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Negotiation Clinic by Lori Greiner on ABC’s Shark Tank
Inventor Extraordinaire Jared Joyce was first up in the Shark Tank. He was on the show to pitch his product called Five Minute Furniture. Five Minute Furniture has an innovative connection system that does not require tools. It is as simple as slide and lock in with a special piece. The product was attractive enough to get Lori Greiner interested, but only for 100% buyout. Greiner did not want to partner with Jared Joyce at all, to … Read entire article »
Filed under: Business Tips, Business Valuation, Negotiation
Shark Tank Tricky Business Valuations & Profit Margins
First up on ABC’s Shark Tank is Last Lid (@LastLid). The proprietors of Last Lid are Melissa and Kevin Kiernan of Waldwick New Jersey. Their product is a fabric lid that covers outdoor garbage cans, and prevents them from being tampered with by animals. The Kiernans have a problem where their garbage cans are frequently tipped over by raccoons and other foraging animals. After finding no suitable replacement at local hardware stores, the Kiernan’s developed their product. … Read entire article »
Filed under: Business Tips, Business Valuation, Negotiation
Leverage is Key to Winning Negotiations Shark Tank
Having the leverage in a business negotiation is fleeting, and needs to be leveraged before it is lost. That was a key lesson in this episode. First up in the show was Ivory Tennelle from Irvine, California. Ivory Tennelle is the creator of the the Swilt. The Swilt is a combination Hoodie Sweatshirt with a fold up blanket portion. When the blanket is folded up, it looks like a baggy sweatshirt. With the blanket unfolded, Mark … Read entire article »
Filed under: Business Tips, Business Valuation, Negotiation
Leveraging Multiple Offers in Negotiation & Valuation Lessons on ABC’s Shark Tank
First up in the Shark and a great example of negotiation leverage spawned from Multiple Offers is Travis Perry. Perry is the owner of ChordBuddy, an innovative training product that is like training wheels for learning the Guitar. You can buy ChordBuddy on Amazon. As Travis Perry points out, playing the guitar has a real high ‘cool’ factor, to which Robert Herjavec identifies with, and is commensurately excited. The Sharks ask Travis Perry about the sales figures for … Read entire article »
Filed under: Business Valuation, Negotiation
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