My fondest childhood memory is of me and my Dad fishing at Fewa Lake in Pokhara. We went fishing so often. My dad was a fishing aficionado and I was his partner in crime. This experience gave me enough bonding time with my Dad, and it is also the reason why I will love rivers, lakes, and fishing all my life.
As much as I love eating fish, I loved fishing more. It was not something we did solely for a fish dinner in the evening, it was a special event in itself. By the same token, I always thought I loved money. However, it seems I am more into the satisfaction of creating something that provides value. In other words, I get more satisfaction from building businesses. Money comes second, but it does come when you learn to provide value.
The secret to wealth is simple: Find a way to do more for others than anyone else does. Become more valuable.Tony Robbins
This is how I stumbled into Shark Tank. Shark Tank is an American business reality television series that premiered on August 9, 2009, on ABC. It shows entrepreneurs making business presentations to a panel of five investors or “sharks,” who decide whether to invest in their company.
That is all it is. Entrepreneurs pitch their business ideas or startups. Investors then decide whether to invest in them. Mark Cuban, a celebrity investor, is a long time shark of the show. Without further ado, allow me to list my four major insights and learnings from the show.
1) You can learn about business ideas by looking at ideas that have appeared on the show.
Want to earn money or build something of your own but lack creative ideas? You are not alone! Good ideas do not just come out of nowhere.
We usually believe that people come up with revolutionary ideas to become successful. Or that they bring ideas nobody no one else had ever thought of.
Well, not every time.
New ideas in most cases may only be a small tweak on an already-existing idea. I will elaborate on this topic in the next point. For now, I want to leave you with a very helpful link. This link will take you to the list of all the ideas that have been pitched on Shark Tank. Google them one by one, perhaps one idea a day. It will give you enough insights into what kinds of business ideas get popular. You may also be prompted to a simple thought process about how people come up with simple ideas that create multi-million dollar businesses.
2) You do not need a groundbreaking idea or invention to be of use.
One of my high school friends has this quote on her social media bio:
“Do the best with this life to BE OF USE.”
It turns out, it is not very difficult to be of use. You just have to start. It feels dark when you sit and try to think of a way to be of use and serve the world. Doing business is about serving the world, it is about solving problems of the making. However, the problem with most capable problem solvers is that they do not appreciate the significance of a simple attempt that can just solve the problem. study a problem from the very core. The problem with most great ideas is that they are never executed.
This is why there are so few individual billionaires and even lesser multi-billion companies. People reward problem solvers with money. Data shows that most humans born never become significant problem solvers. The reason? Most people freeze up at the idea of creating a new idea. However,
“There is no such thing as a new idea. It is impossible. We simply take a lot of old ideas and put them into a sort of mental kaleidoscope. We give them a turn and they make new and curious combinations. We keep on turning and making new combinations indefinitely, but they are the same old pieces of colored glass that have been in use through all the ages.”Mark Twain
You will only get new ideas if you start working on an already-existing problem by looking at an alternate angle at an already-existing potential solution. This can be learned from the life of the renowned inventor in history, Thomas Alva Edison. Thomas Edison’s teachers said he was “too stupid to learn anything.” He was fired from his first two jobs for being “non-productive.” As an inventor, Edison made 1,000 unsuccessful attempts at inventing the light bulb.
For the world, the light bulb was a completely revolutionary idea. For Einstein, however, it was just the next slight tweak on an idea that he had to tweak 1,000 times.
3) If you can’t communicate effectively, you can’t sell.
Effective communication is at the heart of selling, from selling a pen to selling your business idea on the corporate office of a potential investor on the 7th floor of a swanky building. While sitting on an interview for your first job, asking your boss for a raise, or proposing your to-be girlfriend, you are selling an idea or a promise in all the cases.
If you can’t communicate, it’s like winking at a girl in the dark–nothing happens.Warren Buffett
In order to sell, you must learn the art of effective communication. The quality of your communication is absolutely the quality of your life. Effective teamwork begins and ends with communication. Proper communication is the best way to solve a problem.
I can go on and on but you get the point.
4) Shark Tank Nepal is airing soon.
Himalayan TV HD has promised that it will air Shark Tank Nepal in the year 2021 itself. This is a project proposal by Subash Poudel in association with Brandworth Pvt. Ltd.
The show plans to provide a platform for startups from various industries looking for funding. The show’s objective is also to encourage entrepreneurship in Nepal and to instill financial literacy among viewers.