A First Look at Shark Tank

Getting ready for Thanksgiving

Week 3 - This one was interesting - it was for a product called the Turbo Baster.  The product is a battery operated baster that has two different attachments - an injector tip and a silicone brush.  It seemed like a practical idea, but it turns out it hasn't actually been built.  There is a prototype, but it doesn't actually work.

So until it gets built, you're stuck with the basic one:

 

Want Cash for your Gift Card?

Week 4 - First up was an entrepreneur looking for capital for his company Gift Card Rescue. The idea behind the company is that they will buy your unused gift cards at a percentage of the actual value. They then take those gift cards and sell them at a discounted rate. Money is made by buying at 50-60% of the card value, and then selling for 80-90%. It's a simple idea and is probably useful for people who have extra cards lying around and may just need some quick cash for another purpose. It's also a great way to save some money by purchasing the cards at the discounted rate.

Is it legal? It seems fairly straightforward, and I suppose that the store still receives the full value of the card at the time of purchase.

Dragon's Den

The show "Shark Tank" on ABC is based on a TV show called "Dragon's Den" that began in Japan and has since spread across the globe. The idea is for entrepreneurs to pitch their ideas or products to business professionals and investors, who then decide whether they will invest. The concept is probably repeated on a daily basis by millions of people who are seeking financing for their new businesses, but putting it on TV probably gives each of the entrepreneurs the added bonus of a customer base that is watching.

Welcome to the blog!

I have been watching ABC's new show "Shark Tank" the past few weeks, and figured it might be fun to create a blog that highlights some of the products and ideas on the show, and then follow along to see how well they actually do. It would seem that all of these ideas are presented, and perhaps even deals made, but who knows what the result is.

I also plan to see if any of the ideas that were rejected end up going anywhere. I would think that just having exposure on national TV may generate interest somewhere, and people may come out just as well without an offer from the sharks as with one. We'll see!