![]() ![]() They hugged it out with Robert and the rest is history. Evan and Nick quickly discussed on camera, and they accepted Robert's offer. Robert offered $100,000 for 10% of the company. ![]() After three of the Sharks went "out," Kevin and Robert both gave the pair offers. When we mentioned interest in expanding into wholesale, Mark Cuban and Daymond John warned that they should stick to their core competency, which is scaling e-commerce sales through their website. Robert Herjavec particularly liked that Evan had quit his law job to focus full-time on Tipsy Elves. ![]() After the pitch, the Sharks questioned us and learned the nitty gritty of the business - how we started, what our background is, how we find new customers, etc. The five Sharks watched us with blank faces. We had practiced it so much we could rehearse it in our sleep. ![]() The 2-3 minute introductory business pitch was the most nerve-racking part. Once we were in the tank, it was go time. It was comforting to have some of our best friends at the hotel with us (and we were grateful they were willing to show their faces on live television in front of 7 million viewers while wearing Christmas sweaters). We had lots of numbers to memorize and very little time to do it.įive of our friends (soon to be models) arrived to the hotel room Friday night to practice a few "cat-walk’ run throughs. There's a big difference between knowing roughly what your revenues/profits are versus knowing exactly your COGS, gross profit, net profit, conversion rate, and customer acquisition costs. We made flash cards to review our financials and the gritty details about our business that we knew the Sharks would grill us on. With that good fortune in mind and only a few days to finish prep we got to work: building IKEA furniture, hanging ornaments, and of course - practicing the pitch. You can image my surprise when my fortune cookie read: "An Investment Opportunity Will Profit You." After packing my car (to the brim) and drove up to Los Angeles from San Diego (Nick flew in from San Francisco), I stopped by Panda Express for a quick meal. ![]()
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