $5,000,000. Yes, Five Million Dollars. What justified that … Read entire article »
Filed under: Business Tips
California Contractor’s License Transfer & Sales
Do you need to get a California Contractor’s license transferred to you? If so, then you have a few choices of how to get a contractor’s license into your possession. They all ultimately involve dealing with the Contractor’s State Licensing Board. And well, as you well know, dealing with state licensing boards can be a real hassle and headache. While the Contractor’s State Licensing Board is good at their job, working with them can be a slow, … Read entire article »
Filed under: Business Tips
Shark Tank Week 5 Business Lessons
The week Five Episode of Shark Tank featured more small business lessons. First up was Hot Mama Gowns, which is a line of stylish maternity gowns that can be used Pre and Post Partum, or in plain English, before, during and after childbirth. Hospital Gowns are quite frankly unappealing and this product does fill a good need. Looking presentable, as opposed to be looking ridiculous, is an important part of feeling good, and feeling good is important … Read entire article »
Filed under: Business Tips
Lack of Quality Business Plans on Shark Tank Week Four
The week four episode of ABC’s Shark Tank featured Four key examples of how writing a business plan is incredibly important to showing a business owner a path to success. Do not create a startup business without a business plan, it will lead a higher frequency of mistakes which cost time and money and could ultimately lead to a premature end of a business or product. There are four painful examples of improper business planning yielding … Read entire article »
Filed under: Business Tips
Retail, Branding, Goal Setting on Display Shark Tank Week 3
After having some negotiation blunders and tactics take the headlines from previous episodes of ABC’s Shark Tank, week three’s episode featured lessons on branding, food, and the overall retail industry. Never fear though, negotiation lessons are always on display on the Shark Tank. The first pitch came from Darryl and Randy Lenz who were there to pitch there Ride On Carry On product. Their product is essentially a strap on child seat, which straps onto luggage. … Read entire article »
Filed under: Business Tips
Small Business Lessons from ABC’s Shark Tank
From the week two episode of ABC’s Shark Tank There were four main themes: negotiation techniques, valuation realities, knowing your which business your business should be in, and being the right pitchman for your business. First up was Kiersten Hathcock of Mod Mom Furniture. Hathcock came to pitch her business and raise capital to expand her product line from just Eco Friendly Modern Toy Boxes to a full children’s furniture line. There were a few lessons … Read entire article »
Filed under: Business Tips, Uncategorized
More Business Lessons from Shark Tank
Onto the quote-unquote week one episode of the Shark Tank, which is the second episode since the show emerged for a second season. This episode, like all of the episodes, contained a lot of small business lessons that are valuable to have on a life’s journey of entrepreneurship. Lesson #1: Negotiation Snafu: Giving Away Leverage First up was Nikki Pope of Toygaroo. Toygaroo is a great concept of a membership in a rental toys plan. Toys were … Read entire article »
Filed under: Business Tips, Negotiation
Business Lessons from ABC’s Shark Tank
There are many lessons to be learned from the participants, both the Sharks and the people pitching their business, of the television show called Shark Tank which is currently airing on ABC. Both the Sharks and the business people pitching their business offer valuable insights. Let’s start with the ‘Preview Episode’ that aired on March 20, 2011 and repeated on August 5, 2011. The final segment was James Martin of Copa Di Vino. James Martin runs … Read entire article »
Filed under: Business Tips
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