‘Shark Tank’ entrepreneurs share five business secrets in new book

shark tank book
Celebrity “sharks” like Mark Cuban and Barbara Corcoran shared their business wisdom with author Michael Parrish DuDell. Credit: Hyperion

There are plenty of fish at sea, but there can only be a few sharks, as ABC’s hit show “Shark Tank” proves. The show features celebrity investors who evaluate pitches from aspiring entrepreneurs and decide whether or not they want to invest in the idea.

Celebrity “sharks” like Barbara Corcoran, Mark Cuban, Lori Grenier, Robert Heravec, Daymond John and Kevin O’Leary shared their wisdom with author Michael Parrish DuDell in “Shark Tank: Jumpstart Your Business” – you can listen to the audiobook for free.

DuDell, himself an entrepreneur who runs Race + Vine, a marketing and branding consulting firm, told Metro that he plans to apply the lessons he learned from the “sharks.” Here are five key tips DuDell shared with Metro readers.

1. There is no substitute for hard work: DuDell said to forget any get rich quick schemes. “Because of technology and what we’re able to do quickly, there’s a movement to find work hacks and to work smarter, not harder,” he told Metro. “That’s important, but the fact of the matter is every single person you see on the panel got there because they worked really, really hard and put in the hours and the time.”

2. Learn to sell: DuDell said entrepreneurs often underestimate the importance of salesmanship, figuring they’ll hire a sales team down the line. “A lot of entrepreneurs don’t think of that,” said DuDell. “If you can’t sell you can’t be an entrepreneur.”

3. Put your passion in the right place: This is one place where the sharks disagree with each other. Mark Cuban does not believe entrepreneurs need to follow their passion in order to be successful, but Lori Grenier thinks it is paramount to success. “The person who gets it right is Daymond,” said DuDell. “What he says is you have to love what you’re selling, but the part you have to be really passionate about is the daily running of the business. If you’re not passionate about the day-to-day, the business will never succeed.”

4. Forget business school: All of the businesspeople DuDell spoke with believe business school is a waste of time. “I brought up the issue of an MBA and everyone said in this day and age, it’s not worth it — create your own MBA,” said DuDell. “You don’t need to go to school to be an entrepreneur.”

5. Work-life balance is a privileged right: Though magazine articles stress over and over again the importance of work-life balance, Robert Heravec told DuDell work-life balance is something he earned after 20 years of hard work. “Work-life balance for the entrepreneur isn’t something you just get or expect — you really have to work and earn that,” said DuDell.

Follow Andrea Park on Twitter: @andreapark



News
Entertainment
Sports
Lifestyle
National

Thousands protest in New York over Eric Garner…

The Reverend Al Sharpton led thousands of chanting but peaceful activists in a march across Staten Island on Saturday to protest the death of Eric Garner.

International

Egypt calls for Gaza ceasefire as fighting rages

Egypt called on Israel and the Palestinians on Saturday to halt fire and resume peace talks, but violence continued unabated.

National

SpaceX rocket terminated in Texas test flight

A Space Exploration Technologies’ Falcon 9 rocket suffered an anomaly shortly after launch on a test flight, triggering its automatic termination system.

Local

MAP: New York City Street Closures August 22,…

The Percy Sutton Harlem 5K and NYC Family Health Walk-a-thon and Pakistan Day Parade and Fair will cause traffic delays and street closures in New York City this weekend. Plan…

Music

Arcade Fire concert review, Massachusetts, Aug. 19

Arcade Fire take the opposite approach of "Shut up and play the hits," and it works in their favor on the "Reflektor" tour.

Television

Recap: 'The Knick,' Season 1, Episode 3, 'The…

The third episode of Steven Soderbergh's "The Knick" finds Dr. Thackery (Clive Owen) meeting an old flame and other characters embracing self-destruction.

Music

Webcast: Watch Polyphonic Spree live on Sunday Aug.…

Polyphonic Spree singer Tim DeLaughter sits with Metro Music Editor Pat Healy for a chat and then the big band performs live. It begins on Sunday at 9:30 pm

Movies

Matthew Weiner on directing 'Are You Here' and…

"Mad Men" creator Matthew Weiner discusses his movie "Are You Here," his history writing comedy and the tiny movie he directed in 1996 you can't see.

NFL

3 things we learned about the Giants in…

The Giants claimed the Snoopy trophy in a battle of MetLife Stadium tenants Friday night. But more importantly, the offense finally showed some life in…

NFL

3 things we learned about the Jets in…

The Jets lost the Snoopy Bowl, 35-24, to the Giants, losing the trophy and local bragging rights.

NFL

Fantasy football draft guide: How to draft your…

Many are wondering if we’re entering a new age in fantasy football drafting — one where running backs take a backseat.

NFL

Jets vs. Giants: 3 Giants storylines to watch

The Giants have plenty to work on as they reach the dress rehearsal preseason game Friday night against the rival Jets.

Wellbeing

Asics is giving away free gear around NYC…

Asics wants to see you on the court - and in the stands for the U.S. Open, which begins Monday - by giving away free…

Sex

Big weddings may lead to long-term happiness

Dreaming of a big wedding? A new study indicates that the longer your guest list, the happier you’ll be in the long run. l A…

Sex

Online dating for every generation

Frank Jackson and his mother Maggie are like lots of modern families: They have dinner together regularly, keep each other updated on their lives —…

Wellbeing

Going green could be the key to getting…

If we could just pursue the things that would actually make us happy, we could help the environment too, according to a New York researcher.…