5 Marketing Fails Never to Make on Shark Tank Solomon/Turner PR http://www.solomonturner.com
Here are 5 recurring marketing mistakes not to make on Shark Tank or anywhere else for that matter.
1. Failure to construct a clear, concise, business presentation.
You can be creative and funny but you still need to get the buyers to the “tell me more” stage of the presentation. Many contestants lack this skill.
2. Failure to know your numbers.
Entrepreneurs need to know their numbers for the last three years, this year, this month, because...
Buyers and even sales prospects like to know they are doing business with a growing firm as opposed to one headed in the wrong direction.
3. Failure to know the competition, since...
The Sharks dislike companies that do not have a competitive advantage, a product or service hard to duplicate by a larger company.
4. Failure to understand customer acquisition costs.
Business owners should know how much it costs to acquire a new customer so they can make adjustments and price products accordingly and profitably.
5. Failure to highlight strengths, hide weaknesses.
Refrain from arguing over minor, negative points. Don’t make it a personality clash.Instead…
Focus on all the positives your product provides with solid facts, figures and case studies. Then you will be ready to swim with The Sharks.
For more information contact… Solomon/Turner PR, a St. Louis PR Firm http://www.solomonturner.com [email protected] http://www.solomonturner.blogspot.com 314-205-0800 Photo courtesy of neurope.eu