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Thursday, January 21, 2010

ABC's "Shark Tank" Teaches A Lot About Business Funding

There's a show on ABC called Shark Tank that is very, very educational about business funding. Entrepreneurs can present their ideas to a panel of five multi-millionaire venture capitalists to convince them to invest in exchange for equity in their companies.

What's good about the show is that the panel is brutally honest with the entrepreneur contestants. If they present a weak idea or have not done their homework, they are given honest and hard-hitting feedback. In addition, if they are asking for too much money in exchange for too little equity, they are harshly criticized.

The show is good and worthwhile watching if you're interested in obtaining business funding, even if you're only interested in getting business grants. It teaches you how to be realistic, how to view the bigger picture, and how to be effective in your presentations when asking for funding.

The show is already in Season 2, but Season 1 is just as good. You can watch the show on ABC on Fridays 9/8c or you can view the episodes online at http://abc.go.com/shows/shark-tank/
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