The Shark Tank Way, Affordable Veganism, and Team-Building 101
How to make your business famous (according to ‘Shark Tank’)
Over the past decade, Shark Tank has been a major contributor to the increased popularity of entrepreneurship. The show has become one of the world’s top platforms to launch a business and recently reached an impressive $100 million in deals offered in the Tank.
When the Sharks offer advice, entrepreneurs listen. Here are the Sharks’ top tips for making a business famous:
Create an ingenious product
Using the Scrub Daddy as an example (now an extremely popular household product), Lori Greiner said, “Scrub Daddy was a technology. So, taking that one sponge, which was revolutionary, changed the whole sponge arena. Now we have, to date, 20 different SKUs, and we have 30,000 new retail locations and 170 million in sales. That’s what it takes from one idea to a global brand.”
Leverage social media marketing
Smart entrepreneurs understand the power of social media when it comes to making a company famous. “Every one of us successful entrepreneurs, for the last two years, were phenomenal at social media. It’s true. No exceptions,” said Barbara Corcoran.
Build a community
“You’ve got to build a community,” said Daymond John. “Nobody needs to buy anything new in this world. They only buy it because there’s some form of community and/or need that you are supplying for them.”
Devise a publicity hook to win media coverage
Being featured in the media is a great way to stand out from your competition and reach a wider audience. “I’d say you need a publicity hook,” said Barbara Corcoran. “Some hook, angle or gimmick that grabs the attention unfairly from your competitors.”
Know your strengths and stay focused
Mark Cuban, the largest of all the sharks said, “Knowing your unique advantages, play to that, and your strengths. And focus. You know, what happens is very often people start with an idea, get a little bit of traction, then it gets hard. And when it gets hard, they start looking for other things to do as opposed to playing to their strengths. Because businesses aren’t supposed to be easy. You know, if they were easy everybody would already be rich, and we’d all be sitting on a beach somewhere. And so, when it gets tough, you gotta dig in and work hard.”
**Bonus tip: Get on Shark Tank**
When asked about what advice he’d give for making a business famous, Robert Herjavec replied, “Get on Shark Tank, it really works — or Real Housewives, that works, too.”
According to Kevin O’Leary, “I think a lot of the companies and entrepreneurs have figured out that the Shark Tank platform is exceptionally good at launching and promoting extreme goods and services.”
Lori Greiner added “Yes, come on Shark Tank. The only way to become instantly famous!”
Source: https://www.entrepreneur.com/article/323088
22-Year-Old opens affordable vegan restaurant in Brooklyn
Francesca Chaney is a black millennial entrepreneur tackling the lack of healthy dining options available in her community. She opened her own restaurant, Sol Sips, in an effort to introduce affordable vegan cuisine because “just because the option isn’t there doesn’t mean that we’re not seeking the option,” the 22-year old said. In an effort to keep her prices affordable she has a “pay as you wish” on Saturday afternoons, giving the less fortunate a chance to indulge in healthy alternatives.
Source: https://newsone.com/3836194/francesca-chaney-sol-sips-brooklyn-vegan-restaurant/
Team-building: how entrepreneurs can create connection in the age of isolation
Great entrepreneurs prioritize the relationships they have with their teammates. Whether you have a physical office or a remote team, it’s important to make sure that your team members are both seen and heard.
According to a study in the Harvard Business Review, one single face-to-face meeting is more effective than 34 emails back and forth (!!!). Email can be tricky — without your voice and body language, your message can easily be misunderstood and create unintended frustration, stress and distrust.
Below are 3 tips to avoid using technology as a crutch and create real human connection instead:
Get to know your team on a personal level
Invite your team members for coffee or a walk to learn more about who they are outside of work. Employees who feel valued and fulfilled by their jobs will work harder and be more loyal to you when you need them most.
Find ways to increase engagement
Don’t wait for annual performance reviews to provide feedback and recognition. Look for ways to share, connect and engage with your employees. Each piece of feedback is a way to reinforce your investment in their careers.
Host social events to bring the team together
Office parties and off-site team-building events are a great way to celebrate victories, give recognition, and allow people to get to know each other. Employees appreciate the break; they feel more connected to your company and valued as a teammate.