Shark Tank Australia Season 3 Episode Two

Here we go again… it’s Tuesday night and we’re back in the Tank. First to face the Sharks is…

Generation Outcast Clothing
Paris and Lawrence have wisdom beyond their years. After leaving school at 15, the couple are now 18 and 21 respectively and have made some serious money from their e-commerce site. Kudos to them. Tapping into the digital era like pros across Instagram and Snapchat, their social media traction and conversion rates are enviable… and have even caught the eye of a key Hollywood celeb…
The Hammbag
Dylan and Tom are two lads who love the outdoors and wanted the utility of a hammock, backpack and towel in one product. Putting Mum to work to sew a number of prototypes, they have set up manufacturing in Bali. I’ll give them 10 points for enthusiasm, but whilst everyone says that it is a great idea – can these two create a business that is investable?

Andrew giving the Hammbag a run.

Vegepod catchup!
After investing in Vegepod in season 2, the company has gone from strength to strength. Now stocked throughout Australia, New Zealand and the UK, they’ve had dramatic growth with sales up 500% since last year! Having hit their financial forecasts for this financial year in the first two months… it is safe to say that I’m pretty happy I invested in this product. With Jamie Durie on their side as a brand ambassador, the Vegepod team have now expanded into the US market! In fact, if you want to grab one here is a link to RedBalloon – after all growing your own veggies is an experience.

Catch ‘N’ Release
Margaret and Peter have been working at their invention for a decade and a half. With intense passion for the Great Barrier Reef and its protection, the couple have spent their retirement funds on the project. However, with only 3 years left on their patent for the anchor retrieval system, and only 150 anchors in customers boats, time is fast running out.

Hoo Haa headphone 

Capital M, the colourful character from Hoo Haa Headphone, has invented a set of headphones with a retractable cord. He has no idea how to get it to market – but he thinks the Sharks could help and he has a particularly interesting offer for us all…

We listen intently, can you tell?!

Business can be fun. From where we sit it is paramount for entrepreneurs to pitch us with the cold hard numbers but also to love what they do. Business is business and we want to know exactly what we’re buying into but also that we can work with the founder to help them grow the business. Remember, if you miss an episode you can always catch up at Tenplay.
See you next week…
Images courtesy of Network Ten.

Grow & Scale Your Business by Naomi Simson

Tell Naomi a little bit about your business by completing the questions below. (It will take less than 60 seconds)

Answering your #1 Biggest Business Challenge question tip: 

Go beyond just saying "Poor Cashflow" or "Unreliable Team". 

Instead, give Naomi details & specifics on how this is currently your #1 Biggest Business Challenge. 

I.e. "Every month I'm struggling to pay my bills on time because there just isn't consistent cash flow coming into the business. I've tried sticking to budgets in the past & pay myself less to keep some extra funds aside for emergencies, but still every month there seems to be another financial fire to be put out. I don't know what to do about it, so I'm just grinding it out."

 

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