Shark Eyes: Conversations With Millionaires by Mike Litman & Jason Oman - Set A Goal To Become A Millionaire

“Set a goal to become a millionaire for what it

makes of you to achieve it.”

He said, “Do it for the skills you have to learn and

the person you have to become. Do it for what you’ll

end up knowing about the marketplace, what you’ll

learn about the management of time and working

with people. Do it for the ability of discovering how to

keep your ego in check. For what you have to learn

about being benevolent. Being kind as well as being

strong. What you have to learn about society and

business and government and taxes and becoming

an accomplished person to reach the status of

millionaire.

All that you have learned and all that you’ve

become to reach the status of millionaire is what’s

valuable. Not the million dollars.

If you do it that way, then once you become a

millionaire, you can give all the money away.

Because it’s not the money that’s really important.

What’s important is the person you have become.”

That was one of the best pieces of philosophy I

have ever heard in my life.

Nobody ever shared it with me like that before.

Another thing he said was, “beware of what you

become in pursuit of what you want. Don’t sell out.

Don’t sell out your principles. Don’t compromise your

values. Because you might acquire something by

doing so, but it won’t taste good.”
- Mark Victor Hanson

Excerpt taken from Conversations With Millionaires by Mike Litman and Jason Oman


Visit the SHARK EYES section for recommended must reads

Watch Shark Tank - Week 1 /Episode 1 - CBS Foods

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 SHARKS: Barbara Corcoran, Daymond John, Mark Cuban, Robert Herjavec, Kevin O'Leary

THE GUPPY: Shawn Davis

THE COMPANY: CBS Foods 

WEBSITE: www.chefbigshake.com

SYNOPSIS: CBS Foods flagship product is The Original Shrimp Burger offered in 4 flavors of original, teriyaki, cajun and jalepeno. 

SEEKING: $200K for a 25% Stake

PRODUCT/SERVICE: CBS Foods flagship Original Shrimp Burgers. 

WHAT'S THE SKINNY? HOW DOES IT MAKE MONEY?: It costs  87 cents a burger and it retails for $1.63. CBS also has a Lobster Slider which has shipped 300 cases. He has commitments from 2 supermarkets for 600 cases of burgers and 300 cases of sliders. To date he's sold over 26,000 burgers. The dollar amount for the orders is $87,200. He has $30K in sales this year. He would make roughly 53% on $100,000 in orders. 

STATS: Some sharks enjoy lobster, crab, and shrimp especially if it's stuffed with enough cash and rolled in dough. Today's special is Shrimp Burgers, a meal which Mark Cuban enjoys, but he's not experienced in the restaurant business and see's no way he can add value so he backs out. Barbara Corcoran just doesn't even like shrimp at all  so she's out. Kevin O'Leary is concerned the profit margins aren't high enough, the protein supply is vulnerable to price fluctuations, and that it is a risky product so he's out. Robert loves the shrimp, but doesn't think the company is worth it, so he's out also. Daymond is Shawn's last chance and he actually loves the tasty shrimp burger but can't seem to get over the evaluation of the company being worth  $800K. Shawn is willing to re-negotiate his equity giving up to 30% from 25%. No bite. He then brings his offering up to a 40% stake for $200K. Daymond just can't get past the evaluation of the company being worth as much as Shawn says and decides to back out. Most of the sharks love the tasty burger, but the appetite for the dollar is much bigger. The shrimp and the guppy is spit back into the ocean of commerce to sink or swim. Shawn may have a wonderful product, but just can't seem to hook the sharks on the investment. Shawn finally walks away with no investment.

CAME IN SEEKING: $200K for a 25% stake

WALKED WITH: Free Publicity

GRADE: (Guppy): D+

GRADE: (Sharks): Not Applicable

COMMENTARY: He may have over evaluated what the company was worth, but if his product was anywhere near as tasty as it was evaluated by the mouths of the sharks, then he is sure to find an investor out there somewhere. Maybe he can get creative and structure the agreement with a royalty that escalates (or lowers) according to units shipped up to a certain amount. I bet Captain D's & Long John Silvers can use a tasty shrimp burger. With the free publicity of Shark Tank on ABC, some restaurants or grocery store chains out there are sure to be placing orders for one of the ocean's most tasty treats. If I owned a cafe' I surely would. The demand of shrimp lovers won't let him down. Hang in there Big Shake!

WATCH SHARK TANK WEEK 1/EPISODE 1 - CBS FOODS

"Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver." - Ayn Rand


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 HE OVER-EVALUATE HIS COMPANY? POST YOUR COMMENTS AND TEST YOUR NOODLE AT THINKING LIKE A BILLIONAIRE...........

Shark Eyes: Conversations With Millionaires by Mike Litman & Jason Oman

Over the years I’ve been asked on many occasions,

“What can I do to make more money and become wealthy?”

This has probably been the most asked question of me

throughout my twenty plus year career.

My three New York Times Best Selling books: Nothing

Down, Creating Wealth, Multiple Streams of Income, and

soon Multiple Streams of Internet Income each go into many

of the specifics to reaching that goal. But, there is something

I always say to the person who asks me that very question.

The answer to the question I mentioned earlier is as

follows. ‘How do you get started on the road to success?’

The answer is, learn from those who have already paved the

path to riches and fortune. Learn from those who have

generated the grand ideas, laid out the vision, assembled a

plan, and fought the adversities that lay ahead of any great

success story. Learn from those who have dropped the

success clues along the way.

In these days of the Internet, information is everywhere.

Getting information is easy. Though getting great

information is tough and often very challenging.

In Conversations with Millionaires, you’ll get life

changing information from some of the most successful

entrepreneurs in America today. All in one book, all at one

time.

This is a book I wish I had 20 years ago when I started

on my own journey to become a millionaire............

- Robert Allen -

NY Times Best-Selling Author of:

Nothing Down, Creating Wealth, and

Multiple Streams of Income

Excerpt taken from the forward of Conversations With Millionaires by Mike Litman and Jason Oman

Forward by Robert Allan

Visit the SHARK EYES section for recommended must reads.

Watch Shark Tank - Week 1 /Episode 1 - Tippi Toes

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 SHARKS: Barbara Corcoran, Daymond John, Kevin O'Leary, Robert Herjavec, Mark Cuban

THE GUPPIES: Megan Reilly and Sarah Nuse

THE COMPANY: Tippi Toes

WEBSITE: www.tippitoesdance.com

SYNOPSIS: A fun energy filled dance lesson that gets children moving and keeps them in shape. 

SEEKING: $30K for a 5% Stake

PRODUCT/SERVICE: 1 out of 5 kids in America is obese, and 80% of elementary schools have cut recess. Tippi Toes is a franchise focused on physical activity, healthy habits, and kids having fun. It basically keeps kids in shape while teaching them dance lessons at home.

WHAT'S THE SKINNY/HOW DOES IT MAKE MONEY?: They sold 7 franchises. It cost's $30K to get in and they target stay at home moms, pre-schools, after school activities and day cares reducing their overhead significantly. Customers pay a monthly royalty fee to the instructors. They create their own music and give them a CD called "Tippi Tunes" with a dance lesson plan, and parents get to get dance lessons for their kids on location. Last year they made $268,000 with a profit of $29,000. They will even FINANCE the money and collect the interest! And on top of that they require a minimum royalty payment of $1,000/month from the franchisee with a 10 year commitment. So far, no one has quit.  They want to use the $30K investment money to produce DVD's, build a brand and have the next Barney. 

STATS: If there are any guppies who's looks can be deceiving, the entrepreneurs at Tippi Toes would definitely qualify having 'tipped' their way into big financial gains, and now they decide to take a splash in the deep pocketed waters of cold cash in the tank. Money is on the menu. Who will be the first shark to flaunt their financial fangs at this freshwater feast? Daymond is the first  to back out. He just doesn't think they need him. Robert thinks they are trying to grow to fast by hopping into the DVD business, therefore he is also out. Kevin, the Bull Shark who can sniff money in a hurricane, offers $50K  for a 51% Stake. Barbara likes the company but isn't excited about 5%, so she offers $60K for a 20% Stake, but they gracefully turn it down. The sweet smell of money must be  floating in the water because Mark then makes them a very interesting proposition. He say's he doesn't want to get into a competitive negotiation against Barbara, so he jumps out the water and snags the dish by stating that if he says YES to whatever Megan & Sarah's counter-offer is, they have to say yes IMMEDIATELY and do the deal with HIM and not allow Barbara to come back with a counter offer. Megan and Sarah agree with Mark and offer to do the deal for $100K for a 30% Stake. The Great White Shark  snaps down on it like Jaws and the deal is done as these guppies are swallowed whole into a belly of finance and opportunity. Barbara just couldn't clamp down fast enough before the tasty opportunity was snatched out of her teeth. The rule of the tank is get em'-got em, and a dangling dollar on a hook won't last a second to the billion dollar appetites of these capitalistic carnivores of commerce! 

CAME IN SEEKING: $30K for a 5% Stake

WALKED WITH: $100K for a 30% Stake.

GRADE: (Guppy): A+

GRADE: (Sharks): A

COMMENTARY: They actually walked out with $70K MORE than they were seeking, and still own 70% of the company. The business minds of these guppies are VICIOUS! Are these piranha? If so, they have officially earned they're SHARK TEETH. Way to go Tippy Toes!

 WATCH SHARK TANK  SEASON TWO WEEK 1/EPISODE 1 - TIPPY TOES

"Success produces success, just as money produces money." - Nicolas Chamfort


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 THEY 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..........

Shark Eyes: The Science Of Getting Rich by Wallace D. Wattles

Think of the riches the world is coming into instead of the poverty it is growing out of, and bear in

mind that the only way in which you can assist the world in growing rich is by growing rich yourself

through the creative method, not the competitive one.

Give your attention wholly to riches. Do not focus on poverty. Whenever you think or speak of

those who are poor, think and speak of them as those who are becoming rich, as those who are to be

congratulated rather than pitied. Then they and others will catch the inspiration, and begin to search

for the way out.

Because I say that you are to give your whole time and mind and thought to riches, it does not

follow that you are to be sordid or mean.

To become really rich is the noblest aim you can have in life, for it includes everything else.

On the competitive plane, the struggle to get rich is a Godless scramble for power over others, but

when we come into the creative mind, all this is changed. All that is possible in the way of greatness, of

service and lofty endeavor, comes by way of getting rich, because all is made possible by the use of things.

You can aim at nothing so great or noble, I repeat, as to become rich, and you must fix your attention

upon your mental picture of wealth to the exclusion of all that may tend to dim or obscure the vision.

Excerpt taken from The Science Of Getting Rich by Wallace D. Wattles


Visit the SHARK EYES section for recommended must reads.

Watch Shark Tank - Week 1/Episode 1 - Wurkin Stiffs

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.

Wurkin Stiffs/Power Stays

THE SHARKS: Barbare Corcoran, Daymond John, Kevin O'Leary, Robert Herjavec, Mark Cuban

THE GUPPY: Jonathan Boos

THE COMPANY: Wurkin Stiffs

WEBSITE: www.workinstiffs.com

SYNOPSIS: Power Stays, The worlds only magnetic collar, stays clips onto the underside of your collar with a hidden magnet underneath that transforms your shirt  into an hidden button down collar.

SEEKING: $85K for a 10% stake

PRODUCT/SERVICE: Wurkin Stiffs is a brand with a neat little product known as Power Stays. You can take a shirt and turn it into an instant button down collar with a super strong hidden magnet. The clip and the magnet remains hidden while the shirt collar remains discreetly buttoned down. 

WHAT'S THE SKINNY?: Power Stays launched in 24 stores. Within 3 months it was in 77 stores, sold over 18,000 units, then made over $16,000 retail and is currently in all 115 NORDSTROM stores. Sales in ALL the products are at 1/2 Million dollars and expecting to do $1.8 Million next year.

BUSINESS MODEL/HOW DOES IT MAKE MONEY?: Jonathan wants to take the $85K investment money and take his company to the next level. He also has more products on the drawing board and still in development.

STATS: Ahhhhhhh,...... the smell of fresh money in an ocean of investment with a product or service that is really needed. Entrepreneurship is the real lifeblood of the economy. And what could be tastier to a shark investor than an entrepreneur who has found a way to meet a huge demand. Although Mark likes Jonathan's passion and knowledge, he decides to back out early because he say's he's just not the guy with the connections that can add value to the company. Barbara backs out shortly after. Daymond remains quiet as Kevin decides to take a bite. Kevin offers Jonathan $100K  for 30% equity with a 14% ROYALTY (for HIM). Jonathan see's it as a loan, but Keven is sharp witted and chomps back down on the guppy with a verbal commitment to pump more cash into the company when needed. Jonathan is savvy enough to realize that he needs more than just money. He needs someone that can help him. A shark with experience. There is only one shark in these waters who can give him the connections and power he seeks, and that's Daymond, but the Shortfin Mako Shark has remained very quiet thus far. Jonathan finally reaches out to Daymond but can't keep his MOUTH closed long enough to let Daymond take a bite and make an offer. Daymond doesn't like big mouth guppies arguing with him so he backs out. Jonathan botches the offer, and the guppy apologizes, hoping for another chance to secure the investment. Daymond actually LIKES the product, but he is already pissed at the guppy with the mouth bigger than his bite. The one shark Jonathan  wanted a deal with most is OUT. Back and fourth they go as the waters of finance in the tank are shaken up. Kevin decides to dangle his offer back at Jonathan, then Robert chomps down with an offer of $100K for a 30% equity stake with NO royalty. Jonathan counters and asks Robert to raise it to $200K for 30%, but Kevin bites back and drops his equity  down and offers $100K for 20% but the 14% royalty must remain. Robert then makes a final offer of $100K for 25% stake. Then Barbara suddenly decides to shake the financial waters up again and offer $100K for 20% on the condition that Daymond forgives Jonathan and comes back in on the deal, but Daymond say's 20% is NOT enough. He then makes a hard offer and say's he can't take less than 40% equity due to his knowledge. Then Kevin decides to drop his equity down to 15% but the 14% royalty must remain. Jonathan makes 1 last effort to get Daymond and Barbara to nibble at $100K for a 30% stake, but the Shortfin Mako won't bite. Decisions decisions. Money, money, money. After thinking it over, Jonathan finally decides to do the deal with Daymond and Barbara, securing the needed experience he sought, along with the needed investment.

CAME IN SEEKING: $85K for a 10% stake

WALKED WITH: $100K for a 40% stake

GRADE: (Guppy): B-

GRADE: (Sharks): A+

COMMENTARY: Although in my opinion I think Jonathan made out pretty good because he got more than he came for, the question remains, ..... at what cost? Numbers don't lie. He came seeking $85K for 10%, and walked out with $15,000 more than what he asked for, but at 30% more than he wanted to give. Although this isn't bad at all, I think if he would have put a LID ON THE GILL FLAPPERS and kept his mouth closed, he could have given up less equity. I'm pretty sure him being a smart guy, he had bargaining leverage already calculated into the equation, but I believe he could have gotten $100K for a 35% Stake.

WATCH SHARK TANK SEASON TWO-WEEK 1/EPISODE 1 - WURKIN STIFFS

"Money often costs too much." - Ralph Waldo Emerson


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...........

Shark Tank Season Two - Swimming In Money

Come one, come all........


Welcome to Sharktank Millionares Baby! LOL, ....A blog of practical knowledge gained by observing top entrepreneurs, billionaires, and venture capitalist making REAL WORLD investment decisions on reality television. Shark Tank is the BEST REALITY SHOW ever created. What could be better than watching a successful entrepreneur succeed in making real time decisions LIVE as it happens, and hearing every piece of data they used to arrive at those decisions. This is as good as it gets. I hope the show continues to come back season after season without end. This blog will not follow ABC's Shark Tank just for the sake of following the show. This blog will provide TOOLS for both venture capitalist and entrepreneurs to take advantage of in the REAL WORLD while following the show and grading it with a REPORT CARD based on the performance of the investors and the entrepreneurs (sharks and guppies). It will also provide tools for people who would like to start their own business as well, by providing information on everything from FREE ONLINE COURSES to many other very useful resources that can be put to use. Of course we love the show, it's the AMERICAN DREAM in live action, but what could be better than watching the show while being educated in the world of BUSINESS and FINANCE in the process? So regardless if you are a billionaire venture capitalist looking for an tasty investment to sink your teeth into, are an up and coming entrepreneur that's looking for investment resources and funds, or maybe you just like watching Shark Tank singing the lyrics to Travis McCoy's "Billionaire", it doesn't matter, you've come to the right place. Hop on in,........ the waters' fine. If you pay close attention and follow my blog, you just might learn how to invest underwater, and not get wet. But until then, take good notes.

My name is Bieyanka Moore, and MONEY is a dish best eaten RAW! ........ Delicious. (wink)

Stay tuned, ..... Same shark blog, same shark channel.

Keep it locked.