Whether you started watching Shark Tank India because of your love for entrepreneurship, the memes that were all around the internet, FOMO or just came across an episode while scrolling through social media, there are a lot of lessons you can learn from Shark Tank India. Today, we are going to look at a few of them.
1. It's important to have 'expertise'
The internet was flooded with the 'ye meri expertise nahi hai' memes. And it is all fun and games but a very important business lesson to learn nonetheless. When you don't have any idea of what's going on, how do you plan to achieve success in that field? So, if you don't have the expertise, it is alright to say 'main out hoon'.
2. Passion drives success
Pick any episode of Shark Tank India, and notice which entrepreneur the sharks tend to invest in. And you will notice there's one thing common in all of them - they are all driven by passion. Irrespective of whether you are an entrepreneur or an intrapreneur or at any other level being passionate about the work you're doing leads you to success.
3. Presentation is the key
Suppose you were served two dishes, one which looks stunning and one which looks like a shit pile. Which one do you choose? Obviously, the beautiful looking dish. Sure, the less-appealing dish might have tasted better but how would someone know that without trying?
Similarly, for people to be interested in what you're saying or doing, you should present it in a way that grabs their attention. Some of the entrepreneurs that appeared on Shark Tank India presented their ideas so well and their pitches were so interesting that sharks ended up investing in their products. Even when you're applying for a job, present your resume in a manner that, at the very least, no one can say no to giving you a call.
4. It's important to have clarity in life
Everyone wants to become successful, but only a few people know what they have to do in order to achieve success. The Shark Tank India judges appreciated the contestants who showed clarity in their thinking as well as business plans. Similarly, we can learn to find clarity in our thoughts too, because clarity gives us confidence, and with confidence, we can achieve anything.
5. Being persistent is the key to success
If you are persistent, you can move mountains or, at least, get a deal from Shark Peyush Bansal. Jugaadu Kamlesh is the best example of how persistence can take you a long way. He worked on his product for 7 years before he got the chance to present it in front of the judges. People discouraged him, but he never stopped, and that's the key to success.
6. You'll learn more from failing than from winning
The contestants' journey showed us the struggles they faced before they were they even got the chance to present their products. Similarly, Shark Tank India judges also faced many failures before they reached a level where could invest in other people. Shark Peyush Bansal started so many companies before Lenskart became big, and Shark Vineet Singh started different ventures that failed before Sugar Cosmetics worked out.
You learn more from failures than you can ever learn from successes. Never stop because something you started, and it didn't work out. Instead, try to figure out ways that you can make it work.
7. Having the best resources is not the only way to grow
Let's say you have a million-dollar idea, but if you can't take the first step and start, what good would that idea be? To put it bluntly, stop feeling bad for yourself and start working. The only way to reach your destination is by taking the first step. You might not have the best resources at the moment, but you do have some resources. Make use of them, better things will come along the way. Just like Kamlesh did and created the pesticide trolley.
8. If you want to make a difference, find a problem to solve
Shark Tank India made us all want to try our hands at entrepreneurship. If you are in the same boat, try to find a problem to solve. Identify a problem that people are facing and see what you can do to solve that instead of creating something and then try to find a market for it.
9. Investors invest in people more than the idea
Remember the 19-year-old who presented his startup Watt Technovations on Shark Tank India? His product was not fool-proof but he still got investment from the Sharks. The same happened with Sid07 when Peyush Bansal invested in him. This goes on to show that investors invest in people more than their products.
10. Be receptive to feedback
You need to constantly change yourself in order to grow. How you can do that? By knowing what to change. And how would you know what to change? By analyzing yourself and by receiving other people's feedback. It doesn't matter whether the feedback is coming from a superior or a subordinate, if it is genuine, you should incorporate it into your life.