The following are actually REAL negotiations between entrepreneurs and investors (Guppies & Sharks). The sharks invest their own money at their discretion. The guppies get devoured into a belly of finance, or spit back into the ocean of hard knocks to fend for themselves. The entrepreneurs must convince the sharks to invest the FULL AMOUNT, or walk away with NOTHING.
THE GUPPY: Andy Humphrey
THE COMPANY: Ecomowers
WEBSITE: ecomowers.com
SYNOPSIS: Ecomowers is the worlds most eco friendly lawn mower.
SEEKING: $90K for a 20% stake
PRODUCT/SERVICE: Ecomowers allows you to mow your lawn without polluting the environment or sharpening the blade. It requires no gas, no batteries, and is completely silent.
WHAT'S THE SKINNY?: This is a prototype mower, he has no sales of the actual Ecomower, but he has sold the old push mowers online for up to $350K in sales.
STATS: Daymond is definitely out. He just doesn't get this whole reinventing the bicycle thing at all. Robert doesn't think it makes since for him and he's out. Barbara doesn't have confidence in the Ecomower name and she's out. Kevin is confused and not that interested and he drops out. Jeff is out as well. Now Andy wants to know if he could have done 1 thing better what do they all suggest. Robert tells him to not ask to get investment in a product you haven't sold a single one of. The Ecomower prototype has no sales. Andy walks out with no investment.
CAME IN SEEKING: $90K for a 20% stake
WALKED WITH: Nothing.
GRADE: (Guppy): D-
GRADE: (Sharks): Not Applicable
COMMENTARY: This guy actually managed to get $350K in online lawn mower sales before he improved the very product he was selling. If he would have invested that money into his prototype and gotten a few sales, I believe he would have had a whole different story. Now if can only repeat what he did in sales with the Ecomower. Good luck Andy.
"Success is simply a matter of luck. Ask any failure."
- Earl Wilson
- Earl Wilson
CHECK OUT THE SHARK FINS SECTION FOR ARTICLES AND INTERVIEWS. ALSO CHECK OUT THE SHARK TEETH SECTION FOR HELPFUL TOOLS OF THE TRADE.
WHAT DO YOU THINK? COULD HE HAVE GOTTEN THE SAME CAPITAL (OR HIGHER) WITH A LOWER STAKE? WHERE THE SHARKS FAIR IN THEIR NEGOTIATIONS? DID BOTH PARTIES COME OUT ON TOP? POST YOUR COMMENTS AND TEST YOUR NOODLE AT THINKING LIKE A BILLIONAIRE...........
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