Evaluation of Pitches in Shark Tank

Abstract

The paper provides the analysis of two pitches from Episode 11 in Season 6. The paper also presents a summary of the ideas discussed in the selected pitches. The comparison of the pitches features is supported by analyzing the business idea that is worth investing.

Evaluation of Pitches

Shark Tank is a TV series in each episode of which entrepreneurs try to attract attention to their products and services in order to win the investment as a result of providing an effective pitch. Two pitches from Episode 11 in Season 6 were selected for further analysis. Thus, the purpose of this paper is to summarize the ideas presented in the selected two pitches and compare them in order to state what project can be discussed as potentially profitable and worth investing.

The first pitch was spoken by Stephen Hersh, the founder of Biaggi. Hersh presented Biaggi as a line of foldable luggage that is effective to save space at home when the luggage is not used (Shark Hunters, 2016). The main difference that distinguishes Biaggi from other lines is the possibility to fold these products. Therefore, the target customers are travelers and businessmen.

The second pitch was presented by Lydia Evans who described the main features of Soaps Washes and Grooming Essentials (S.W.A.G. Essentials) developed for men. This soap was presented as having unique moisturizing qualities, and it can be used as a scrub for men. The target audience includes men who pay attention to skincare, and the main difference of this soap from others is in its ability to prevent inflammation while using a razor.

It is important to state that both entrepreneurs identified the purposes of the products clearly and with the focus on problems that they could solve. Business ideas were easy to understand. However, in a case of S.W.A.G. Essentials, Evans could not formulate the reason for transforming the hobby in business and provide the plan for the marketing expansion. Still, both entrepreneurs were rather passionate about their products and businesses. Thus, Hersh wanted to overcome business mistakes made in the past. He stated: consumer education is the challenge, and his focus was on addressing this aspect (Shark Hunters, 2016).

In her turn, Evans planned to concentrate all her energy on the hobby. Nevertheless, Hersh seems to be more convincing than Evans because Hersh knows the aspects of the business world and he has the clear goal that can be achieved with the focus on gaining investment. Evans has no well-developed ideas regarding the future development of her business. Still, it is important to note that both entrepreneurs can leave investors wanting to learn more about these businesses because there are many details to focus on in order to develop an effective strategic plan.

It is possible to follow the opinion of experts from Shark Tank and invest in Biaggi because Hershs ideas and goals are formulated clearly. The entrepreneur understands weak points of his strategy, and he is ready to work on overcoming them (Arnold, 2012). As it is noted by Mark Cuban, the fear of future mistakes can be good motivation for persons who have the certain experience in the field (Jarvis & Abraham, 2014). The idea provided by Evans requires more details and development when the idea by Hersh is ready to be implemented.

While comparing the pitches, it is also important to note that the entrepreneurs used different approaches to presenting their ideas. Hersh focused on the direct comparison of his products qualities to competitors ones by means of demonstration. Evans referred to anecdotes to support her ideas, and she provided samples of the product without demonstrating its qualities. Therefore, the focus on the direct demonstration of the product qualities should be selected for developing a pitch (Wilcox & Fabozzi, 2013).

The purpose of the paper was to analyze the two pitches and compare them in terms of their effectiveness. This task is appropriate to demonstrate how presentations of business ideas can differ. Furthermore, the paper is important to focus on aspects in the pitches that guarantee their success.