Should i apply to ‘shark tank’ or ‘the profit’?



Despite a weakening American economy, it has never been easier for entrepreneurs to raise capital for their business ventures. This is a result of the increasing number of financing options for small businesses such as peer-to-peer lending and crowdfunding. For example, Kickstarter, one of the largest crowdfunding platforms in the world, has collected about 2 dollars. 2 billion for 100, 364 crowdfunding campaigns from 28. April 2009 to 16. February 2016. In addition, one of Europe's largest peer-to-peer lending service providers, FundingCircle, has funded more than £1 billion in loans.

Recently, entrepreneurs have been able to receive mentoring and funding for their businesses from a number of business-related television shows. ABC Shark Tank and CNBC's The Profit are two of the shows in the U.S. That offer entrepreneurs the opportunity to work with wealthy and well-connected investors. According to statistics Brain, more than $ 44. During the show's first six seasons, 2 million deals were funded through Shark Tank, while The Profit saw over $14 million invested in small businesses. While both fairs can be an excellent source of startup and growth capital for businesses, they are definitely not the right option for every business looking for funding opportunities. What follows is an unbiased comparison of what entrepreneurs can expect if they are successfully selected to appear on Shark Tank versus The Profit.

A review of Shark Tank and The Profit

Produced by Mark Burnett, co-creator of The Apprentice , Shark Tank is the American version of Dragons 'Den , a worldwide TV show franchise with local versions in the UK, Germany, Canada and Australia. Each episode features a series of entrepreneurs who don't have enough funds to reach their goals for their business. As a result, entrepreneurs on the show seek a potential investment from at least one member of a group of five wealthy and savvy venture capitalists, known as the "sharks," who can help them start, grow or even save their businesses. After listening to each pitch, the Sharks subject the entrepreneurs, who have undergone an intense interrogation session, to questions about all aspects of their business, including the company's unique selling proposition, its finances, potential patent rights and even the education and employment history from the entrepreneur.

"What measures have you taken to prevent someone from copying your idea?" And "If I invest in your business, when should I expect a return on my investment?" Are two examples of the questions entrepreneurs are asked as their business plan is scrutinized on the show. The answers to these types of questions will help a shark determine if a viable business opportunity is being presented. TV version of Shark Tank ranges from 8 to 10 minutes, actual negotiations before they are processed can sometimes take up to an hour .. In addition, the sharks receive absolutely no information about the entrepreneur his or her deal before the live pitch, and the conclusion of all deals made in the tank are dependent on successful due diligence.

Unlike Shark Tank , entrepreneurs who appear on The Profit have the chance to convince just one investor to become their new business partner.This investor is Marcus Lemonis, the founder of the world's largest supplier of RV accessories and supplies, Camping World. In each episode of The Profit

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