I am now obsessed with Shark Tank, I watch the show back to back (hey hubby) and I love how shrewd, focused and practical the sharks are when it comes to making investments with their money. I think women can learn alot from that too, we need to learn to invest our time and emotions with wisdom. A shark can afford to lose a few millions, can you afford to lose a few years??
First of all before giving "all of me" to someone's dream- you need to look at the viability of the project or the credibility of the person. I will give examples.
This past weekend was the Made in America festival and the headline performer was the Queen Mother- Beyonce. The show was live cast exclusively on Tidal. Tidal was a crummy investment- in my opinion. It cost Nicki a VMA because they exclusively put the "Feeling myself" video on it. If a kid in China or Russia decides they wanna see this exclusive content and not pay the fees- guess what? They will find a way and share it with the likes of me. Enough about Tidal. Anyway, Beyonce believes in and wants to support her man in this disastrous venture, so she put on her leotards and danced her azz off on her birthday weekend! Jay has credibility, so she can give herself to his mission impossible vision.
Secondly, you need to think about what you are going to benefit and also add to this expedition. The Sharks will sometimes walk away from great projects simply because they feel that they cant add anything to this venture. Kris and Caitlyn/ Bruce work so well together because they are both media slores. Imagine if Bey married an investment banker? If you are an auditor and you meet a guy who wants to be an astronaut, apart from pray for him, how will you actually be of use and vice versa? Where will aerodynamics help you be a better bean counter? Personally I would like my SO to be a reduction to a cost centre I have in my various entrepreneurial projects, eg finance, engineering, IT, get the drift! #mustlovenumbers #doitforthekids
Lastly, look at commitment. Kevin O'Leary, ironically dubbed Mr Wonderful is the meanest shark of all, asked a 9 year old entrepreneur to drop out of school to pursue her business on a full time basis. Mark Cuban also asks those who come into the tank if the project they are pitching is what they do on a full time basis. In the same way, how committed is this person to what they want to build? Do they flaunt like a month end millionaire, or invest a huge part of their salary in their plans?If its the former then you need to tell him "I'm Out".
|Mikaila Ulmer is the CEO and Founder of BEE Sweet Lemonade|
I hope this has outlined the difference between holding down a a pipe dreamer and raising up a king. Kings have a clear vision for a Queen to support and scale. If he can show traction, credibility/feasibility and commitment then you have a deal!