Shark Tank
1-on-1: Shark Tank entrepreneur Kevin Harrington on the perfect pitch
Infomercial guru Kevin Harrington of ABC’s Shark Tank offers tips for navigating treacherous entrepreneurial waters.
Erin Casey December 17, 2010
In 2009, the savvy investor came out from behind the camera for ABC’s Shark Tank. In 2010 he teamed up other super-successful entrepreneurs and motivational experts for a 20-city tour called Empower 180. At the one-day events, attendees have the chance to pitch Harrington their product ideas and learn from some of today’s top business leaders.
Harrington is also a co-founder of the Entrepreneurs’ Organization (formerly the Young Entrepreneurs’ Organization) and the Electronic Retailing Association, two networking groups that provide resources and support to entrepreneurs around the globe.
Here, Harrington shares advice on overcoming fear, choosing the right partners and mentors, and believing in yourself.
SUCCESS: Pitching an idea to a group of strangers can be intimidating—especially on a show like Shark Tank. How can people push past that fear and offer a killer presentation?
Kevin Harrington: I was a little intimidated the first time I went to the Shark Tank set. There was a crew of 175 people, including Mark Burnett and all the top Sony and ABC execs. It was a million-dollar production. I shoot low-budget infomercials, and this was huge.
But then I thought, “I’ve been a shark for 25 years. This is what I do.” My confidence came back when I zeroed in on the entrepreneur walking down the hall. I focused on what he was pitching. I put blinders on, and at the end of the day it didn’t matter how many cameras or people were on the set.
I positioned myself as understanding that none of the others have my same experience. I’m the product guy, I’m the expert.
So my advice to the person making a pitch is to forget about the people and the cameras, and believe in yourself and in your product. Don’t worry about the millions of viewers. At that moment, all you have to do is talk to us and convince us. Do it just like you’re talking to your banker—with your excitement and your belief in yourself.
My advice to any salesperson is to prepare yourself by doing your pitch in front of a camera or a mirror. Do your presentation for your spouse or your kids. Practice. Don’t go in cold.
Infomercials take a message from one person to thousands. They make the pitch scalable. How can entrepreneurs make their businesses scalable?
KH: I always say, “If you do what you’ve always done, you’ll always get what you’ve always gotten.”
In 1990, I had a library of infomercials that had run their course in the United States. That’s when I thought, “In the movie business, they take films outside the U.S. Why can’t I do that with infomercials?” We did, and the business grew to $500 million on a global basis in a couple of years.
You can’t just sit and do it the way you’ve always done it. Get motivated to see what you can add to what you do currently to expand your markets.
In your book Act Now!, you note that infomercials can boost the sales of other similar products in stores—not just the brand you’re selling. How do you differentiate your product or incentivize customers to buy your brand and not a substitute?
KH: We stress that we are the original; we are the brand. A good example is the Snuggie. They got it across every spectrum they could right away—collegiate, child, pet—they didn’t let knockoffs come in. When they went to the retailers, they said, “We’re going to give you the original, but if you sell other brands, we can take our brand out of your store.” And by the end of 2009, they sold more than 20 million units.
It’s all about the quality of the relationship, the quality of the product and the continuity of the brand.
How has the Internet impacted your business model?
KH: It’s a double-edge sword. We get knocked off quicker, but we also use the Internet to drive massive amounts of sales because we can get into places we couldn’t get in before. It has also given us a platform for new ways to launch products, with webcasted shopping channels, and to develop relationships.
You’ve worked with a number of different people through the years. How do you choose the right people or companies with which to partner?
KH: Picking the right people to work with is important. I believe you find those people by networking, being on boards, getting involved with associations and being on committees. It’s amazing how many times I’ve started working with people because I’ve spent time with them in a different environment.
What advice can you give to entrepreneurs and business leaders who may be facing challenges in their businesses?
KH: Go to people who have been there before, and seek advice on what they’ve done. Develop great relationships with your bankers and accountants; get mentors who can advise you.
I utilize people outside my company. I’m not afraid to pick up the phone to have someone help me work through issues. A lot of times you have to get out there and network with the people who can help you in times of challenge.
Anything else?
KH: I love this quote from Paul J. Meyer: “Whatever you vividly imagine, ardently desire, sincerely believe and enthusiastically act upon must inevitably come to pass.” When I understood that, I began waking up every morning and saying that quote, and I believe “It’s going to happen.” That’s how I overcome my fear, and that’s how I live my life. It doesn’t mean you’ll get it every time. Sometimes you have to reboot or hit the reset button and start over. But eventually, believing it and acting upon it make it happen.
GetMotivated
I attended the getmotivated seminar in grand rapids the past week, and here is some tidbits I took away from the program
Speaker: Lou Holtz
“you’re either growing or you’re not”
3 rules to live by
1) do the right thing
2) do everything to the very best of your ability
3) the golden rule- treat others how you want to be treated.
3 questions people care about
Can I trust you?
Are you committed to excellence?
Do you care about me?
3 rules to guarantee happiness:
Something to do, someone to love, something to look forward to.
“I was always worried about building a great “team”, not a team of greats”
Speaker: Howard Putnam
3 things to have for success:
1) Mentors
2) Role models
3) people w/ like minds
Speaker: Krish Dhanam
Zig Ziglar, put one foot in hot boiling water, one foot in cold freezing water, on average you’re miserable.
2 statements to think about at the end… I wish I had OR I’m glad I did.
DRILL, DRILL, DRILL, DRILL, SKILL.
Stake your claim, fulfill your promise.
-Restore Relationships-
Agape-unconditional love.
Jesus ruthlessly perfects to royall elect
Rights vs Responsibilites, revival
All men dream, but not equally
97% comfortable, 3% effetive, you only grow when you are uncomfortable on “the edge”
Desire to be a game changer
as with all things date before you marry.
good company vs good company right now
disposition, margin of safety
The ancient greeks asked one question when you dided. Did he have passion?
Speaker: Allen Andrews
Allen Andrews promoted day trading. They were obviously the sponsors.
Speaker: John Walsh (america’s most wanted)
His 6 year old son Adam was abducted and decapitated.
he believes in
Free will/Higher power
doing the right thing.
heartbreaking story, was able to do a lot of good for the world, and make the world a safer place.
Speaker: Krish Dunham q&a session
“Man was designed for accomplishment, engineered for success, and endowed with the seeds of greatness.”
– Zig Ziglar
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Failure is just succeeding at the wrong things.
IQ, EQ, SQ
intellectual, emotional, spritual
origin, morality, purpose, destiny.
transform -> destiny
top authors
john maxwell
stephen covey
billy graham
Speaker: Rudy Giuliani
Made to succeed: read, listen, write, stop & think, be good to other people.
3% vs the other 97%
Exponential power within you.
be extraordinary, be abnormal
3% make it.
Best time to get ahead is during a train wreck.
Today is the first day of the rest of your life.
Nobody’s better than you.
When you give yourself away, thats when success finds you.
americans consume too much coffee and soft drinks and 23 hours a week to tv.
Be the movie you wanna go watch. Become the movie.
Life is just a game & you need to be in it.
Speaker: Kevin Reynolds
Your past is not your future.
Your today is not your tomorrow
What is your purpose?
Committment to yourself.
Speaker: Colin Powell
its not where you start in life, its where you end up & what you do along the way.
Basica principles
Have goals, a purpose, and a mission
have a sense of your missions & goals
Whats your mission?
How to get there?
Set goals.
Sense of purpose, believe
be passionate
Recognize the value of each person, employee. write letters.
keys to success: integrity, ethical, selfless, & an environment of trust.
has worked through afghanistan, iraq, 9/11, middle east
Reagan has supreme self-confidence; not egotistical, not arrogant.
and a confidence in America.
Speaker: Terry Bradshaw
Realizing a dream there isn’t always a clean path.
Realize your self-wroth, be happy.
We find out where we are, who we are whe we struggle, when we fail.
its the simple things.
1) The biggest threat to your future is the past you won’t let go.
2) you can’t make $ and excuses at the same time
3) Its not about THINGS getting better, its about YOU getting better, & getting out of your own way.
4) What you see depends on where you sit.
Change.

