The Story
Millions of people watch Shark Tank, but few of us actually know what goes on. Unlike what’s shown on TV, some pitches are over two hours in length— the shortest to date was 24 minutes.
Even the “tank” that is shown on TV is deceptive— it’s really just a TV monitor. Still, the pressure eats away at some people, particularly when a shark gives you the death stare, or multiple sharks talk over one another. One contestant on the show, notoriously, even passed out.
So What’s the Secret?
One common theme mentioned amongst the panel was persistence. Phillips, for example, was approached at an industry convention by a Shark Tank casting coordinator, and he was brave enough to ask why he hadn’t received an email as to his status with getting on the show.
After speaking with the casting coordinator, he was told that he should’ve gotten the response somewhere, even if it was in his spam email— but not to open it. This is because the coordinator told Phillips he’d ensure that he would be on the show.
In terms of the benefits of going on the show, there’s no secret: they’re vast, perhaps even infinite. Tabis mentioned that every time there is a rerun of the episode he is on, he gets an influx of traffic to his company’s website. He “recommends going on Shark Tank every time.”
Yim is the only contestant in the history of the show to get all five sharks to invest in his company. He didn’t specifically divulge any secrets.
Lastly, Lim disclosed that he was initially kicked off the show, but got another opportunity by sending a witty email highlighting his being Asian, saying: “You need some diversity.”
SB Magazine and Shark Tank Alumni
I was able to have a brief conversation with Mark Lim of Lollacup. Here are some of the highlights of our correspondence.
• Lim knew most of the other alumni prior to the panel. He called the group of Shark Tank panelists a “somewhat of a mini family,” and he’s “never had a Shark Tank alum who refused a meeting or phone call.” He says, “We try to help each other as much as possible.”
• Lim called Shark Tank “a gateway to getting solid press.” Since appearing, he’s gotten mentions on The View, Kiplinger’s, Forbes, and World News. He hopes that “over time people will view us as a quality baby product brand that is here for the long haul.”
• He called the atmosphere at Silicon Beach Fest “very welcoming” and “laid back whereas most of the other startup events feel a little more cut-throat.”
Silicon Beach Magazine 25