Into The Shark Tank

ABC hit gives viewers a look into the world of business

From its 2009 premiere, to its now ongoing eighth season, Shark Tank has dazzled and captivated audiences. With a mix of what Deery would call "amateur status" (63) and seasoned professionals, it's sure to impress even the haughtiest of reality TV snobs. So what makes it work? Inspired by shows such as Dragons' Den and Tigers of Money, Shark Tank features a celebrity cast of successful entrepreneurs looking for "fresh meat," in the form of prospective tycoons. Each participant enters the show with one idea on their mind, convincing a shark to invest in their ideas. A pitch is delivered, negotiations are started, and hopefully a deal can be made. Shark Tank devours both participants and the audience, making the former nervous and the latter entertained.

The logo of the show

Episode ten of Shark Tank season eight, opens like any other episode. The first pitch is made, setting the stage for the episode. This time around, it's the Inboard. Supposedly the first skateboard with motors inside of the wheels, the sharks wait in anticipation for the explanation to follow. However, the audience only sees a limited amount of this pitch in the episode. The segments shown are the result of an approximately one hour proposal, edited in the post-production stages to keep only the most interesting parts in. Reaction shots are carefully spliced, in to show how each Shark reacts to the pitch, at any given moment, possibly creating interactions that did not occur, as Deery (79) mentions. After the details are provided about the Inboard, the creators go on to state what they would like the sharks to invest and what percentage they would receive for doing such a thing. In this case, they offer a 4% stake of the company in exchange for $750k. Viewers would enjoy this heightened drama as both participants and sharks alike argue over tweaking the numbers to their advantage. The audience learns quickly that no one can win if a compromise isn't made, causing either the sharks or the entrepreneurs to back out.

Backing out usually is not the outcome achieved. Most companies that did well on Shark Tank went on to do well in business, especially after the publicity from appearing on the show. An update on a former business venture is supplied, telling viewers just what happened with the Simply Fit Board they saw in the previous season. Another powerful demonstration of the benefits new entrepreneurs can gain after appearing on Shark Tank would be Simple Sugars. Jayne Gest elaborates on this with interviews from the president and CEO of Simple Sugars, Lani Lazzari, who "blew all of the projections way out of the water" within an hour of her premier. However, the benefits go beyond the participants' success.

"Queen of QVC" Lori Greiner

The sharks have one thing to lose and one thing to gain, and both are money. The intro of Shark Tank makes it clear that most of them started out in the same place as the participants, someone with an idea who went looking for success. Moy makes a point of mentioning Lori Greiner and former shark Kevin Harrington specifically because of how well known they are for selling products on TV. The Queen of QVC and an expert at producing infomercials are most certainly recognizable faces. However, even without being immediately recognizable, each shark is a self made success. Each shark is what participants aspire to become. Viewers are more or less treated to a potential "before and after" without even changing the channel, but that's not all they get to see.

A certain emotional appeal comes with watching Shark Tank. The episode I viewed featured a particularly touching backstory. A participant details his life, from his humble origins to becoming the first member of his family to attend college. All of this is laid out before it's even made clear what he is bringing on the show. This allows viewers to become emotionally invested in this entrepreneur, desperately hoping that he manages to strike a deal that would let him succeed and follow his dreams. His product, by the way, was a healthy, real dog food with an absolute transparency in what people would be feeding their animals. Unfortunately, all that emotional investment leads up to drama when he can't make a deal with any of the sharks.

Renaldo Webb of PetPlate

Between quickly fluctuating levels of drama and a compelling premise, Shark Tank promises to entertain most, if not all, viewers. Everyone has something to gain from being involved in the show; the sharks can help a new business succeed and the participants can watch the profits roll in. Simply appearing on the show is enough to bring a lot of interest. Each meticulously edited moment is written to pull an audience in and make them feel what they want them to feel. Any reality TV buff should be willing to give Shark Tank a nibble, and they might just sink their teeth in.

Works Cited

Baumann, Sabine & Rohn, Ulrike. "Meet the Predators: the Branding Practices behind Dragons' Den, Shark Tank, and Höhle der Löwen." VIEW Journal of European Television History and Culture, vol. 5, no. 9, 2016, pp. 105-115. Directory of Open Access Journals, https://doaj.org/article/622c2cb1fc5f48d7bb4d1b800edc7b01.

Deery, June. Reality TV. Malden, MA: Polity Press, 2015.

Gest, Jayne. "Life after 'Shark Tank.'" Smart Business Pittsburgh, vol. 21, no. 12, pp. 14-16. Business Source Complete, http://proxy-bloomu.klnpa.org/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=102775400&site=eds-live.

Moy, Ronald L. "Swimming with the Sharks: Case Studies in Venture Capital Entrepreneurship." Journal of the Academy of Business Education, vol. 15, Fall 2014, pp. 56-65. Business Source Complete, http://proxy-bloomu.klnpa.org/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=101788629&site=eds-live.