5 Marketing Fails Never to Make on Shark Tank

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5 Marketing Fails Never to Make on Shark Tank Solomon/Turner PR http://www.solomonturner.com

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Here are 5 recurring marketing mistakes not to make on Shark Tank or anywhere else for that matter.

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1. Failure to construct a clear, concise, business presentation.

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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.

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2. Failure to know your numbers.

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Entrepreneurs need to know their numbers for the last three years, this year, this month, because...

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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.

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3. Failure to know the competition, since...

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The Sharks dislike companies that do not have a competitive advantage, a product or service hard to duplicate by a larger company.

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4. Failure to understand customer acquisition costs.

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Business owners should know how much it costs to acquire a new customer so they can make adjustments and price products accordingly and profitably.

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5. Failure to highlight strengths, hide weaknesses.

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Refrain from arguing over minor, negative points. Don’t make it a personality clash. Instead…

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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.

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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