Late last year when I was up super early with my newborn I saw an ad for Shark Tank auditions on Channel 10. Having just come up with the CPC business idea and website I thought what a great forum to launch this potential business into the world. So I filled in the forms, went through the audition process and got selected.
Fast forward to the day of filming I got the opportunity and went into the tank head first only to get eaten alive on the perceived investment risks being far greater than the offered returns. They initially liked the pitch but then it shifted and came across as preying on the little guy investors, the amount of editing and dramatisation assured the villain theme.
They then hated the business model as it was looking to use their reputation (i thought that was the reason people went on?) but apart from the grilling and the amount of editing I can honestly say the experience was amazing and well worth it. Not only have I tweaked the CPC business model but it has made me more hungry to succeed so I can prove the Sharks wrong.
In hindsight the CPC startup business was to early stage for the sharks, they want a tangible sure thing that’s already making money and they don’t want to work hard for it, why should they – they’ve already made their money. Only a small lucky few startups get the funds most get ripped into for over valuing their business, chewed up and spat out for entertainment value.
I don’t want to discourage anyone from going on the show as the exposure you’ll get is huge but you must be prepared for failure. As Mark Bouris wrote in his article last year (click here to read his full article about Shark Tank) – Australia needs more Entrepreneurs people willing to get up off their backsides and give it a good old Aussie crack. I believe the show needs to provide more to the participants in the form of genuine on and off camera business feedback but alas this doesn’t really make good telly.
I’m lucky in a way that I will see this as a great talking point with colleagues friends and family, nothing is as good as providing a self-deprecating source of humour. Time will tell if the exposure was worth it for the CPC business but one thing for sure I’m not going to die wondering.
Watch Dave on CPC on Shark Tank – Ten Play (approx 24th minute)