Shark Tank Type Show For Online Businesses

Discussion in 'Making Money Online' started by Diane Lane, Jun 25, 2015.

  1. Diane Lane

    Diane Lane
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    There isn't one that I know of, but wouldn't that be great?

    Of course, the business would have to be a big money maker, and create/sell a unique product, for which there was a huge demand, but I'd like to see this type of show in the future, since so many people are working on the internet, and looking to create online businesses.

    Do you think something like this would be feasible?
     
  2. ddoesmc

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    That would be amazing! It should be one that you do from your home with the host at a studio and if you move on, you get invited to the studio. That would be super helpful!
     
  3. Joseph.Shivell

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    Why couldn't someone with an online business go on the existing "Shark Tank", or someone who has appeared on "Shark Tank" create an online presence for their business? Or, would this be a spin-off or version of the original "Shark Tank" exclusively for online business? What kind of legitimate business would be exclusively online (there are some whose legitimacy could be questionable)?
     
  4. Business Attorney

    Business Attorney
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    I've watched almost every Shark Tank episode from the beginning and there have been a number of online businesses featured on the show. Many of them have been product-based businesses that are sold primarily, and in some cases, only online. There have been at least a few that were entirely online or mobile apps.

    I think the thing that makes many of the deals on the show attractive to the sharks is the ability to get increased distribution for the products, which means expanding away from the online-only sales strategy.

    There also is something that is appealing about a physical product that you can touch, feel, taste, etc.. that would be hard to duplicate if the business were an online concept. Explaining the next Groupon, Instagram or Facebook would be harder to do within the constraints of a non-interactive medium like television.
     
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  5. Sotaru

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    Just like BA said, there have been a lot of online businesses on the 'Tank.

    With that said, I would love to see more as I love to see online businesses succeed.
     
  6. Diane Lane

    Diane Lane
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    I wasn't aware they've featured online only businesses. I've seen a lot of episodes, but not all. You make a good point about the appeal of physical touch, feel, etc., and that's an issue I'm experiencing with my online shops. I think that's why online crafters tend to be more successful when they also have a real life component, for instance, participating in local craft fairs, so they can present their products to customers who could then follow them online, and being aware of the styles and quality of their products, purchase additional items from their internet shops.

    My initial question was, would it be feasible, so I guess in order for it to be online only, versus a combination of online and in person, it would probably have to be digital items, although, those could also be sold via mall kiosks, and storefronts.
     
  7. Khalid

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    Excellent question Diane. I love Shark Tank and watch it every chance I get, like tonight!

    Some people commented on the fact that many participants in the show sell their good online, but also in person in retail stores, markets, specialty stores etc. Although there is an "online" component to these businesses, I wouldn't define them as online businesses per se.

    In my mind:
    Physical goods sold online = eCommerce
    Digital goods and services sold online = online business or internet business

    That is the realm that excites me the most as distributing/selling information has many benefits over physical products.

    But back to your original point, there may not be a TV show about these internet entrepreneurs but there are numerous podcasts such as Entrepreneur on Fire and Smart Passive Income that interview them. The other closest thing might be to check out internet entrepreneurs' income reports. I posted one recently for 10 entrepreneurs who are excelling online if you want to check it out.
     
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    #7 Khalid, Jun 26, 2015
    Last edited: Jul 10, 2015
  8. Damien Lee

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    I would love to see a show like this, am a huge fan of Shark Tank. Absolutely, budding online entrepreneurs need all the resources they can get. It's actually harder to earn online than it is with a traditional offline business. The reason for this is that we're still in relatively new territory, we're still trying to figure out a lot of stuff and work out the kinks. Bringing on successful online entrepreneurs while using the Shark Tank formula is exactly what we need.
     
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  9. Diane Lane

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    Thanks @Khalid and @Damien Lee I agree, online businesses are separate and distinct from brick and mortar businesses, and we have unique challenges. If we can address and overcome those differences, perhaps we can figure out a way to thrive. It would be wonderful to have some support from people like the Sharks, geared toward virtual businesses, and how to grow them and succeed. There doesn't seem to be a standard formula, and technology changes so quickly, that it seems to be a steep uphill climb.
     
  10. Khalid

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    Hi Diane, you made some interesting points. Based on this thread it seems that there is a need and subsequent business opportunity for internet entrepreneur coaching. I recall hearing on a podcast a few years ago about someone who was connecting new entrepreneurs with seasoned ones for Skype or telephone calls. The connector would take a percentage of the coaching fee.

    I used to view the "no standard formula and constantly changing technology" as a bad thing until I realized it could be an advantage. A constantly changing world is continually leveling the playing field. Old methods that worked just a few short years ago with say SEO and ranking in Google, no longer work! So those experts are in the same boat as everyone else and having to unlearn and relearn what works in 2015. There is an opportunity then to stay ahead of the curve and even update old information that is outdated. It's like in surfing where there are constantly new waves coming in to catch. For changing technology that could be VR, Occulus Rift, 3D printing, apps for wearable apps etc.

    Because it is such a steep upward climb many will struggle and require support. This is where we can come in and help make people's lives faster, easier, more fun and more profitable as we help them reach their goals.
     
  11. Elysium

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    Shark Tank has had many online businesses, for the most part they all have some kind of online presence anyway. From selling online to shipping in person, most businesses nowadays all have some kind of online business.

    However with that said, I would like to see CEO's that built an online business from the ground up, someone with the knowledgebase of online companies, like Damon has with clothing.

    Shark Tank is a show for businesses, online or physical. I don't see how separating one from the other would help.
     

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