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Shark Tankhas been a go-to show for every business enthusiast, with judges such as Mark Cuban and Kevin O’Leary leading the way. Along with these two, Daymond John, who is the 3rd richest Shark on the show, has also had his fair share of profitable deals. Many see him constantly giving constructive feedback and advice to young entrepreneurs.
But in an interview, he also detailed that for a business owner to grab his attention, they need to fail a couple of times to truly understand the gist of how a business works.
Why Daymond John wants entrepreneurs to fail before they pitch him onShark Tank?
Shark Tankhas been on the ABC Network’s screen for almost fifteen years now, presenting five venture capitalists at the top of their respective fields. While Mark Cuban and Kevin O’Leary have huge fan followings and net worths,Daymond Johnis not far behind with his string of successful business ventures.
On the show,he is the third richestafter Cuban and O’Leary and has a sharp eye for spotting potential. This was also the major reason why he invested in David Heath and Randy Goldberg’s company, Bombas. At the moment, the company has reached over$1 billionin sales, making it themost profitableShark Tankproductout there.
While his business smarts are definitely remarkable, in an interview withBusiness Insider, he detailed how an entrepreneur can impress him. He added:
Fail a couple of times, go as far as they can without requesting help from another person until they feel it’s a good enough opportunity to present to somebody. And have a problem-solving attitude.
He continued:
Every problem can be solved as long as they use common sense and apply the right research and techniques.
The venture capitalist added that a successful pitch is about more than just presenting a great idea. He further mentioned that an entrepreneur’s resilience and attitude are just as important as the product. So, he looks for individuals who will not give up easily, no matter how difficult a situation gets.
“She truly knows how to sell products”: The Most Underrated Shark in Shark Tank Who Has $1 Billion+ in Sales Isn’t Robert Herjavec or Daymond John
John also emphasized that entrepreneurs should know who they are pitching to and that they must do their homework and tailor their pitches to each investor’s strengths and interests.
Daymond John details why he won’t be onShark Tankforever
FUBU founder Daymond John has been a key part ofShark Tanksince it first aired in 2009. Over the course of 15 seasons, he has invested in several businesses. But despite his long tenure, the venture capitalist has expressed that his time on the show won’t last forever.
In a recent interview withPeople Magazine,he added,“I absolutely will not be on the show forever because I do think there’s time to make room for others.”He also mentioned that while he enjoys his role on the show, he is open to giving others the chance to join the panel in the future.
Although he remains committed to his position for now, theShark Tankjudge did joke about the challenges of working alongside Kevin O’Leary, adding,“It’s pretty challenging. After every pitch, I do question, ‘Hmm.”
New faces will be joining the panel in Season 16, including Daniel Lubetzky, the founder of KIND Snacks; Kendra Scott, the founder of Kendra Scott jewelry; and Rashaun L. Williams, a partner with the Atlanta Falcons. Other newcomers include Jamie Kern Lima, co-founder of IT Cosmetics, and Todd Graves, founder of Raising Cane’s.
“I hate you”: Mark Cuban’s Response to Shark Tank Pitch That Spammed Him With Emails, Daymond John Still Invested in it
Despite the changes, John is looking forward to continuing his role as a Shark, helping entrepreneurs bring their ideas to life.
You can watch all the seasons ofShark Tankon Peacock.
Sakshi Singh
Articles Published :1434
Sakshi Singh has written over 1,300 entertainment articles, mostly about Netflix shows and reality TV. She’s spent the last two years covering everything from surprise engagements to shocking eliminations and previously wrote for Essentially Sports in their Netflix Junkie division. A self-proclaimed reality TV addict, Sakshi has watched all 48 seasons of Survivor and never misses a new dating or competition series. She loves watching how strangers meet, fall in love, team up, or betray each other - it’s the mix of strategy and drama that keeps her hooked. When she’s not glued to a reality show, she’s usually watching a crime thriller or tracking the next big streaming hit.
