Barbara Corcoran: Attract Investors
Barbara Corcoran, one of the investors on ABC’s “Shark Tank” show, hears tons of pitches from eager, ambitious entrepreneurs every season. But which ones are strong enough to earn her backing? In this lesson for small business owners looking to grow, Corcoran explains how to prepare a convincing pitch for potential investors -- and which red flags to avoid.
Barbara Corcoran is the Co-Founder of Barbara Corcoran Venture Partners. Her credentials include straight D’s in high school and college and twenty jobs by the time she turned twenty-three. It was her next job that would make her one of the most successful entrepreneurs in the country when she took a $1000 loan to start The Corcoran Group. As one of the “Sharks” on ABC’s hit TV show, SHARK TANK, Barbara has ponied up her own money and invested in twenty-two businesses, competing to make those deals for all to see, then shepherding them to success. Her newest book, SHARK TALES, takes you behind the scenes of her life and business and her ‘seen on TV’ venture capitalism. Barbara is famously brash and blunt, bold and courageous, and a brilliant identifier of opportunity and talent (often invisible to others).
The single best pitch I ever heard on Shark Tank and I bought into was Cousins Maine Lobster. Two guys, young guys, owning a food truck in LA that originally came from Maine. They loved lobster. They had passion. But why were Jim and Sabin the owners of Cousins Maine Lobsters so good at pitching? Because they had grossly over prepared. And the over preparation became disguised as confidence. They had such confidence on that set. Every shark was trying to get a piece of that business and what was their secret sauce? They had watched all four seasons of Shark Tank, wrote down every question any shark had ever asked any entrepreneur and came up with two individual answers for each question. And they practiced for two solid months. Do you know it wasn’t until after I closed on their business and handed them my money that I found out they had only been in business two months. I didn’t know that because they were over prepared. Born natural entrepreneurs that hone their skill – they’re making me the most money – no surprise. They’re thorough at everything.
When I’m sitting in my chair on Shark Tank I’m looking for the red flags that tell me don’t put your money here. And it’s always the same stuff. When an entrepreneur doesn’t look the part of his business I’m out before he even says a word. Why? Because you’ve got to look the part. People perceive your business based on the guy on the front end – that’s you. I passed on a great shrimp business. The guy was phenomenal but the minute he walked on the set he had a dirty apron on. I figured his bookkeeping was a mess and I would never get my money back. I mean he’s on national TV and he wears a dirty apron? I’m out.
Barbara Corcoran, one of the investors on ABC’s "Shark Tank" show, hears tons of pitches from eager, ambitious entrepreneurs every season. But which ones are strong enough to earn her backing? In this lesson for small business owners looking to grow, Corcoran explains how to prepare a convincing pitch for potential investors -- and which red flags to avoid.
The Bajau people's nomadic lifestyle has given them remarkable adaptions, enabling them to stay underwater for unbelievable periods of time. Their lifestyle, however, is quickly disappearing.
- The Bajau people travel in small flotillas throughout the Phillipines, Malaysia, and Indonesia, hunting fish underwater for food.
- Over the years, practicing this lifestyle has given the Bajau unique adaptations to swimming underwater. Many find it straightforward to dive up to 13 minutes 200 feet below the surface of the ocean.
- Unfortunately, many disparate factors are erasing the traditional Bajau way of life.
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- Scientists at Cornell University devise a material with 3 key traits of life.
- The goal for the researchers is not to create life but lifelike machines.
- The researchers were able to program metabolism into the material's DNA.
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