Lessons From the TV Show, Shark Tank | TravelResearchOnline

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Lessons From the TV Show, Shark Tank

Although I am not a big fan of mindless television, I sometimes find myself channel-surfing. I recently paused on a show titled, “Shark Tank.” Optimistic entrepreneurs plead their case in front of potential investors in the hopes of gaining interest in the form of “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 certain degree of alacrity, 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.”

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 clients would be better off if they used you.”

I agreed. I saw no differentiating factor worth investing in.
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The same send-off phrase can easily pertain to you and your business. You NEED to spend more time and 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 these guys.”

Pretend that soon you will be a contestant on a televised game show seeking funds from interested investors. What would you tell them in order to capture their attention? What would your opening sentence sound like? What could you say to position you and your company as something different, special, new, refreshing, and one that is worth backing right from the opening bell? What could you say to get strangers interested in investing in your company?

Back to you? What can you say to get people interested in your travel services? Think about it.

Sound simple? Sound easy? Sound oversimplified? Then start crafting your proposition at once. Why you?

This little exercise reminds me of the words of Louis Pasteur when he said, “Chance favors the prepared mind.” What Louie was trying to say was, “Do your homework chump, and get ready to break into your happy dance.”

The stakes are just as high. Start taking your business as seriously as those on the Shark Tank TV Show do.


Mike Marchev Mike Marchev has plenty of stories, strategies and tactics to keep you on top of your game.
Mike will be conducting his 5th annual Travel Sales & Marketing Business Development Cruise, sailing the Freedom of The Seas from Ft. Lauderdale. Email him at mike@mikemarchev.com for complete details. Five cabins are still available.
Mike’s daily column is made possible by AmaWaterways.

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