How Hard Is It To Get On Shark Tank

How hard is it to get on Shock Tank? We're going to go through the statistics. We're going to go through the details and you're going to be shocked at the number. I'm going to give you the number at the end of the video. So number one, let's talk about how many people actually apply. It's a shocking number. And then number two, even if you made the first cut, you still got tons of auditions. And then number three, we're going to talk about the actual, I'm going to call it the character of the choice. Like what, what do you really have to have to get chosen? And a lot of you, it's not just a good business plan. So number one, ready? Over 50,000 people apply a year for Shark Tank, right? So if you're out there, you're a creative entrepreneur and you think, oh my gosh, I'm actually going to make it. I want to go to Shark Tank. Here's what I know about Shark Tank because I know them, been offered to be there. It's entertainment. For number one, TV is entertainment, right? They do a really good job of like weaving in some education. But even when I was on Dr. Phil, it's entertainment. So you have to be like more than just a business plan. We'll talk about that later. So when 50,000 people apply, they have auditions all over the country. Here you are, the creative entrepreneur showing up because you think the shark in your tank is the only way to really make it. As I talk about the third point, I'm going to give you some ideas about how you could just come to our community. Shark with us. I've been a shark since before Shark Tank ever gave us a name. So the numbers are staggering. And number two, once you get in, you've got levels and levels and levels of auditions. So Kevin Harrington, who was the original shark on the first episodes of Shark Tank, who's a dear friend of mine, he and I have a book together. We'll have a link below on how to get in the game. And he and I both talk with a whole bunch of entrepreneurs about how they got in the game and really were pitching us as sharks. And so what's interesting is once you get past the first screening, then you go through series of auditions and additions, additions. You don't even get to meet the sharks. These are executive producers that are screening, making sure that you actually not only have a business plan, are you viable? Are you camera friendly and ready? And are you coachable? It's shocking how many people don't make it. And again, I'm going to tell you on this next conversation, how I can help you get there faster. In fact, I've taken fallout projects from Shark Tank because the business plan wasn't there. The financial plan wasn't there. It was what I call an idea, not a deal. And so yeah, it's kind of sexy and fun to see you have a shark in your tank. And the reason you make it when a shark, especially one of the original sharks, actually get in your business is they provide distribution you don't know how to get. That's really what they do. They put their name on it. They put you through their connections and they give you bandwidth that you don't even know to have. What is not disclosed is how little of your company you will have left. So I know people that have made it big and they actually have done well, but the original owners are down to less than 10% of the company they walked in that door owning 100% of. Because when you continue to grow, what no one's going to tell you is not only is the shark going to come in for whatever their percent is, they're going to bring their teams who actually know how to run this company that you don't have the teams and systems, which means you're going to continue to get diluted and diluted and diluted. Then if you need more capital, you'll get diluted again. So really, unless you know how to really run the company and you're willing to do that, I think a lot of you don't know what you're in for and really what you're getting. You're getting some darn good distribution and you're getting their name. And then what? What are you giving up? Versus get educated, lean in and learn and understand business yourself. I wouldn't go get a shark, not like that. I would take convertible debt on in a totally different structure before I just go give equity away. Because giving equity away, it's really difficult to get it back and usually end up in court. And that's probably the secret that's going on too. The amount of court cases behind Shark Tank, it's insurmountable. Won't talk about that, not part of our conversation today, but check it all out. So the third thing, and before I talk about the third thing, because that's really what I want you to do and how I think you can get there faster with different resources and it's a different path and you actually can control and own more of it. So before I do that, I want you to subscribe to my channel. Click the notification link. I want you to be here every day. We're here eight to 12 minutes a day. Make sure when that notification goes off in the morning, you actually listen to the video and don't just bypass and say, that doesn't apply to me. That's not interesting to me. I would think every video I would say, how does that apply to me? How could I make this more part of my financial and business conversation? Let your kids in on this. They're already out on YouTube. They need to be out here learning business and financial literacy. So to continue on this audition process, things that are going to be really looked at, and let me just read off a few of them. I mean, not only are you in a multi-stage audition process, that's going to take you months and months and months. You have to also look at what's happening to your production of your company while you're sitting on a TV set or in auditions preparing and getting yourself ready. I know when I really went like high media, the amount of media training, camera pressure, especially if you're in a Q&A, can you take the heat? Can you take other people bantering with you? Can you take that? Can you answer quickly? Are you fast on your feet? All of these things matter. Some of you, you're scared to death to even have your own YouTube channel like I have, or even post a minute Instagram or TikTok, and you want to be on Shark Tank, which is probably 10 to 15 minutes of fame. If you can't articulate, if you can't be camera ready, willing to do really what they say, because they will script you for entertainment value. So what you wear will all be chose by them. You'll be in a green room, hair, makeup, fake eyelashes, not fake eyelashes, all of it down to your jewelry, I promise you will be picked for you. So are you ready to handle all that? Can you handle all that? Or number three, can you just get out there and do it yourself? So I have made hundreds of millions bootstrapping, meaning I start businesses with pre-orders and deposits. I go out to the market, say, my name's Laurel. I'm a money expert. What do you want to hear from me? I hear what they want, and then I go design it really quickly, and I give it back to them very quickly. So many of you, you have what it takes. Yes, Shark Tank is great, and they'll give you good distribution, but you can also get great distribution with all the AI, the social media, the amount of outlets that are available to you. It's phenomenal. And I want to teach you what's called vendor financing, where you can get financing, where you can get funded by over 500 sources. You don't have to have a good credit score. You have to be fundable. Your idea has to be fundable, and we can get all that done in a few weeks if you're quick, a few months if you're not. So I want you to apply to work inside of our community. Come to our integrated wealth community and pitch us, pitch me, pitch our teams, and we'll see if you have an idea, or we'll see if you have a deal. So in the description notes below, I have an application to be on, I'm not going to call it our Shark Tank, but in our integrated wealth community. Do you want to get your business up to six figures, seven figures as fast as you can? My first business, this one, I was in hundreds of thousands year one, 1.7 million year two, 3.6 million, and we just kept going. So speed is one thing. Distribution is one thing. Depending on what you want, it's another thing. I have access to, again, a lot of Kevin Harrington's resources, him himself. He's an amazing man. His cousin actually does great prototypes if you have an invention. And I kind of have a good Rolodex around here that can help you go less than a half a percent that ever apply. Of the 50,000 that apply, they'll go into thousands that go through this rigorous audition to then less than a half a percent actually make it onto a show. So you can go that route. It's a cool route. I'm not saying don't do it. And in the meantime, join our community. We'll get you there faster. So click on the link below, go to asklaurel.com. If you have any questions, apply to work with us. We're going to put you right into one of our lead interviews and fill out the application. It's going to take you a few minutes. We'll talk to you on the other side. And talk to you all, the rest of you, tomorrow.