Shark Tank debuted on ABC and is an unscripted American business tv series. The show is similar to that of Dragons’ Den which started in Japan and was a global hit. The TV show has a lot in common with the normal flow of Angel Investment.
There are about five financial backers or “sharks”, as known on the show who look at business visionaries presenting startup ideas or business expansion possibilities, who then conclude if they want to put their resources in their idea or organisation. In each episode these five or six multi-mogul financial and business speculators pay attention to the various thoughts and innovations that are brought forward by the contestants.
Among the large population in the world, most of the people are driven to the idea of having their own businesses and making it popular on a global level. But, they lose their motivation and lose their confidence because of various limitations which are not only money dependent but also in many other forms like lack of belief and support from family .
In Shark Tank, each episode offers these driven entrepreneurs a platform to achieve their goals that they think can turn into great opportunities. This series, which is globally famous among entrepreneurs, in another turn of events, will air on Sony and will debut the Indian release and hopeful business visionaries who want to win capital and become wildly successful can go to Shark Tank India.
About Shark Tank India
The caption promo reads, “World ka no.1 business reality show Shark Tank aa raha hai India mein! Jahan Sharks, yaani India ke experienced businessman, aapke business aur business idea ko parkhenge, taraashenge aur bada banayenge.”
The promotion of the show showed a boy who was demotivated by the people he was surrounded by but had great visions and wanted to have his own startup. Despite all the ridicule, he faced from his family and friends, he doesn’t lose faith in his dreams and passion and goes on to achieve it, in the right direction, and under the guidance provided by the Sharks on the show- Shark Tank.
The promotion also showed the process of filling in the application to be a part of the show and declared the way to be through the SonyLiv application.
How to Apply for Shark Tank, India:
Step 1 – Online Application
The first step includes downloading and updating the SonyLiv application and filling the form of the Shark Tank keeping in mind the guidelines which are presented on the application. Another important part is acknowledging all the agreements.
Step 2 – The Pitch
In this stage, the candidates are required to show the “sharks”, how their idea is different from the others and prove for them to be unique. The worth of the idea should be presented in a way that the “sharks” get motivated to put their resources into the idea. A 3-minute long video displaying a convincing pitch is to be submitted to the show.
Step 3 – The Audition
The chosen candidates will go through a series of tryouts with the Shark Tank group, which will be the ultimate advance towards becoming wildly successful in the first-historical debut of Shark Tank India.
Step 4 – The Shark Tank
The chosen candidates or the ‘Pitchers’ in this stage will get themselves one on one time with the ‘Sharks’ or the financial backers who will understand the idea and evaluate its standing in the market and make an offer dependent on the candidate’s last ‘pitch.’ They will evaluate and accordingly decide if they want to invest their money on the presented pitch. They will also put forward the forthcomings in their ideas and guide them in the right direction.
What Can be the Advantages of Coming of Shark Tank to India?
Shark Tank provides a family-friendly environment and showcasing a potential idea or startup in front of renowned investors who are on the show is also a benefit that can appeal to the participating candidates.
The Shark Tank, in general also helps these visionaries who are driven to start their own business to help come up with various responses about their organization’s administration, practices, and income that gives them the idea of the cutthroat inquiries that the market would require for them to estimate before they start up their own business or expand it.
In the past, a lot of new companies were born in Shark Tank, USA, and with the help of the sharks. Being a globally hit show gives one more advantage to the participants i.e. the public consideration they receive by just being a part of it. Again, receiving investment in the form of money or reward from the VIP judges is the top perk of participating in the show.
Just by showing up on the show, many individuals in India who have ideas that could reach heights for new startups or the people who need to build their present organizations can get a chance to get business tycoons to assist them with developing and know whether their idea has any forthcomings.
This will assist an ever-increasing number of individuals with coming up and sharing their thoughts. New organizations now and then need a little assistance from a strong financial backer. That is the reason that numerous tech new companies need to show up on Shark Tank. It’s said that just by showing up on the show and gaining a global presence through it can help you knock off any deal. This will be a great opportunity for Indian enthusiasts and new startups to make a better name.
There are various known organizations that have been able to obtain a decent spot in the market worldwide after showing up on the show- Shark Tank. Some of them are as follows:
Brethometer: It is a cell phone application that was presented on Shark Tank that would help party participants know if they are safe to drive.
xCraft: These were drone technologies that have the speed of an airplane and the capacities of a helicopter. The group presented two drone technologies and all the “sharks” got motivated to put their money into the project.
Scrub Daddy: It is one of the biggest shark tank success stories. It is a smiley face-sponge that is more hygienic and durable. $75 million revenue was earned by the company in three years after they appeared on the show.
In any event, when a business looks incredible on paper, it is essentially insufficient to guarantee that there is room in the market for the business to remain in profit or for that matter even exist. For the above reasons, the most important part of the presentation is how the valuation is introduced. This will keep the enthusiasts from committing any large errors or misfortunes.
The Key Concepts that Shark Tank Will Teach the Indian Enthusiasts:
Each Shark Tank pitch begins with the participants requesting a particular amount of cash in return for a percentage of proprietorship in their business. That sets up their proposed valuation. The sharks like valuation to be in context with real business numbers, like deals, and consumer rate, or fixed expenses.
This sets in the belief that the judges or investors need to know whether their business or startup has the ability to stay afloat in the market. Thus valuation is one key concept. The sharks need organizations that appeal to a large number of potential purchasers.
They need innovative ideas that do not easily fade away in the market, stay in the market for a long period of time and not have a scope of competition in the near future. These financial backers know the market since they are specialists in their fields; therefore, they guide the aspiring candidates in the correct way, which assists them with developing and expanding their businesses.
The sharks need to put resources into an organization that won’t be drowned in competition in the near future. The idea should not be such that it can be easily duplicated by others. This brings up the question of a solid patent. They guide the members about the product and if they are too simple to even consider. Assuming this is the case, they can anticipate a lot of contests sooner rather than later. This will teach the participants about defensibility.
Conclusion
Coming of the shark tank in India can be a huge achievement, in the business world of the country. It can guide the intrigued individuals and can push them with the right head start, thereby decreasing the misfortunes and losses they could go through in the long run which can usually not be anticipated by a lot of individuals. With the right direction and an unlimited number of talented people in India, the show can bring forth various new freedoms and take the independent companies who, in any case, would have no place to go, become worldwide sensations.
