Being on Shark Tank with my brothers was an incredible experience. While we were looking for some additional funding, the real reason we wanted to get one of the sharks involved in our business was for their industry expertise. Having someone like Mark Cuban, Alex Rodriguez, Lori Greiner or any of the other sharks help take our company to the next level sounded like such a blessing. We were lucky enough to make the cut and have our episode aired—the show doesn’t let you know whether or not you’ll air until two weeks before—and we definitely experienced a boost in sales immediately after.
However, after that initial wave of sales, you still need to find a way to keep attracting consumers. The opportunity we had to speak directly to the sharks allowed us to gain valuable insight and taught us quite a few lessons about running our business. These are some of the biggest takeaways I learned from the show.
Be Prepared for Your Pitch
I was way over-prepared to present my pitch to the sharks, but I wouldn’t have done it any other way. Before we appeared on the show, I watched every episode of Shark Tank. As I was watching, I would write down some of the questions that came up to make sure I was ready for anything they might throw my way. I was just waiting for Mr. Wonderful to ask me, “So, what’s stopping me from making the Mr. Wonderful shaker bottle?” and I was dying to answer the question for him. Unfortunately, he didn’t hit me with that one, but I took that as a sign that I was able to effectively convey what makes Ice Shaker a cut above the rest.
Be Confident
Because I had put so much effort into preparing my pitch, I really didn’t feel very nervous going out there. I knew that I had the answers they would want, and I knew I was bringing in a product that had a lot of potential for success. I was so confident walking into that room that I think the sharks could pick up on that. If you’re confident about your product, it helps reassure others that this is something you really believe in and have put a lot of effort into.
Position Your Product as a Solution to a Problem
At the beginning of my pitch, I explained the previous issues I’ve had with other similar protein shakers and blenders. Right away, this showed the sharks how our Ice Shakers revolutionize this market and will appeal to athletes and other active people who experience similar issues. In my experience with these types of products, you often find that it’s difficult to clean, can’t keep drinks cold for an extended period of time or the cap is difficult to open and gets in the way. We’ve targeted each of these issues to ensure that Ice Shaker is the best protein cup out there.
Listen to Your Instincts
One of the biggest lessons I learned from being on the show was to listen to your gut. A major critique the sharks had involved was the name of the product. Many of them thought we should change the name to the Gronk Shaker, but we really felt as though that would pigeonhole our demographic to only fans and sports lovers.
We want this product to appeal to people of all different ages with a variety of interests and favorite physical activities. I’m proud that we defended our product title and explained our thinking behind it, though we did realize that the sharks had a point. We were missing out on a potential group of customers who would want a Gronk shaker. To compromise, we kept the name but created a special bottle design dubbed the Gronk Shaker, which is a 26-oz. version of the stainless steel shaker bottle.
Be Prepared to Explain Why Your Product Is Unique
At the beginning of my pitch, I tried to explain how our product’s features offer solutions to common protein shaker issues, but our Ice Shaker is just one of many similar bottles. Before making offers, the sharks started to grill me on specifics, and Mr. Wonderful commented that there are dozens of different tumblers, shakers and blenders on the market. Why is Ice Shaker special?
I had an answer for this right away because we designed the bottle to be unlike any other shaker cup out there right now. Our insulated tumbler is the only one of its kind with a classic pop-top, which prevents spills and doesn’t hang or hit you in the face when tilting the bottle back for a sip. It’s also super frustrating when you get a great protein shaker, but the width is too big to fit in a cupholder, and you end up trying to hold the shaker or keep it between your legs as you drive. We tested our tapered design to ensure it would fit in practically every cupholder size, and we made the rim larger so it’s easy to fit your hand in while cleaning the bottle.
There are certainly other stainless steel protein shakers out there, but none that are vacuum-sealed and insulted with two walls. Without these features, a lot of the stainless steel bottles I’ve owned will make the cup itself extremely cold and freeze your hand when you try to drink it. This lack of insulation also caused the drink to get warm much quicker than with the Ice Shaker.
Take Advice from the Experts
Though I mentioned that one of the biggest lessons I learned was to listen to your instincts, I also got a lot out of talking to professionals who have started businesses before and helped other startups get off the ground. It’s a little foolish to think that you know everything when first opening a business, so at least taking others’ advice into consideration is important. Even though we didn’t one hundred percent agree with the sharks’ advice on changing the name, we thought about why they felt that way and realized there was a lot of potential. Creating the Gronk Shaker helped to expand our product line and attract new customers without sacrificing our name.
