Here are the top 5 Tips From The Shark Tank Investors that you can use to improve and grow your business.
1. Create an ingenious product.
“It’s a mix, right? Of smart marketing and ingenious product. For example, Scrub Daddy was a technology. So, taking that one sponge, which was revolutionary, changed the whole sponge arena. We now have, to date, 20 different SKUs, and we have 30,000 new retail locations and 170 million in sales. That’s what takes it from one idea to a global brand.”
2. Leverage social media marketing.
“Social networking is so important. Also being a little bit disruptive now … and you have to be creative. You have to be creative. The President was the most disruptive candidate that there’s probably ever been in history. He got people’s attention, and young entrepreneurs need to get people’s attention in some way. So be a little disruptive.”
3. Build a community.
“You’ve got to build a community. Nobody needs to buy anything new in this world. They only buy it because there’s some form of community and/or need that you are supplying for them.”
4. Devise a publicity hook to win earned media coverage.
“I’d say you need a publicity hook. Some hook, angle or gimmick that grabs the attention unfairly from your competitors.”
5. Know your strengths and stay focused.
“Knowing your unique advantages, play to that, and your strengths. And focus. You know, what happens is very often people start with an idea, get a little bit of traction, then it gets hard. And when it gets hard, they start looking for other things to do as opposed to playing to their strengths. Because businesses aren’t supposed to be easy. You know, if they were easy everybody would already be rich, and we’d all be sitting on a beach somewhere. And so, when it gets tough, you gotta dig in and work hard. I’d say the final thing I’d add is that sales cures all. There’s never been a business that succeeded without sales. So, if you focus on selling … if you’re able to sell … and that’s something that is one of your core competencies, then you’ll be okay.”
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