Know Your Numbers (Shark Tank Tips)

This is post number three in the series – Presentation Tips from Shark Tank. In post one – we discussed Personalizing Your Message. In post two – we discovered that People Buy You. Today’s post will remind us all that we need to Know Our Numbers. As hopeful entrepreneurs present to the sharks they present a valuation on their business. They say, “I’m asking for $100,000 for 10% equity in my business.” – which would be a $1,000,000 valuation. It is only logical that the sharks would want to know why the business is worth $1,000,000. So they ask about the sales (both units and revenue). They want to know what assets the company has, what margin they are operating on and what projected sales and growth will be. Many entrepreneurs enter the Shark Tank and get shot down because they can’t answer these questions. In other words they Don’t
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People Buy You (Shark Tank Tips)

In my first post on Presentation Tips from Shark Tank, we discussed how to personalize your message. The second tip from Shark Tank is that People Buy You. There is a familiar adage in sales and marketing that says, “You are not the message, you are the messenger.” I couldn’t disagree more. Have you ever been to a used car lot and been hounded by a slimy, annoying used car salesman? You can’t tell me that the salesman doesn’t affect the sale. This principle is true across the board. -The students buy the teacher first. -The audience buys the presenter first. -The shark buys the entrepreneur first. So let’s change the adage – “You are the first message people buy and you are the messenger.” On Shark Tank you will often hear the sharks say, “I love you and I would love to do business with you…” What are they
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Presentation Tips From Shark Tank (1)

My favorite show on TV is Shark Tank. If you haven’t ever seen it – it is a reality TV show where hopeful entrepreneurs pitch their business/product ideas to millionaire and billionaire investors – inviting them to invest in their companies with their own money. These investors include Mark Cuban (Owner of the Dallas Mavericks), Daymond John (Creator of FUBU) and others. I am an entrepreneur at heart. I love seeing innovative ideas and people who are creating something from scratch. I love the sacrifice and the passion. I love the negotiations and the valuation process of a pitch. But the thing that I love the most about Shark Tank is what we can learn about giving presentations from the entrepreneur’s presentations. When I was in High School I competed in an entrepreneurship competition against 10,000 other kids. In the competition we had to conceive of a business, write a
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Needs, Fears and Victories

Last Friday I had a chance to mastermind with a group of amazing speakers. I came away inspired and empowered with new ideas and strategies. One of the philosophies that was shared by Chad Hymas is something that everyone who is in business should consider. Chad asked the question – What Are The Needs, Fears & Victories of Your Clients? Think about what you do and ask yourself these three questions: 1. Am I successfully meeting the needs of my clients? 2. Do I know what my clients fear and can I help them overcome it? 3. What victories have my clients had in the last year that we can build on? It is in the needs, fears and victories of our clients that we find ways to add value. It is in the needs, fears and victories that we find ways to be relevant by providing unique solutions and
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How To Tell A Story That Moves People

(Book Excerpt From The Power of Storytelling – https://bit.ly/17T5ctj) Great storytellers focus on the audience. They have done their homework, they know who they are speaking to, and they pay close attention to how the audience is responding, whether through their words, their laughter, or through their eyes and body language. Only when you truly know your audience can you make your message about them. That is what creates influence, and the most important facet of making it about them is to tie your message into their primary motivations. If you find out what drives them, what their hot button is, and make your message align with that drive, you are golden. Researchers have identified four primary categories that motivate people. I call them the four P’s: Pleasure, Prestige, Payoff, Productivity. As we examine them, it’s easy to see how each has universal appeal. Pleasure – People naturally seek enjoyment.
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How To Engage Your Audience/Prospect

(Book Excerpt from The Power of Storytelling – https://bit.ly/17T5ctj) As an influencer your purpose is to do one thing: engage the audience. What do you think it means to engage? According to Webster’s, to engage means to cause someone to be involved; to attract their attention; to engross them. If you are teaching, leading, selling or speaking, your purpose is to engage your audience. Above all, you want to grab their attention and get them involved. Your prospect, client, customer, employee, team member, or student has to be engaged or they won’t buy your product, act on your idea or implement your plan. Without engagement, there is no influence. In the spirit of engagement, I believe that we should move from giving sales presentations to having sales conversations. There’s a huge difference between the two. A sales presentation, by definition, is a monologue, while a sales conversation is a dialogue–it
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Be Interested, Not Interesting

If you have read my book The Power of Influence or heard me speak you have heard me share the idea that we should focus on being interested, not interesting. Influence comes from making it about them and when we are genuinely interested in someone else they will love us for it. My friend John Milton Fogg (Author of The Greatest Networker in The World) told me a story the other day that illustrates this idea. Years ago the Editor of Psychology Today was writing a book. As part of his research, he purchased a first class ticket from New York City to Los Angeles. He knew he would sit next to someone on this six hour flight and his task was to only ask questions. He wouldn’t volunteer any information about himself, instead he would do his best to make the conversation all about them. When they landed in
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