1. Know the worth of your time/business.
Negotiating is part of life. The Sharks often try to diminish the efforts and worth of certain people and businesses; however, stand your ground and don’t take any job or deal where you are not properly financial compensated.
2. Speak confidently goes a long way.
One of Kevin O’Leary’s key tip to getting a deal is to articulate your business model in 90 seconds or less. This is a good life skill because being concise and clear about subjects in personal life or in business life will demonstrate thorough knowledge and confidence.
3. Be aware of the facts and be prepared.
Another one of Kevin O’Leary’s key tips to getting a deal is to know your numbers! Frequently on the show, I have seen Sharks not make a deal due to the contestants’ lack of preparedness. No matter what aspect of life it is, being prepared and knowing the facts goes a long way.
4. Manage under pressure.
The Sharks make an offer and sometimes demand that the contestant accepts at that moment without hearing the rest of the offers or they’re out. The contestants have to make a lot of decisions in a short amount of time. Viewers can learn from this by acknowledging that hard decisions need to be made in every situation in life.
5. The American dream is alive and well.
Almost every contestant of Shark Tank, whether they made the deal or not, says the same thing, “The American dream is alive and well!” It is a reminder that with hard work, determination and an amazing idea, anyone can achieve success and prosperity.