Best Shark Tank Products And What It Teaches

8 Benefits of Shark Tank And What It Teaches

1. Watching the show is entertaining and educational. Participants showcase their innovation and savviness in building products and a business. They seek partners who share their vision.

2. I encourage my students in marketing to watch and learn techniques in presenting a short elevator pitch. An elevator pitch is a brief description of a product that can explain its virtues in a short period of time

3. My students share their observations of specific products, how will it work in the marketplace, and for what market segment and demographics. Besides teaching, I often serve as a faculty advisor to students competing for grant money at entrepreneurship challenges in our college and graduate school.

Best Shark Tank products from our perspective:

1. ScrubDaddy

Aaron Krause, ScrubDaddy’s inventor, is our family’s hero in the kitchen. In season four, he pitched this product in 2012, looking for $100,000 for a 10% interest in his business. By the time he was on Shark Tank, his patented and proprietary scrubbing pad had over $100,000 in sales and went into 3,000 retail outlets.

2. Bombas Socks

The very comfortable stocks feature a honeycomb support system and “stay up” technology. In its sixth season, Goldberg and Heath presented on Shark Tank, asking for $200,000 for 5%, a $4 million valuation compared to an expected sales of $1.2 million for the year.

3. Simply Fit Board

At first glance, the plastic board comes in multiple colors. The concave curve you stand on looks unstable, but it is comfortable with a twisting motion. Linda  Clark and Gloria Hoffman are the mother-daughter team that pitched Simply Fit Board, the fitness product in season seven in 2015, looking for $125,000 for 15% of their business.

4. Sand Cloud Turkish Beach Towel

Sand Cloud is a charitable lifestyle company known for its colorful handmade Turkish beach towels sold online. They have donated nearly $1 million to marine-related non-profit organizations on over $7 million in sales.

5. Bala Bangles

The stylish wrist and ankle weights look more like bangle bracelets than for their primary use for low-impact exercise equipment. They are sold in different colors and weights. The two pounds on your ankles are quite heavy, and one pound was enough to help me regain some strength in my legs.

6. Squatty Potty The Original Bathroom Stool

Bobby Edwards and Judy Edwards were seeking $350,000 for a 5% interest in their business. They accepted Lori Greiner’s offer for a 10% interest. Squatty Potty comes in plastic and bamboo and various colors. Sales have soared since being on Shark Tank, with sales of $12 million.

Shark Tank provides many benefits to their viewers and to those who are able to gain capital and a partner or two among the Sharks. It provides entertainment and education to those who aspire to build a business and a path to wealth.  Its content has been a useful tool for me to engage my students.