Thinking of pitching your business on Shark Tank? Here’s a secret weapon to increase your chances: anxiety!

Ever imagined stepping onto the Shark Tank stage to pitch your business? The thought might sound thrilling, but the reality of presenting your venture can be nerve-wracking. Surprisingly, harnessing that anxiety could be your secret weapon to success!

A study from Washington State University has revealed that entrepreneurs who channelled their pitch anxiety into a display of their passion for the venture saw better results. When entrepreneurs linked their nervousness to their deep investment in the project, judges rated their presentations more favourably and were more inclined to recommend them for funding.

This technique, known as emotion reframing, involves entrepreneurs acknowledging their anxiety as a sign of their commitment to the project. Conversely, those who opted for strategies like suppressing their anxiety or distracting themselves didn’t fare as well.
From jitters to jackpot: How reframing anxiety can win over investors
Lead author Lily Zhu, a researcher with WSU's Carson College of Business, drew on insights from psychological research into emotional regulation. Together with the research team, they crafted a three-part study to delve into how anxiety affects entrepreneurs pitching for funding.

The first phase of the study involved surveying entrepreneurs about their pre-pitch anxiety management techniques. The findings revealed that most opted for distraction or physical strategies like deep breathing. Only 12.2% of respondents attempted to reframe their anxiety positively, while 14.3% tried to detach from the emotion altogether.

In the second phase, the researchers gathered feedback from both participants and judges before and after pitches at new venture competitions held at two southern California business schools over three years. They discovered that judges rated student entrepreneurs more favourably if they had reframed their anxiety as a reflection of their passion for their projects.

For the final phase, the team conducted an experiment with around 100 college students enrolled in a business communications class. The students pitched for funding for a cause they cared deeply about and were randomly assigned to either distract themselves from their anxiety or connect it to their strong feelings for the charity.

Judges found the pitches from students who reframed their anxiety as a sign of their dedication more persuasive and were more inclined to recommend funding for their causes.
These findings underscored that while anxiety was evident in all pitches, only those who connected their anxiety to their passion turned it into a strength. Zhu emphasised that while fundraising is a significant hurdle for entrepreneurs, the anxiety it brings can actually highlight their deep commitment—a quality that judges and investors can recognise and appreciate.

The findings were reported in the Journal of Business Venturing.