ABC’s Shark Tank recently announced the date of the season 12 premiere. With the panelists recently commenting on this season’s intensity, the reality show is sure to delivery some nail-biting deals when it starts airing new episodes on October 16.
Longtime panelist and FUBU owner Daymond John is giving aspiring entrepreneurs a heads-up on who may be the toughest Shark to win over in the Tank.
‘Shark Tank’ sees ‘2X’ intensity in season 12
Recently nominated for two Emmys, Shark Tank continues to be a ratings hit for ABC. John considers the reality show’s access to everyday people as a huge draw.
“I think the attraction is that everybody has an idea,” John told Innovation & Tech Today in 2018. “Not everybody can necessarily sing, but people can put themselves in the position or place of the entrepreneur. … We’re all going to be in that position when we’re going to be pitching something to somebody.”
With the coronavirus crisis causing mass layoffs and businesses to close, NBA team owner Mark Cuban noted a new level of veracity in this year’s contestants.
“We had a lot of timely type deals,” Cuban told Variety. “Entrepreneurs who created businesses geared toward the pandemic, entrepreneurs whose businesses had to pivot … or whose backs were against the wall because of the pandemic. … I think the level of intensity was 2X at least.”
Barbara Corcoran goes with her gut
While all the Sharks may gravitate toward a certain type of company, real estate mogul Barbara Corcoran pays more attention to the person running the organization.
“I don’t really care what the business is of the individual who’s pitching on Shark Tank,” Corcoran told Access Hollywood. “What I’m shopping for is the entrepreneur… I say that is because I’ve been investing on Shark Tank for 11 years and every time I was swayed by the entrepreneur and thought that they were capable … I’ve made money on every one of those deals.”
Apparently, going with her gut has proven successful for Corcoran. Scoring countless profitable deals over the show’s tenure, the Shark Tank star continues her successful track record by banking on the business owner rather than the business itself.
“Every time I invested in the business concept – ‘oh that’s cool’ or ‘that’s a neat product’ – and they didn’t have a phenomenal entrepreneur, I’ve lost my money,” Corcoran revealed. “So I try to turn a deaf ear honestly to the business itself. But I’m hyper attentive to the entrepreneur, trying to size them up and get myself a great partner.”
Daymond John calls out Corcoran
While Corcoran’s style may seem heartfelt, John considers her to be the hardest one in the Tank to sway.
“I would think the toughest shark to impress is probably Barbara,” John told Yahoo Entertainment. “She just says the things that … she’s like, ‘You know, I really like you. I like the product. But it looks like you’ve got gingivitis. And I can’t have meetings with you often because your breath is going to stink. I’m gonna realize that I’m not gonna want to be around this person because you got gingivitis. For that reason, I’m out.’”
While Corcoran appreciated John’s humor, she admitted that investing in a deal requires a lot of consideration.
“Even today, most people aren’t aware it’s our own cash,” Corcoran said. “We get embedded in our entrepreneur’s lives and so it’s a serious business as well as it is a show.”
Season 12 of Shark Tank premieres on October 16!
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