59 1/2 – February 29
“I’ve never been a millionaire, but I just know I’d be darling at it.”—Dorothy Parker
Here it is February 29th, Leap Day!
I didn’t have an official Leap Day page in my book “The Wealthy Spirit” so I’m writing a special page today here in my blog.
If you don’t know about or haven’t been watching the TV show “Shark Tank” on Friday nights on ABC, I totally recommend it! It’s amazing how many powerful business concepts you can pick up just by watching this show. I’ve been telling participants in my workshops and people subscribed to my newsletters to watch it for the last couple of years, and now the sharks are back with their third season.
It’s a reality show that invites would-be entrepreneurs to bring their best business ideas to the table. These entrepreneurs present these ideas to a Power Panel of business “sharks”… in the hopes of getting funding for their operating or start-up businesses.
The panel of “sharks” then asks the entrepreneurs hard-hitting, no-nonsense (and often very insightful) questions to get to the bottom of their ideas. Most of these ideas get shot down. But just hearing what these brilliant business sharks have to say offers exceptional lessons in business building, especially from a profit perspective. The sharks are venture capitalists. They invest their money in businesses that are going to pay off in big profits. Darlings, it’s all about the money.
Yes, you want to love your business, and help people, and do good in the world – but what we learn from the sharks is that if you don’t make a nice profit, you aren’t going to be in business for long.
“I’m making bundles of cash helping others today!”
Each “shark” on the panel is a legend in their industry. The kind of incredibly successful Mentors that most aspiring entrepreneurs would never have access to otherwise.
For example, one of the Sharks is Mark Cuban, billionaire owner of the NBA Dallas Mavericks. Another is Daymond John. A born entrepreneur, Daymond took a small hat-selling venture and turned it into a billion dollar global fashion industry. He also has interests in over 50 companies around the world, and has written two books. Lori Greiner is the Queen of QVC, turned one idea into a multi-million dollar enterprise and holds more than 350 patents. Kevin O’Leary started in his basement, creating a software company that he later sold for 3.7 billion dollars. And Roger Herjavek lived the classic “rags to riches” story, a son of immigrant parents turning software businesses into the multi-millions of the American Dream.
All together, there are five business legends with incredible insights into what makes a start-up or struggling business work.
Just by watching Shark Tank, you’ll get many serious takeaways from these high-level business veterans. When they don’t like the business plan, they’ll say, “I’m out.” Listen to the reasons why, and learn!