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"Shark Tank"

Postby inventor-x » Sun Jul 12, 2009 2:29 pm

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Hi All

Shark Tank airs August 9th on ABC at 8pm.

You can still submit your Invention to the show.

Links:

abc.go.com/primetime/sharktank/index
http://www.AbsolutelyNew.com
inthesharktank.com

(edit)
EMAIL US AT: SharkTankCasting@yahoo.com
Please include your name, age, contact info, a recent photo, and a brief, NON-CONFIDENTIAL description of your idea.
Good luck.

Detailed Information about the show from the website: inthesharktank.com

At his core, Mark Burnett is an entrepreneur who came to this country from his native U.K. to seek his fortune.

While he’s known for populating TV with reality series, none seem so close to his heart as “Shark Tank,” the ABC project about pitching and selling innovative ideas to investors.

“His is the perfect production company to handle this project, because that’s his spirit and that’s his personality,” says Manatt, Phelps and Phillips attorney Jordan K. Yospe, former general counsel and head of business and legal affair at Mark Burnett Prods. “To take nothing and create something is what Mark is all about.”

ABC tried this theme in 2006-07 with “American Inventor,” but that series never really took flight. The Alphabet is banking on Burnett’s knack for getting viewers invested in the contenders.

“Mark has really figured out a way to play out emotions in his characters,” says ABC’s John Saade, who heads alternative series, specials and latenight programming with Vicki Dummer. ” ‘Survivor’ is a big canvas, but it lives in the close-ups. And that’s where television excels.”

“Shark Tank,” scheduled for a Aug. 9 premiere, is an adaptation of the popular Japanese series “Dragons’ Den,” which then morphed into a U.K. version now currently airing Stateside on BBC America.

What appeals to Burnett in this economic climate is seeing the American spirit coupled with the opportunity of shucking the corporate harness.

“Small businesses are the lifeblood of America, and right now people can barely get a mortgage, much less a small business loan,” Burnett says. “Here’s the ultimate opportunity to pitch wealthy investors (and get them) to part with their own money. We don’t use TV money. This is real money from the investors.”

London-born Burnett has a hardscrabble story made for Hollywood, building himself into the king of reality programming from working-class beginnings. He has been on both sides of the pitch table and believes the drama comes from people risking everything, not just the actual setup of pitching a product and picking a winner.

Each week of “Shark Tank” will be a closed-end episode where all, few or none of the contestants will sell their notions.

“This is a multifaceted drama about people putting everything on the line — their houses, their children’s college accounts — to fulfill a dream,” Burnett says. “It can be harsh when the investors say they don’t believe in your dream or thrilling when the sharks want your idea and will go up against each other to get it.”

ABC is set to premier Mark Burnett’s Shark Tank August 9th at 9pm, following the return of Who Wants to Be a Millionaire. (Coincidence I think not!) Episodes will continue on Sundays at 9 through August 23, after which it will shift to its regular time period of Tuesdays at 8 starting August 25.

Shark Tank is a new reality show where entrepreneurs must try to convince five multi-millionaire business tycoons to part with their own hard-earned cash and give them the funding they need to jumpstart their business’s. Each week, ambitious entrepreneurs from across the country will present their breakthrough business concepts, products, properties and services to the panel of ruthless investors. Their goal is to convince these merciless moguls to invest their own dollars in the concept. Convincing real-life millionaires to part with their own money is no easy task, because when the idea is poor, the Sharks will tear into the ill-prepared presenters and pass on the idea with a simple, “I’m out!,” sending them running for the exit. Entrepreneurs will be asked to give up a percentage of their companies’ equity to the Sharks in order to get the investment they need.

Casting is still ongoing, so if you think you have what it takes to swim with the sharks then email SharkTankCasting@yahoo.com with your name, age, contact info, a recent photo, and a brief, NON-CONFIDENTIAL description of your idea. Tell them In The Shark Tank sent you.

Just one last note, be on the look out for scammers who may be taking advantage of would-be contestants during this casting process. You can never be too careful.

Additional Information:

This is just a reminder that the first of four open casting calls for ABC’s Shark Tank will be taking place today (Saturday June 6th) in Los Angeles. Auditions well be take place at the Sheraton Los Angeles Downtown (map) between 9AM and 4PM make sure you arrive early. You will also need to fill out this application form.

Please be prepared to speak about the following in your casting interview:

1. What’s your name and your business?
2. How much money do you need from investors and why? Be specific. How will it be used?
3. What percentage of your company/idea/product are you willing to give up (e.g., 10%, 40%)?
4. What do you do for a living and where are you from?
5. When did you start inventing or become an aspiring entrepreneur? What influenced this decision?
6. Please describe your product/invention/business idea.
7. Make your pitch!
Examples of interesting information:
• What is it? Is it patented?
• How or why does it work? (Do a demonstration if you can.)
• What’s the market for this and why?
• How did you come up with the idea?
• Why is your idea the next best thing?
8. How much have you invested in your business? What would happen if you can’t get your business off the ground?
9. What does your business mean to you?
10. What is your ultimate goal for your business?
11. What has been your biggest challenge so far?
12. What do your family and/or friends think of your business?

Make sure you tell them that you learned about the casting call from InTheSharkTank.com, and send any pictures or stories about your day to InTheSharkTank@gmail.com or Tweet us at twitter.com/SharkTankABC

Good luck

Best wishes to all that apply :D
Last edited by inventor-x on Tue Mar 26, 2013 3:16 pm, edited 2 times in total.

Re: "Shark Tank" Contest

Postby inventor-x » Tue Jul 14, 2009 10:03 am

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Hi All

I forgot the post the judges Information:

Barbara Corcoran is the popular real estate contributor for the Today Show and CNBC. She writes a weekly real estate column for the Daily News and monthly columns for MORE Magazine and Redbook. Springboard Press released Barbaras second book, Nextville: Amazing Places to Live the Rest of Your Life, last spring, to amazing reviews.

Kevin Harrington is CEO of TVGoods.com, LLC and co-founder of OmniReliant Holdings, Inc., is widely acknowledged as the pioneer and principal architect of the “infomercial” industry.

Robert Herjavec now heads The Herjavec Group, listed as one of Canada’s leading and fastest growing IT security and infrastructure integration firms.

Daymond John is regarded as one of the most sought-after branding experts and keynote speakers in fashion and business today. With multiple business ventures on his resume, John can be seen sharing his knowledge and business genius on numerous business and entertainment television programs.

Kevin O’Leary is a founding investor and director of Stream Global, an international business outsourcing company. Kevin is on the investment committee of Boston’s prestigious 200-year-old Hamilton Trust, and is the Chairman of O’Leary Funds. He also serves on the executive board of The Richard Ivey School of Business.

Re: "Shark Tank" Contest

Postby inventor-x » Mon Jul 27, 2009 12:15 pm

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Hi All

Has anyone entered this contest?

How did the process go for you?

What did you think of Absolutely New?

Re: "Shark Tank" Contest

Postby inventor-x » Fri Jan 08, 2010 8:32 pm

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Hi All

NO Information posted about Shark Tank (2) auditions or that season (2) starts tonight on ABC at 9:00 pm.

Did anyone audition for the show :?:

To bad the Information wasn't posted earlier for people like Jack to audition for the show :(

Re: "Shark Tank" Contest

Postby klikbeep » Sat Jan 09, 2010 12:31 am

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I'm kind of interested in shows like this, but . . . I don't know. Part of me wonders if mixing business and drama like this might make people less likely to keep pounding the pavement. Business is dramatic enough without pumping everyone up for a Weakest Link-style moment.

Re: "Shark Tank" Contest

Postby inventor-x » Tue Jan 12, 2010 1:22 am

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Hi All

If you watch the Shark Tank show you might find this Interesting :?:

ABC-TV Shark Tank Pro Kevin Harrington on innovation

Each month we interview a different expert for their insider’s perspective on innovation. This month: Q&A with Kevin Harrington, the infomercial pioneer who’s worked behind-the-scenes to launch more than 500 inventive products over 25 years—generating more than $4 billion in sales and making dozens of inventors into multi-millionaires. Kevin’s now also one of five on-camera business “sharks” who evaluates (and sometimes invests in) inventions on ABC-TV’s hit reality TV program, The Shark Tank. He’s also a new member of AbsolutelyNew’s board of advisors. Here’s perspective from Kevin:

Q: Inventors approach you daily with new product ideas they want to sell on TV. When this happens, what’s the first thing you do?
Kevin: The first thing I do is ask if the product is manufactured, so that it’s ready to sell. This is a business that’s all about paying the rent, making money, and splitting the profits—so if the product isn’t yet ready, you can’t start making money selling it on television.

Q: And then what?

Kevin: I then ask, “Has it sold successfully before?” You can give me all the details about the product, the market, and the competition, but what I really want to know next is if it’s ever been put to a rubber-meets-the-road test, and if so, what happened. I won’t invest big money before seeing a track record of success.

Q: How is selling on TV different from selling in stores and catalogs?

Kevin: The biggest difference is that, on TV, you have the ability to dramatically present the product in action, including demonstrations so people can better understand the product and how they might use it. Products on store shelves or in catalogs with pictures can’t talk to you the same way. TV is very, very powerful.

Q: What should every inventor know about selling on TV, that your experience indicates most inventors don’t know?

Kevin: Many inventors don’t know how to sell on TV. It’s part art, part science, but there’s a process to it. You really need to know the process. Also, inventors often get caught up in their own thinking or story, and I tell them every time they need to focus on features and benefits—it’s all about the features and benefits when you’re trying to get people to open their wallets and buy.

Q: When we watch Shark Tank on TV, we see maybe 5-10 minutes of back-and-forth between the sharks and each inventor/entrepreneur. Before all the editing, how much time do you really spend with each person appearing on the show?

Kevin: The shortest discussion was about 30 minutes. The longest was probably about an hour and half. A lot of the dialogue ends up on the editing room floor.

Q: On Shark Tank, you appear to invest less often than some of the other sharks? Why is that?

Kevin: It may appear this way, but it’s not true. Of the 122 segments we filmed, only about half have aired on TV so far. I’ve made 11 deals, which I think makes me either #1 or #2 in terms of investment. But the important thing to note is that I’m there to make money on good opportunities, not to make good TV, so I’ll only invest when I think it’s a good investment.

Q: How realistic are the Shark Tank negotiations?

Kevin: They’re dead-on. The show is filmed live without scripts or cue cards. We don’t know what the product is until the inventor tells us about it, so what you’re seeing is our real reactions and real discussions.

Q: Based on your experience working with inventors, how could many of them better prepare to have productive, successful business discussions with you and/or other industry leaders?

Kevin: Practice presenting your invention, and record yourself doing it so you can review it and make improvements. Do this again and again until you feel very comfortable presenting your product and hitting your key talking points. Also, don’t make a personal appeal for money—make a business appeal that will make me want to invest. This should include a good executive summary, relevant information like the size of the market, and to my earlier point, evidence of a successful track record.

Q: Have you ever invented anything, and if so, what?

Kevin: I invented one thing. And it cost me a lot of money because I got too close to it. At the height of the cigar boom, I invented a cigar-shaped lighter. It had a lighter on one end, and a cutter on the other end. It also had a lot of issues with the manufacturing, which became safety issues I had to address. In the end, I got clobbered by that invention.

Q: What’s your favorite invention of all time and why?

Kevin: The Flowbee home haircutting system. It started when a carpenter inventor right off the street—he didn’t look anything like the typical inventor I’d imagined—told me he had been vacuuming sawdust from his hair one day when he thought of adding recessed cutting blades that would cut hair evenly and remove it. He told me he named it the Flowbee because it sounded like a bee buzzing. Everyone laughed at the idea, but we went on to make millions and millions on it everywhere we launched it.

The question that needs to be addressed & answered is how do Inventors get over the CATCH-22 problem of finding Investment Capital to create an Inventory to begin with :?:

Inventors don't need to make millions to be successful with there Inventions & should be satisfied after creating an Inventory knowing there market & product selling anywhere & they break even.

Kevin: I invented one thing. And it cost me a lot of money because I got too close to it. At the height of the cigar boom, I invented a cigar-shaped lighter. It had a lighter on one end, and a cutter on the other end. It also had a lot of issues with the manufacturing, which became safety issues I had to address. In the end, I got clobbered by that invention.


Guys like Kevin amaze me because now that he is wealthy & a Venture Capitalist he has become GREEDY & forgot what it was like to be a struggling Inventor trying to get HELP from anyone or in any avenue.

Robert Herjavec & Barbara Corcoran remember the path to success & understand that some Inventors need that help or support to be successful.

Re: "Shark Tank" Contest

Postby Scrupulous » Sun Jan 17, 2010 2:45 pm

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I really like the show.

So far, I've noticed that the expert seem to be more likely to step in and help when no more than about $50K is being requested. They also seem to jump at the mere mention of open purchase orders.

Re: "Shark Tank" Contest

Postby randyNH » Sun Jan 17, 2010 3:15 pm

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I also really enjoy the show. I think the sharks are greatly turned off by some seekers overvalued perception of their company. They investors are also want the people to do their homework and have a track record of some success. The investors also want to see a future plan with the business. I curious, because i haven't seen anyone ask for this yet, but I wonder If an inventor came in with a patent and said I only want to license this idea how they would react. I think that if you did some home work and did a little research they might bite without you spending much money. I think having an in with one of them would be fantastic

Re: "Shark Tank" Contest

Postby Scrupulous » Sun Jan 17, 2010 3:59 pm

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Well, just between you and me, the advertising exposure you'd get just from being on the show would be priceless. So any money they offer would be just icing on the cake.

You'd definitely want a trademarkable web-domain name in place before appearing on the show. That way, anyone can contact you.

I seem to remember one gal on the show last year who included her patent as part of a package deal, but nothing like what you're suggesting...

Re: "Shark Tank" Contest

Postby Gizmo » Sun Jan 17, 2010 4:45 pm

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Scrump, There were a few of the inventor's when asked if they had a patent they said yes a provisional patent. I was waiting for more than one shark to say a provisionals not a patent. Not sure why they didnt.
Lisa Loyd did a great job on the show, she never flinched a bit.
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