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According to investor Kevin O’Leary, there is a common thread between the successful presentations on ABC’s “Shark Tank”.
“The most important part of a pitch in the Tank, Boardroom or Zoom is to capture the attention of the room,” he tweeted on Friday.
As an example, O’Leary cited entrepreneur Akeem Shannon, who caught the attention of all Sharks on Friday’s episode of the show by starting his speech with a rap about his product, a phone accessory called Flipstik.
“It’s an on-demand kickstand,” Shannon said of Flipstik, a reusable adhesive designed to attach cell phones to other surfaces for hands-free use. “Sharks, give a child a chance. I will generate a return on my investment [return on investment] on your $ 100,000. “
After his rap, Shannon asked the Sharks for an investment of $ 100,000 in exchange for a 20% stake in his business. And while he hasn’t even revealed the details of his business yet, he’s already captivated every investor.
“Well done Flipstik,” O’Leary tweeted.
Mark Cuban and Daymond John loved Shannon’s presentation and called her “the best rap we’ve seen” on the show. Barbara Corcoran said it was “a great way to get into the tank,” she tweeted on Friday.
“Her energy is contagious! The best salespeople always have a lot of energy,” she added.
Thanks to his rap and pitch, Shannon received offers that he might not otherwise have, as his company hadn’t generated a ton of sales: in about two and a half years, Flipstik generated 115,000 $, Shannon told the Sharks.
“Your sales suck,” Cuban said. “You know $ 115,000 [in two and a half years] is horrible. “
Because most of Flipstik’s sales were done through physical retail, Shannon said the Covid-19 pandemic had devastated growth, and he came to the show to get help selling. directly to consumers.
Shannon received offers from O’Leary and Lori Greiner because they were impressed with Shannon as a person.
O’Leary offered $ 100,000 for 20%, which Shannon asked for, and Greiner offered $ 100,000 for 25%. Cuban was about to make an offer, but Shannon accepted Greiner’s instead.
Shannon’s rap did the trick, because in the perfect pitch, “you have to explain exactly what the business is in under 90 seconds,” O’Leary previously told CNBC Make It. “If you can’t do this, you will never succeed.”
Disclosure: CNBC owns the exclusive off-grid cable rights to “Shark Tank”.
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