“We definitely dodged a bullet”: Why these businesses that didn’t get Shark Tank deals think they’re better off

Though it’s a far cry from the realities of business, Network Ten’s Australian version of Shark Tank is one of the few representations of entrepreneurial and business life on modern television.

It’s for this reason so many Australian SME owners and startup founders hold the prime-time TV show in high regard. Not only is there a chance to net investment from some of Australia’s most notorious and successful businesspeople, your business is also — albeit briefly — thrust into the spotlight on national TV, providing more exposure and interest than most founders could ever dream of.

But often that exposure is the only thing entrepreneurs walk out of the tank with. In season one of the show, of the 62 businesses that pitched over the 15 episodes, 39 of those (or 63%) left without locking down a deal. And even for those who do shake on an investment, the deals themselves often don’t pass due diligence.

This leaves the majority of businesses on Shark Tank with nothing more than a prime-time grilling and some choice words from the investors. Read more

Dominic Powell - Startup Smart - 7 Sep 2018