Winning Buy-In

Select one of the following scenarios: Scenario 1: You are a budding entrepreneur with a great idea and you want to pitch it on the TV show "Shark Tank." Your product or service should be something the Sharks will want to sink their teeth into. Scenario 2: You've got a great idea you want to pitch to your leadership team. For either scenario, there are two deliverables: Part One: Create a 1-2 minute pitch of your idea, using the approaches described in the Weekly Materials. For this section, you may either write out your pitch or record it on video. Make sure your pitch includes: An introduction previewing what you are going to pitch A hook A brief, non-confidential, description of your product or service Any differentiating advantages your product or service offers Financial information, such as how much your product or service sells for (for purposes of this scenario, you can make this information up) An explanation of how you will use the Sharks' money or your organization’s financial support (e.g., building your product, hiring more employees)

Sample Solution

Hi, I'm [Your Name], and I'm here to pitch you on my product, [Product Name]. [Product Name] is a [brief description of the product or service].

Hook:

[Product Name] is the perfect solution for [problem that the product solves]. It's [differentiating advantage 1], [differentiating advantage 2], and [differentiating advantage 3].

Product Description:

[Product Name] is a [brief, non-confidential, description of the product or service]. It's made with [materials] and it's [features].

Full Answer Section

Sure, here is a possible pitch for a product that could be pitched on Shark Tank:

Introduction:

Hi, I'm [Your Name], and I'm here to pitch you on my product, [Product Name]. [Product Name] is a [brief description of the product or service].

Hook:

[Product Name] is the perfect solution for [problem that the product solves]. It's [differentiating advantage 1], [differentiating advantage 2], and [differentiating advantage 3].

Product Description:

[Product Name] is a [brief, non-confidential, description of the product or service]. It's made with [materials] and it's [features].

Differentiating Advantages:

[Product Name] has several differentiating advantages over the competition. First, it's [differentiating advantage 1]. Second, it's [differentiating advantage 2]. Third, it's [differentiating advantage 3].

Call to Action:

I'm asking for $[amount of investment] in exchange for [percentage of equity]. I believe that [Product Name] has the potential to be a huge success, and I'm confident that you'll be glad you invested.

Here are some additional tips for pitching your idea on Shark Tank:

Be clear and concise. The Sharks have limited time, so you need to make sure your pitch is to the point.
Be passionate. The Sharks want to invest in people who are passionate about their businesses.
Be prepared to answer questions. The Sharks will likely have a lot of questions for you, so be prepared to answer them.
Be confident. Believe in your product or service and your ability to succeed.

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