My name is Molly Maloney and my
business is Yes, And… Therapy. With my business I aim to diminish stigmas
around seeking help for anxiety in middle class communities, and especially
among people of color. Being an entrepreneur, and observing the processes in
both TV shows, I have seen the positive impacts and negative impacts of both.
Shark Tank is the best format in terms of helpfulness to the entrepreneur for two
main reasons.
The first reason is that with Shark
Tank, you are told if your product/service is going to fail right from the
beginning. You do not have to wonder and worry if it is going to be successful,
because they will tell you if it is not. They may tell you it is because of
you, or the product or the marketing, but they will tell you why. Marcus
Lemonis simply comes to you after and tells you what you need to fix, but it
may be so late in the process that you are not exactly sure how to even fix it.
The second reason is that you get
the input of multiple investors with multiple talents, instead of just one.
Each shark has worked in a different industry so they have their own sets of
skills, their own knowledge, and their own connections that the others may not
have. This is obviously much more helpful to the entrepreneur.
I think the best investor is Lori
Greiner because she is very talented when it comes to marketing and retail. She
will get your product in stores and sold. She knows how to make the product
look appealing, while also getting the message across about what it does. I
feel that marketing is definitely the most important thing when it comes to a
new product or service, because it is important to get the product name out
there and known.
If
I were to have to choose one of the investors to help me with my business I
would choose Lori Greiner. My business is a bit unusual and therefore needs
good marketing in order to appeal to people. I also think that it will be
important for my business to be marketed well in order for others to understand
what the actual service is. Conveying the message that it is both a type of
therapy and improvisational theater class in one will be difficult, so it would
be good to have someone so good at marketing to help me out.
One major
difference between the way that Marcus Lemonis and the investors on Shark Tank
fund businesses is that while Lemonis tells them his role in the company and
how much he plans to invest from the beginning. The sharks on the other hand,
negotiate with the entrepreneur and also sometimes choose to have absolutely no
control over anything in the business, and just simply are willing to invest,
and get their money back.
No comments:
Post a Comment