By Jeff Altman, The Big Game Hunter
Watching “Shark Tank” offers great lessons for solopreneurs. Here is a paradox offered by the show.
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Hi, I’m Jeff Altman, The Big Game Hunter. I’m referred to as The Big Game Hunter because I coach people to play their professional and personal games big. Excuse the delay with speech and audio.
It seems just slightly off. So I apologize. I’m not sure what’s going on.
But, again, please accept my apologies. Shark Tank, great show. But there’s this funny paradox that keeps showing up time and time again.
The paradox is, the investors want the entrepreneur, the startup, to be all in. You know, we don’t want a part timer. We’re not going to invest in someone part time, because we don’t think that’s going to work for us.
But for them, they manage risk. They’re not going into a deal unless they believe they can get their money out and a lot more. So what do you take away from that? For you, as a solopreneur, for you as a startup, you have to think of plan B because you have to mitigate risk.
You have to look at your situation and perhaps start out as a side business or a side hustle, as the nickname is now, where you have other income coming in. Because so often, when people go into new ventures, it doesn’t work as smoothly as they would like and what’s their fallback position? How do they get out of this what they’re hoping to get and not bet the farm on it? Because Lord knows the investors in Shark Tank aren’t betting the farm. Mark Cuban isn’t pushing all his chips into the center of the room and betting on one individual, right? He’s trying to see, all of them are trying to see that they’re getting their money back and that it’s a risk worth taking.
At the end of the day, Mr. Wonderful, terrific investor, you may not like the deals he structures, that’s okay. But the lesson there, time and again is, I want to get my money out. He’s clear about it.
The others are less clear. They want to make money, but they’re not risking everything. You can’t risk anything either.
That’s the lesson from Shark Tank. You can’t put all your chips on the table based upon a hunch, a hope, a dream and a belief that isn’t quantified. You have to learn the lesson that the investors on Shark Tank give and apply it to yourself, as well.
Now, I’d like to coach you in order to be more effective. So, reach out to me and schedule some time for an initial coaching session. You can find out about that through NoBSCoachingAdvice.com. While you’re there, get some encouragement.
Click that tab on top. I think you’ll find some useful information there. I also want to mention that if we aren’t connected on LinkedIn, send a connection request to me at LinkedIn.com forward slash i n forward slash the big game hunter.
I want you to be successful. I want you to play big. Hope you have a great day.
Take care
ABOUT JEFF ALTMAN, THE BIG GAME HUNTER
People hire Jeff Altman, The Big Game Hunter to provide No BS Career Advice globally because he makes many things in people’s careers easier. Those things can
involve job search, hiring more effectively, managing and leading better, career transition, as well as advice about resolving workplace issues.
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