Lessons From The Shark Tank (TV Show)
Although I am not a regular fan of mindless television shows, I found myself channel-surfing recently when I came across The Shark Tank. Hopeful entrepreneurs plead their case in front of four potential investors in hope of gaining some “cash” in return for giving up a percentage of ownership.
One fellow approached the panel and suggested that his new idea would (could) compete with FedEx. Politely, but with a modicum of terseness this fellow was dismissed, sans monetary contribution. He thought he offered something different, but what he was really doing was saying, “Me-too, me-too.” He failed to garner the attention or interest from any of the potential investors.
The send-off phrase that caught my attention, (and made me think of you) was the following: “I don’t see any real differentiation. You don’t have a tightly focused positioning statement that CLEARLY infers that anybody would be better off if they use you.” I agreed.
And so it goes my travel agency brethren and brethrenettes. With so much commonality in your business, you NEED to spend more time and concentrated effort in defining your TRUE competitive edge. You NEED to arrive at a positioning statement that makes your audience say, “I get it. I want to work with this outfit.
Let’s play a game. Pretend that you will be a contestant on the show and that you will soon be seeking funds from interested investors. What would you tell them to capture their attention? What can you say to position you and your company as something different, special, new, refreshing, and one that is worth backing? What could you say to get strangers interested in investing in your company?
Think about it.
Sound simple? Sound easy? Sound over simplified? Then start crafting your proposition at once. Why would I be better off with you as my travel agent?
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