We caught up with Jen before their episode reruns on July 3. Here is what she told us about…
Their New Products:
We are launching a 50 Caliber Wine Opener within the next four to six weeks. We are very excited about it. It’s the only 50 caliber wine opener on the market with a pivotal leverage bar and a retractable corkscrew, these features allow it to still look like a 50 caliber bullet and lets us offer personalization/engraving on the backside.
Kevin & Mark’s Involvement:
We work with both Sharks often but in different way. Which is why we love having two, as Eli said after we left the Tank, “One is none, two is one”. Kevin is great about getting us media, making moves, and always talks about the future. What we can do better, how to market ourselves, what’s next is always a hot topic. We work heavily with Mark’s team with their Accounting Manager, Business Specialist, and Website Design. Having two Sharks was one of the best decisions we ever made, and was the only plan going into the Tank. Come out with two.
What She Learned From the ‘Tank’:
1. How to quickly scale, which has been the most difficult thing we have done to date.
2. Mr. Wonderful really is wonderful
3. The power of Shark Tank is like a fast moving train. Enjoy the ride but be ready.
Her Advice for Contestants:
– Watch the first 6 Seasons, take notes, and have someone test you on those questions.
– Pick five or six main points you have to hit on to sell yourself. Are you a military family? Did you quit your job to make it work? Be sure to tell your story and intertwine it with your pitch and Q&A session.
– Know your numbers, but not just by memory. Really understand how your business works. For example, you sell 50,000 units of your product overnight. What does that do to your margins? How will you grow? With the increase in overhead from new growth, what will that do to your bottom line?
– And remember, be confident, but not cocky. The Sharks all built what they have, just like you, they are people.