Businesses have always relied on wealthy investors to fund startups and expand their reach.. shark Tank is a reality show that gives the public a perspective on the relationship between entrepreneurs and investors during the most critical times, Initial Pitch. Through interviews, some filmed for over an hour, entrepreneurs have a chance to entice a “shark” to invest in their idea.
‘Shark Tank’ interviews with entrepreneurs
The season begins with interviews and weeding out hundreds of thousands of entrepreneurs who will actually be able to pitch their idea on the show. In order to pitch to these business owners, investors need to have a solid plan, product, and presentation to make it through. Due to the extreme pressure on the pitches, a certified doctor is hired on site to assess the health after the show. Investors give advice to business owners, especially if they are not going to invest.
During the show, contestants present their ideas to a panel of investors. They may receive a settlement to fund their idea or they may leave empty handed. Each interview is filmed in its entirety while the pitch takes place. Nothing was left out of even destructive comments about the product or idea. However, due to run time, most of the interviews will not be visible to the public.
Interview has been reduced to 10 minutes
Even if the interview is good, most of the interviews will not be visible to the public. Each episode has a set number of interviews that have to be presented and agreements are displayed. This doesn’t leave a lot of time for the slower aspects of presentations to show up. Filming for presentations can go on for over an hour, but usually the most important and entertaining aspects of the pitch and investor comments are cut short.
According to business InsiderThe television segment lasts only 10 minutes. However, pitches have been known to last an hour and, in the case of founder Michael Tseng, over two and a half hours. Contestants are given full attention and questions are answered. One has to take the time to understand the investment opportunity and decide if it is something the investor really wants to spend their money on.
whereas shark Tank Artists are paid for their appearance on the show, the money they invest is their own. Investors have to take their time in the interview process because they don’t know anything about businesses before the pitch was filmed. Not all broadcast agreements are actually followed, with some entrepreneurs rejecting the deal off-stage.
Not all filmed interviews show up
Sadly, if the pitch isn’t that exciting, it won’t be aired. About 20% of pitches are not broadcast due to lack of drama. That doesn’t mean they won’t get their investment or that they don’t have interesting pitches. They simply have a low entertainment value or high tech content that the public doesn’t want to see.
shark Tank Tries to assist small business owners through the reality show process of interviews filmed for entertainment. Disapproval on the part of investors ranges from kind to harsh and hurtful. However, there are thousands of businesses that are thriving because of their 10-minute television pitch segments.
The hourly pitch offered by entrepreneurs tends to attract investor attention because they are one of only six to eight interviews that day. Investors have to endure 12 hours of grueling interviews filming, yet we see only a little over an hour of their day.
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