All Shark Tank

Shark Tank Season 2 – E3

Tag International – Commando Experience

Michael Donaldson

The Commando Experience is something I would love to do, get a whole lot of friends together and go on a simulation of a Commando operation- this would be a challenge!  If you are looking for a business partner, then with Michael you would get someone who is driven, focused and highly disciplined- all the traits you need in business. During his pitch he told us some pretty amazing stories about when he was in the field and I have to say that I am pretty happy that people like Michael are in this world to help keep us safe.

The programs that Michael offered are well run and planned, I just wasn’t sure if it was scalable. Michael was very impressive and if Michael could duplicate himself 10 times, then I was an IN, but at this stage I was not convinced.

TIP:  When starting a business, there are a couple of things you should consider:- is your business scalable? i.e. can you grow the business, or is the business based on you. i.e consultant. Neither is wrong, but if you want a good solid income and do something you love, then having a business that relies on you is fine, these are normally businesses like consulting, law, and accounting. But if you do want a business of scale, then you have to create a business that does not rely on you. So when getting into business, decide which one you are, because this may also dictate the name you give your business and how you go about growing and creating your business dream.

Extreme Shredder

Sally Matterson

Extreme shredder body shaping.

Sally knew her numbers and had done her research. Her business is a subscription fitness business.  The problem is that everyone who is anyone, and some who are no one are getting into this space.   People like Michelle Bridges have made a huge success out of this model and subscription-based fitness online is now massive in the Australian and world market.  I could not see the point of differences that she had in her system other than balancing hormones, which I did not think it was enough.

The real horror of her pitch was seeing right at eye sight, Steve, Glen and Andrew’s bums wriggling at me, I may never get that vision out of my mind!

TIP:  When launching a business, do not try and be better, be different.  Anyone can say they are better, but be different and make it clear what your differences are to your consumers.  If you want more rules to follow I love the 22 Immutable laws of Marketing.  It is an oldie, but a goodie.

Troppo Bicycle

Richard Ploszaj

Richard – $5 millon for 49%- 100% financially secure and risk free.  Projected return of $5 billion in 2020. MMMM REALLY??!!! Remember how I have said in the past that if it looks too good to be true- it probably is?  Well, this is going to be my example going forward.  For a start, you can never ever, tell any investor in business it is RISK FREE, because there is no such thing as a RISK FREE investment.

Richard is obviously a very clever engineer, but to say big broad statements without the facts is dangerous to investors.  Just like claiming the bike can win the Tour due France without knowing the rules, just makes him look foolish.   Just because in the world there are 150m bikes sold, does not mean you will automatically get 5% of these sales.

He was a classic case of not reading the fine print.  To think that the government would give you 5 million dollars because your raised 5 million dollars and then your investors can take their 5 million dollars back was ridiculous.   Talk about not knowing your business and living in the land of the fairies.  …! Numbers are important to understand your business and sales, but to think that XX amount of people are going to rush out and buy your product so that you will make $5 billion dollars is just stupid.  He did not consider execution risk. Other than all of the above, I loved the ideas… Not.

Tip: speak to people who have been on the journey before you, and do realistic valuation and sales projections.


Michael Timbs

I liked Michael, super smart guy who had a vision for assisting punters and hopefully winning more money for the people who love to bet.  I was in two minds with the betting industry.  I know that there are many people out there that have a terrible gambling problems that have ruined lives.  I also know people, my husband and son included who have a lot of fun having a sensible bet on the horses. Having listened to my son and my husband talking about this horse and that horse and this, I know that you can get really good tips for free online.  I think there is a business there, that could scale.  But he was not valuing execution risk.  So this business was not for me.

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  • Reply
    Dr Mark Glazebrook
    May 22, 2016 at 10:44 pm

    Well captured comments Janine! It’s an art to find the sweet spot between vision and value. I love it that so many people have a dream and do something about. I ran an inventing session with young mums who have had disrupted education last week in Ballarat. It was humbling to see them move from ‘I can’t’ statements to some seriously commercial ideas. Self belief is everything!

  • Reply
    May 23, 2016 at 1:16 pm

    Hi Janine, do you think Steve Baxter rushed into the Betswap investment after first saying he would not go any lower than 35%? He did a major turnaround. Also agree with you, why would people pay for tips when they are everywhere for free?

  • Reply
    May 23, 2016 at 9:35 pm

    Hi Janine, just curious to where your dress and shoes were in from this episode, you looked great! Thanks

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