The World of Entrepreneurship: Shark Tank

 Have you ever had a business idea that you change someone’s life? That’s what entrepreneurship is all about. Entrepreneurship means starting and running a business, solving problems, and taking risks. It’s not just about making money, but creating something valuable making a difference in the world. Entrepreneurship shares a part of the modern business world. It brings new ideas, creates jobs, and enjoys the freedom of building something of their own. It helps make a difference in the world by focusing on the things that are needed. There is one show that shares the ideas of entrepreneurs and offers more possibilities. “Shark Tank”: A show in which wealthy investors evaluate startups who pitch for funding. 

What is Entrepreneurship?

Entrepreneur: “An individual who creates a new business, bearing most of the risks and enjoying most of the rewards.” Entrepreneurship starts with turning a good idea into a business. It starts with finding a problem and coming with a clever way to solve it. Entrepreneurs can create a product, service, or a new experience. They must take risks, invest time and money to gain profit. Traits like creativity, persistence, patience, and strong willpower. Great entrepreneurs see opportunities and solutions through problems. You can see real world examples of great entrepreneurs. Elon Musk, the richest man on earth, started as a small entrepreneur. He took big risks with companies like Tesla and SpaceX. He shows a great example that anyone with willpower and creativity can succeed. 

What is Shark Tank?

“Shark Tank” is a popular reality TV show where entrepreneurs pitch their business ideas to rich investors, also known as “sharks”. Entrepreneurs come pitch their ideas trying to get money in exchange for a part of their company. The show teaches important business lessons. It shows great examples of how to pitch their idea; it shows persuasiveness and confident talking. You can also learn a lot about how making decisions and business works, Business language  and vocabulary. “Shark Tank” brings real-world entrepreneurship to life. 

Lessons you can learn from “Shark Tank”

• Making a strong pitch 

• Learning business knowledge

• Learn to negotiate to make or seal deals

Entrepreneurship Challenges

A lot of people have ideas. Those ideas could be what makes an entrepreneur be successful. While entrepreneurship can be exciting, it also comes with hardship. One major issue is raising money or having the money to get started. A lot of entrepreneurs use their savings or borrow from friends and family. Looking for investors could be another idea, but it is not that easy. Not only do people have trouble getting the money, their product could have some competition. Even though you might seem to have a great idea, other businesses could offer something similar or better. Entrepreneurship also requires a lot of energy. Some people are faced with failure. 

Even on “Shark Tank” many entrepreneurs don’t get a deal. Some reasons are: 

• Bad or Unclear Business Model

• Unrealistics Value

• Business is not profitable

• Product isn’t proven

• Red Flags

• Sharks aren’t interested. 

Starting Your Journey

Starting your entrepreneurship journey doesn’t mean building a million-dollar company. You can begin with a spark of an idea. Some steps toward a can be:

• Start with a problem you care about

• What is something that you wish you could fix that others would feel the same?

• Research

• Research how you can make the product better.

• Create a plan or prototype

• You need to test some products or plan them. 

• Ask for feedback

• Share your ideas with the people around you. Use their advice to improve.

You could gain some inspiration from Shark Tank. Don’t stop there, take initiative. Entrepreneurship is for everyone. All it takes is an idea, a little courage, and the willingness to try. 

Conclusion

Entrepreneurship is about solving problems and chasing big dreams. It’s exciting, but can be full of challenges. You could learn from “Shark Tank” about the troubles and successes in the business world. If you ever thought about a problem that you wish you could fix, you're thinking like an entrepreneur. All you need to do is start. Your idea might be the next big thing. Take initiative and change the world.