Your Shark Tank Experience
Your time has come! The long days and sleepless nights of planning, designing, and projecting, are about to pay off. You have finally made it, and today you are making your appearance on the hit tv series “Shark Tank”. This is your chance to pitch your amazing idea and secure hundreds of thousands of dollars from these experienced and highly successful investors to help you grow your business and create success. You proceed into the “tank” and make your pitch.
You describe your product, along with your struggles, and the fact that you have had an amazing opportunity with a large company who wanted exclusive rights to your product. Wow! Great job the sharks say! Where does that stand? Oh, you explain, we were unable to get the materials to meet the demands and they pulled out. Understood, they reply. That happens sometimes. What else have you done since that opportunity fell through? You look at the sharks with a blank stare as you realize what you are about to say is going to sink your hopes of securing an investment. Nothing, you reply… I am stuck here and really don’t have a plan to fix it. I was hoping one of you would help. Immediately, the sharks bail on the chance to invest in your business and you are left without a deal. They were not willing to risk their hard-earned money to invest in you, if you are not willing to do everything in your power to make it a success. Honestly, do you blame them?
It seems so obvious when you are looking at this from the outside in. If someone is not willing to take action to drive success in their own business, why would you want to partner with them? Let alone, invest your hard-earned dollars and your valuable time.
As I travel and meet business operators, it is interesting how many fall into this category. When we review the status of their business and they are under performing, the obvious question, just like the sharks is “what are you doing about it”? It is eye opening to see how many of these operators are looking at me with that same blank stare and it is obvious they are not doing anything to change that performance.
So, this started me thinking about life. How many of us are moving through our lives with high hopes and when we have a setback, we accept it and just let it go? Travel plans, relationship plans, health and wellness plans, educational or professional plans. If you were to present your plans for a specific area of your life to a group of “sharks” how would that pitch go? Would they see you overcoming obstacle after obstacle? Would they see you being relentless in your pursuit of the desired outcome? Or when they asked, “what are you doing about it”, would they hear “nothing, I was hoping you could help with that”?
If you answered yes, they would see my effort, my plan, and my tenacity and this would spark a barrage of offers to invest, great job! Keep up the good work and please analyze your success so you can share what helped you create it with others who are willing to learn. If you answered “nothing” and you truly want to drive success in an area of your life, here are 4 simple steps to start implementing today to help you in your quest.
1. Speak it into Existence
The spoken word has a direct impact on our lives. Speaking something out loud brings it to life. If you read the best-selling book by Napoleon Hill, “Think and Grow Rich”, the author specifically outlines a plan and a key point of execution is to speak your desire out loud multiple times per day. Whether you follow that process or not, speaking your desire to life is a critical first step. “I am going to Thailand in the next 2 years”, “I will start a podcast this year”, “I will write a book before I am 55 years old”. Whatever it is, breathe it into existence by speaking it out loud.
2. Set S.M.A.R.T Goals
In most cases, the desired outcome is not going to happen overnight. You will most likely be looking at something that is going to progress over time. A key to avoid getting overwhelmed and giving up, is to identify one or two priorities that will lead toward your desired outcome. Focus on those priorities and set some goals around them. The goals must be Specific, Measurable, Attainable, and have a Time by which they should be achieved. One example might be to get healthier. A SMART goal could be; over the next 7 days, I am going to avoid added sugars in my diet and I am going to spend at least 4 days exercising for 30 minutes minimum. To be a better spouse; over the next 7 days, I am going to say 1 thing I appreciate about my spouse in the morning and in the evening before going to bed. Saving for a vacation; Over the next 12 months, I am going to withdrawal a set dollar amount from the bank and set it aside every Friday. These small steps will compound over time to lead to the desired result.
3. Establish Checkpoints
In the military, back in the days when we had to use a map and compass, we would plot our routes from one objective to the next, on a laminated map. Along the way, we would establish checkpoints where we would stop, and report to the command center on our progress, etc. Ultimately, through the series of checkpoints, we would reach our desired location to accomplish our mission. In the same way, we should establish checkpoints along our route to self-report and see how we are progressing. The frequency depends on what your goal is. If it is a behavioral outcome you are seeking, daily check-ins are great. If it is something that is longer term, such as financial outcomes, you may check in every 2 weeks or 1 time per month. The key is to make sure you have checkpoints and you are monitoring progress.
4. Be Nimble
Yes, you are going to run into obstacles. Some of your action items may not drive the desired result. Be prepared for this. When you check in and see that the action or priority you are focusing on is not working, be willing to self-reflect, acknowledge the shortcomings, and try something else. Do some research, listen to a podcast, speak with a mentor or coach, and set a new priority to focus on that will lead you to the desired outcome.
These are some easy steps that you can implement starting today. I hope that whatever your desire, you can use this as framework to help you walk into that tank and get that investment!