If this isn’t an interesting topic, I don’t know what is.
You can learn a lot about business success on Shark Tank. For those of you who haven’t watched it, aspiring entrepreneurs come on the show asking for funds to grow their business. Some contestants have new businesses that haven’t really made much money and some are more seasoned.
The “sharks” are 5 highly successful (multi-multi millionaire) entrepreneurs who must be impressed and won over enough to want to invest in these companies. Sometimes they all want in and there’s a bidding war, sometimes they team up and sometimes no one is interested. That’s why it’s called “Shark Tank”.
The reason it’s so fascinating to watch is to see these aspiring entrepreneurs who are so passionate about what they do and how they present their vision to the sharks. Some of them have all of their facts and figures. Some of them are looking for a handout. (It’s like watching an entrepreneur at a networking event describe their business).
On a recent show, one of the sharks told a contestant that she had a “hobby” and not a business. What that means is that this wasn’t a money-making idea that was worth investing in.
During the show’s 2012 season, 36,076 people applied to become contestants
Over 6 million businesses start every year, over 70% fail in the first year. Would you be able to survive on Shark Tank…or would you get eaten alive?
In other words, do you have a hobby or a business? According to the IRS, you need to make a profit in at least 3 of the last 5 years – or you have a hobby (a hobby is defined as an activity done regularly in one’s leisure time for pleasure).
Which do you have…a business or a hobby? Sadly, most entrepreneurs have a hobby. The reason for that is that they have wonderful ideas but don’t know how to make that a business. They don’t know how to bring in consistent income. They don’t have control of their business.
That’s why I created the Easy Success Planning Course. I’m on a mission to start changing those statistics. I think it’s a crime that so many businesses do fail because they’re not making the money they need to survive.
In my brand-new Easy Success Planning Course, I’m teaching:
- How to create a vision for your business and life. This will be your road map for the next year.
- How to determine your needs vs wants so you can start making smart business decisions to help with your profitability
- How to plan out your marketing needs for the year (otherwise, you’ll be running your business by the seat of your pants…causing lots of undue anxiety)
- How to clear out negative thoughts and beliefs that you can’t do this, it will be too hard…and that other noise going on (mindset is over 90% your key to success). Yup, we’re going to be tapping.
- Most importantly, how to plan (and make!) the income you want
Be Brilliant,
Kate Beeders, Mindset, Money & Marketing Expert
www.KateBeeders.com
P.S. Early Bird Bonuses won’t last long. Register today!
P.S.S. Miss the call? There will be an encore call of Entrepreneurial Financial Freedom. Click here
