From Pitch to Profit

As we look forward to new updates and interesting videos talking about the Annual Meeting of the World Economic Forum (WEF), let’s delve into a pressing concern that has been making headlines. A string of layoffs at major companies such as Amazon, Meta, Microsoft, and soon Alphabet, have been reported. It’s evident that this year comes with its own set of challenges, but as they say, when the going gets rough, the tough get going.

It’s almost as if it’s a bizarre coincidence that while we learn about layoffs, we are also seeing stories of people earning 50-70% profit by selling their apparel brand or other businesses they set up during the pandemic. Leaving aside all the conversations and commotion about how worthy sharks on the Indian version of a popular reality show are, I love how it is giving a platform to people who are coming out of their comfort zone or perhaps very comfortable in challenging their challenges. Truly, there is more talent in India, than singing and dancing 😉

Despite Anaisha’s constant interruptions in the background, Amlesh and I make sure to catch the episodes. And on days when we’re too drained to argue with our daughter, we catch up on what we missed during the weekends 🙌

We are also fond of the original version of this show that has been on the air for over a decade and thoroughly enjoy the drama and negotiations that take place during the pitches. One of the strengths of Shark Tank is its diverse panel of Sharks, which includes successful entrepreneurs and investors from a variety of industries. This gives the show a wide range of perspectives and expertise, which is valuable for both the entrepreneurs and the audience. The entrepreneurs come from various backgrounds and present a diverse range of products, ideas, and services, making the show interesting and varied. Entrepreneurship can be a challenging, but ultimately rewarding path. It requires hard work, dedication, and a willingness to take risks, but the potential rewards can be significant, both financially and personally.

We can agree to disagree, but the show is entertaining, as the pitches are often dramatic and the negotiations between the Sharks and entrepreneurs can be intense (quite comical as well!). It’s not even with you, Amlesh and I also have our differences while siding with sharks. While I personally like how Aman brings his own pun and punches 😍 while Amlesh is a hardcore Peyush fan! Almost, after every deal, my husband says this is how negotiations are done 👌

Well, there is also a certain aspect of the show that does feel unrealistic and might not accurately depict the realities of starting and running a business. Adding to the fact that the show is heavily edited, the final outcome of the pitches may not always reflect the actual outcome of the deal. Nevertheless, Shark Tank is an entertaining and informative show that offers a unique insight into the world of startups and venture capital. The best part of the show is the pitches that make a must-watch for us. However, it is important to keep in mind that the show is a form of entertainment and not always reflective of the realities of running a business.

One of the things that I have picked up for myself from this show is to get better at my negotiation skills. Hence, I am currently reading “Never Split the Difference: Negotiating As If Your Life Depended On It” a book written by Chris Voss, a former FBI hostage negotiator. Oh boy! if you don’t have this book then you are missing out on getting the most out of any deal/conversation. I am still on a journey towards fully grasping your BATNA, but I can confidently say that it is a valuable asset for anyone looking to sharpen their negotiation skills.

Cheers

Bibliophile Parul