Crafting a sales pitch can be difficult. You’re never sure what’s going to work, but if there’s one thing from the Shark Tank sales pitch that’s certain – you have to grab the potential buyer’s attention immediately.
For ABC TV’s Shark Tank sales pitch, it is clear from the first moment whether or not their pitch is going to make the cut. Watching entrepreneurs pitching their big ideas to successful investors is like taking a lesson in what to do, and what not to do, in making a good first impression in your sales pitch.
Heather-Anne MacLean breaks down the five tips for honing your sales pitch based on the Shark Tank in her article, Attack Your Sales Pitch with Tips from the Shark Tank.
- Get Pumped Up. Time for your A-game. The Sharks pay attention to people who are excited about their product or service and know their market.
- Motivate Them. Address your audience’s pain point in a quick and informative way. Author Dan Pink writes in his book, To Sell is Human, that you can transform your sale pitch by understanding the customer’s motivation. On Shark Tank, the entrepreneurs have about 40 seconds to show they have something different that also solves a problem.
- Use Compelling Visuals. MacLean cites an example from Dragon’s Den, the Canadian version of Shark Tank, where a team used gymnasts to demonstrate that the inventors’ new eyeglasses didn’t fall off. Three of the five dragons invested.
- Know When to Make a Deal. Just like on Shark Tank, once you’ve got their attention, and an offer, you have to know how much you’re willing to negotiate. Be prepared to make a deal or walk away.
- Don’t Give Up. The Sharks say it all the time, “Never give up.” It takes time, but keep perfecting your pitch and you’ll be ready the next time.