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Shark similarities
There are many similarities in the Sharks’ lives and in their business philosophies. First and foremost, they started businesses from the ground up, or in most cases, from their basement to the boardroom. They had a dream, and they dreamed big, although, in the case of Robert, he wishes he had dreamed bigger!
The Sharks were not handed millions of dollars from their parents to turn their dreams into reality; rather, a few were given relatively small amounts of money in the form of loans. What the mainly working class parents did give the Sharks were powerful teachings and examples. Daymond’s mother taught him to dream big. Mark’s father taught him to work for what he wanted. Kevin’s mother taught him principles of investing. Barbara’s mother taught her the power of positivity. Robert’s father taught him to be grateful for the opportunities he had been afforded. The influence of their parents on these entrepreneurs is immeasurable.
Another similarity between the Sharks is their passion for what they do. They each got involved in businesses that they loved, and with that has come the passion that has driven them to success and ultimately money. Daymond loves clothes and the hip hop world; FUBU was a perfect fit. Mark loves learning and used his foresight to learn all he could about computers before they became household items. Lori loves solving problems and has designed hundreds of products to make lives easier. Kevin loves making money and has tapped into various ways to make more of it. Barbara loves real estate and became the Queen of one of the toughest real estate markets in the world. Robert loves developing technology and has dominated a niche market in this area. Doing what you love is clearly an important similarity between the Sharks.
When you do what you love you are more likely to be committed to what you do. You will not give in easily, but you will be persistent and work hard. All of the Sharks have shown this characteristic. As Kevin says, “That’s what it takes to be a winner. Complete personal sacrifice.” The Sharks have worked long hours and sacrificed much to get to where to they are; total commitment is crucial.
Also crucial to success is the Sharks’ ability to see failure as part of the journey. Mark says, “I was never afraid to fail.” Lori says, “I don’t look back.” Robert says, “The difference between success and failure is getting up one more time.” Barbara was on the brink of failure when she devised the Corcoran report and got the free advertising that she needed. Daymond failed to get funding 27 times before he was finally approved. There are numerous other examples of how the Sharks have overcome failure but perhaps the best advice is a quote by Mark, “All you’ve got to do is get it right one time.”
Seven pieces of shark bait
The Sharks’ similarities can be condensed into seven pieces of Shark bait that will help any entrepreneur swim with the Sharks:
Do what you love.
Be willing to make mistakes.
Work hard.
Be committed.
Be persistent.
Build a great team.
Dream big and never give up on your dreams.
Conclusion
The Shark Tank Bios are indeed tales of the American dream, the Canadian dream and in reality the dream of anyone who dares to think big. The boy next door has turned a few dollars into millions, and the girl next door has invented products that have made lives a little easier.
You have had a glimpse into The Shark Tank and seen how these experienced entrepreneurs made their millions and created amazing lifestyles. The similarities are obvious and the shark bait is available to all. Are you willing to bait your hook with the lessons learned from these inspiring entrepreneurs? Or will you give up before you have even started or before your journey ends?
Remember, “The difference between success and failure is getting up one more time.” And, “All you’ve got to do is get it right one time.”
Shark Tank. Are you in or are you out?
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