Unlocking Success: Embracing The Opportunities Of A ‘Shark Encounter’ In Your Career
Okay, so I’m a little, actually, very late to the whole #sharktanknation. Shark Tank first aired in 2009, and I am almost ashamed to say I had never watched an episode until last year. Interestingly enough, after watching just one episode, it got me hooked!
In case you aren’t familiar with this “structured” reality show, here’s how it works, according to the ABC website: The sharks — tough, self-made millionaires and billionaire tycoons — are looking to invest in America’s best businesses and products. The sharks will give people from all walks of life the chance to chase the American dream, and potentially secure business deals that could make them millions. In short, you make a pitch, and if they “bite” (i.e. choose to invest), you have a chance of a lifetime.
In a similar way, I believe we all need to invite “sharks” into our world from time to time and make our “pitch” to them about career goals, entrepreneurial ideas, building quality relationships, or even our plans for maintaining our personal well-being. It would give us the clarity and confidence to move forward, or challenge us to rethink our intended direction.
As I reflect on my own situation, I can think of several sharks who I have talked with who caused me to make monumental changes in my thinking or intended actions because of their priceless insight. One helped me realize I was trying to be “everything to everybody” in my business, while another showed me that my long term financial plan was headed in the wrong direction. Yet another enlightened me on how to be a dad who raised girls with a healthy self-image.
When I think about what makes these “shark encounters” so valuable for our professional and personal growth, five things come to mind:
They are brutally honest.
Who do you seek out more? The people who agree with what you plan to do, or those who will offer an objective and honest perspective? It’s painful to watch the participants on Shark Tank squirm as the sharks tell of the fatal flaws of their idea or the limited potential of their company, but they need to hear the truth. And so do we.
They ask the right questions.
Each time a shark starts asking about marketing channels, company valuation, or how they plan to grow their company, I find myself asking those same questions about my own business. Even if the focus of our idea is not business related, sharks know what questions to ask to find out if we are really serious about moving forward with something… or just giving it a passing glance.
They see the big picture.
One of the favorite phrases used by a shark in my life, Dr. Marshall Stewart, is, “Where do you want this plane to land?” If you find people who can see further down the road of an idea because they have been there before, you can avoid spending an enormous amount of energy on something that may not have the result you planned. Or they might give you a more efficient road map than the one you have created. Besides, we’re often too emotionally attached to an idea to see things from a broader perspective.
They have benefited from the advice from a shark.
For Howard Schultz, CEO of Starbucks, it was Jim Sinegal. For Suze Orman it was a teacher in India. All successful people will tell you of someone who got really honest with them and what a profound moment it was in shaping their career or a life choice. Because those words were of such high value to a shark, they are often willing to share similar thoughts with you.
You benefit just by interacting with them.
One participant on a Shark Tank episode accepted an offer from Mark Cuban even though it was for significantly less than his original offer to the sharks. His comment after the show was something like, “I know the value of hanging around someone like Mark.” I also consistently find that a conversation with anyone who is accomplished in their field yields new insights and direction for me, regardless of their industry or profession. I am reminded of Jim Rohn’s brilliant quote, You are the average of the five people you most spend time with.
Thankfully, you don’t have to complete a complex application or appear on a national TV show (yet) to get the advice of a shark. You simply need to have some idea or thought churning within you, and find the right person to listen to you articulate your plan. Just like the show, the shark will take it from there.
Of course, there are those who come on the show, make their pitch, and turn down offers from a shark. Derek Pacque, of CoatChex, turned down a $200,000 offer from shark Mark Cuban and went on to success with Chexology which grosses between $1 and $10 million annually. Justin Kittredge of ISlide, turned down a $500,000 offer but benefited from the exposure and went on to create a company now worth around $20 million. Inviting a shark to “chew on” your idea or plan might be scary, but its also a proven way to improve your chances for success.
Where do you need to invite a shark into your “tank” to evaluate a goal or idea?
