10 Tips For How To Succeed On Shark Tank (Great) Tips For Any Investor)

Season 8 of Shark Tank has begun. To date, 253 teams scored and 242 failed. Science of People, Vanessa Van Edwards, studied what made a winner (and loser).

1 - Know Your Numbers

Investors are all about the numbers. 64% of those who failed on Shark Tank messed up on their math or asked for an unbalanced equity split. Math matters more than anything else when looking for an investor.

2 - Confidence Counts

You can’t just sound good; you have to look good. Good posture while looking relaxed can help you get an edge. When rated, successful contestants averaged a 3.93 rating, while unsuccessful ones scored lower at 3.83.

3 - Humor Pays

When analyzed, it was found that successful deals averaged 2.15 humor moments. Unsuccessful deals averaged 1.93 moments of humor. Of those ten entrepreneurs who scored the biggest deals throughout Shark Tank’s history, four made investors laugh.

4 - Take The Time You Need

Although Kevin O’Leary warns that “Bad things happen when you leave the Shark Tank,” the reality is that 42 entrepreneurs of the 253 who scored deals left the Tank before striking that deal. While only 13 are left (of 242) before getting a pass on their idea. If you need more time, ask for it.

5 - Hand On Helps

Even Sharks like to play with things. A whopping 81% of successful pitches were interactive, even if that meant just touching the product. If your product is not interactive, make your talk interactive.

6 - Make That Connection

Successful entrepreneurs often heard one of the Sharks comment that they could relate to the contestant. Do your research, but don’t rely on gender breakdown.

7 - Vocalize

Your tone should be consistent and relaxed. Practice and deep breathing can help keep your voice steady. Avoid sounding monotonous or having your voice break.

8 - Captivate Your Audience

The Pique Technique is a psychological principle that states that humans always prefer the unexpected. 63% of successful pitches on Shark Tank employed something unexpected.

9 - Tell A Story

30% of successful deals included some story. Stories provide context and captivate interest. You want the potential investor to invest … in you.

10 - Your Entrance Matters

45% of those entrepreneurs who scored a deal entered with a smile. The numbers rose for those who followed with a nod of “hello.” First impressions matter, even to the sharks!