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These are 10 best advices given by ‘Shark Tank’ starshttps://www.businessinsider.in/life/these-are-10-best-advices-given-by-shark-tank-stars/slidelist/56417037.cms2017-01-09T13:10:04+05:30

These are 10 best advices given by ‘Shark Tank’ stars

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Jan 9, 2017, 13:10 IST

Follow the green, not the dream

Follow the green, not the dream — Mark Cuban made this statement when owners of a business-Baby’s Badass Burgers food truck- wished to open a brick-and-mortar restaurant rather than funding the successful food truck’s transition to a traditional eatery. Mark Cuban advised them to keep doing what’s working as the food truck was already a hit.

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Don’t give up

Don’t give up — Lori Greiner said ‘when the going gets tough, don’t give up. Greiner said as an entrepreneur, you can always find a solution if you try hard enough. Greiner advised Shark Tank contestants not to give up and they must look for solutions to cross roadblocks in their way.

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Don’t allow anyone to intimidate you

Don’t allow anyone to intimidate you — Barbara Corcoran said you are smart enough as anyone is. “I have just as much right to be here as you, I’m just as smart as you are. You might not think I’m smart, but I know I’m smart. Guess what, I’ve done a lot. Don’t you dare look down on me,” advised Corcoran.

Take responsibility of your mistakes

Take responsibility of your mistakes — Daymond John told entrepreneurs ‘own up your mistakes’. You have to come clean and tell your investors why you failed. Be honest with yourself and come clean. Your investors expect transparency and they understand that mistakes happen, but they don’t want to be kept in the dark.

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Listen to your instincts

Listen to your instincts — Robert Herjavec advised Shark Tank entrepreneurs to listen to themselves and do what is right for them. “Remember that everyone has advice but no one knows what you have to go through to start, grow and scale a business until they live it. Talk is cheap, but action speaks volumes,” said Robert Herjavec.

Entrepreneurial life equals freedom

Entrepreneurial life equals freedom — Lori Greiner says you have all the freedom to do what you want to. “The whole point for me is that I love the freedom of being an entrepreneur that I do what I want to do when I want to do it,” said Greiner.

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Keep it simple

Keep it simple — Every entrepreneur wants to make his/her product special but buyers want an easy option. Mark Cuban advised that consumers want to purchase something which is user-friendly. “Make your product easier to buy than your competition’s, or you will find your customers buying from them, not you,” he said.

Solve problems

Solve problems — “Don’t start a business. Find a problem, solve a problem. The business comes second,” said Robert Herjavec.

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Develop a thick skin

Develop a thick skin — Robert Herjavec said entrepreneurs should not be faint hearted. They should be tough and bold. “Tough times never last; tough people always do,” he said.

Business always comes first

Business always comes first — Successful entrepreneurs know how to do good business and take important decisions. They don’t become too personal when it comes to business. “I’m not trying to make friends. I’m trying to make money,” advised Kevin O’Leary.

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