Litter Jewelry on Shark Tank – Not Greedy
One of my favorites shows in the world is the ABC show called Shark Tank where various entrepreneurs have the chance to present their hard worked ideas to a group of individual investors called sharks. They are really angel investors who want a nice return on their cash investment. Time after time on the show I see the investors themselves taking a nice interest in the business to a point where they enjoy working it and growing it further than they probably would have if they simply handed over a check and said bring me my money in 12 months.
On a recent show, two ladies presented jewelry they had designed – sort of a string chain pieces for head, arms, legs, and neck that were really quite attractive. They called themselves Litter Jewelry – catchy name as well. They are already doing pretty well and both are designers and their interest really was to keep designing and get someone smart in the marketing end to get their jewerly out before the public.
Seldom do you see it on this show – where someone pitches a 70% controlling interest in the company for the cash the entrepreneur is asking for – but that is what happened on this show. And normally the entrepreneur doesn’t take anything over 50% controlling interest. But these two “designers” weren’t greedy.
They wanted to get their jewelry out and they knew that if they played their cards right they would walk away with a good deal. I thought they did very well – with the 70% shared by Daymond John and Mark Cuban. Wow! That is incredible because one is a guru in fashion and manufacturing and the other is a guru in Internet marketing. Home run.
And the girls get what they really want – the opportunity to keep designing and continue their line of jewelry. It could have died if they were too greedy!
Many times it pays to let someone else do all the work that you have no clue how to do and take a huge pay cut knowing that your brand will be promoted FAR quicker than you could have done the work yourself, or in this case, even had paid someone to do the work for you – they ended up with two dream entrepreneur millionaires to assist them.
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