For instance, the aspiring entrepreneur may ask for $200,000 for a 20% stake in the business. If a deal is made with a shark, in addition to the infusion of cash into their business, the business owner gets coached by the Shark they have partnered with.
Pay attention to the pitches by the business owners. Notice how they describe their business, their story about how the business came to be, notice their excitement or nervousness - do they sell YOU on their idea?
Notice what the Sharks ask about - the numbers, the sales, how many have been sold, what's the profit margin, how much does it cost to make, how are they getting customers, how much money have they already put into the business, what is the current structure of their business, what is their business sense. The aspiring entrepreneurs have to be on their game - they have to know their stuff - just like you do in your job search conversations.
After you've watched a few of these pitches, you get to know very quickly when the product or service is a good idea and whether or not they will be successful. It's exactly the same thing that's happening to you when you are interviewing: the interviewer makes a relatively quick judgement about whether you know what you're talking about or not. They also make a swift decision about whether they like you or not. Several times the Sharks have said they want to partner with an entrepreneur because they like them.
So, be on your toes when you are networking or interviewing - those first few moments will determine if you will be successful or whether you'll be thrown to the sharks.