Since first appearing on Shark Tank in 2011, investor Sign Cuban has made a lot offers with keen entrepreneurs attempting to get funding for their modern merchandise, apps and services and products. And whereas he’s had success with many, others haven’t been so fruitful.
Sign opened up in Would possibly perhaps well also fair on Steal Lowe’s Actually podcast about exactly what happens in the again of-the-scenes of the expose and why offers don’t always work out the system we scrutinize them on TV. The shark stated that he liked filming the CBS hit, however admitted that “coping with the companies after [a deal has been made] most regularly is a ache in the ass.”
“When we hiss ‘optimistic’ to a deal, we get to attain due diligence after the true fact because a lot instances [entrepreneurs] get so nervous — on TV, it could presumably presumably be 10-14 minutes prolonged, however in valid lifestyles, as soon as they’re pitching us, they’ll scramble wherever from 20 minutes for truly dull ones to 2 hours for intense ones the build a bunch of us have an interest — so infrequently, it gets so intense, they lie their asses off.”
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Sign persevered: “They would possibly be able to hiss ‘my widget handiest charges $1 to get, and what they would possibly perhaps presumably presumably even no longer hiss is it would mark $1 if we made a billion of them, and to boot they’ve made seven. Or, you understand, ‘I don’t have any debt on the balance sheet whatsoever,’ after which you attain your due diligence and to boot they have $100,000 in debt on their credit score playing cards and to boot they grasp ‘it would now not depend if it be on my bank card.'”
Sign published that out of the 100+ companies he’s invested in, about 20% “made me moderately a ramification of cash” whereas he “misplaced it all” with every other 20%, and the majority pause up somewhere in the heart “the build you dazzling assist on grinding — you get a minute, lose a minute.”
But even thru the total craziness, he stated when something does work out for the most appealing, there is now not any elevated feeling. “The checklist of things you convey across these companies is improbable, however the of us are valid, and that’s the explanation the most gripping part: helping any individual truly grow their industry, or grow with their industry, and turning it into something truly particular, and seeing them have their desires come excellent.”
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