Ok, I know this sounds far-fetched at times but in reality, if you can get on the show, you are a long way ahead of any competition for your products or services. (Scroll down to read what you need to know). 

Any presenter or pitcher is viewed by millions of people and this is the time you really want to look like a true expert in your field. Your business should not be a hobby at any stage of the game, it should be your passion as we mentioned in the last article

Keeping Your Cool While Being Interrogated

If you know your stuff, know your numbers, and know how deep you can cut into your equity. Beef up your ability to negotiate with knowing in advance how far you can go.

Knowing your equity numbers also increases your ability to listen to the Sharks to identify what they think of as a weakness.

Keep cool, listen, and accept the criticism. Don't defend yourself no matter how you feel. Emotions will always get in the way of making the best deal. Yes, you can show your enthusiasm and passion, but don't get on the defensive. If you do, you will lose for sure.

Negotiations and Counter-Offers Since you already know your numbers and you can see the reaction of the Sharks when you do your pitch, be comfortable in making a counter-offer if you find they do not like your current valuation. Knowing ahead of time what you are prepared to offer will keep you in control of the situation. If the offer is ridiculous, and sometimes it is, then counter-offer or turn down that deal.

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Greed and Equity

If you truly want a deal, don't think about how much you are giving up in order to get it. Think about the benefits that each Shark brings to the table. Each has an area where they excel. Tap into that expertise. Don't do a deal for a deal's sake, focus on who brings the most to the table.

The Sharks are there to make money and when they invest in your business, they are also investing in you. They will offer their advice to keep you profitable, it will be your job to listen and take action. When it comes to money, everyone is in for the win. It is not necessarily greed, it is being prudent and putting investments where the money will grow.

 

Taking Action

Before the show, be prepared for your sales to jump and have your systems in place. Even if you do not get that deal, your exposure to the marketplace is gigantic. You never know what a Shark will change their mind and contact you at a later time to negotiate a deal.

Have all your accounting in order and your sales process working for you. Those two things will impress the Sharks.

One last word for this article: Know your market and how big your company could possibly grow.

**Please rate this article and make a comment below.**

Watch for part 3 of this series of Shark Tank advice.

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