Become a Top Wedding Planner – Learn Success Lessons from the Television Show “Shark Tank”

 

The new season of the television show, “Shark Tank,” aired last week. This is the show in which entrepreneurs seeking funding go before a panel of five “sharks,” self-made millionaires and billionaires, to interest them in investing in their companies. The entrepreneurs are selling products, not services such as wedding planning, but you can still learn lessons on success from this show.

Here are 3 ideas that can help you as you build your wedding planning business:

1) If you have a partnership, even with a spouse, make sure you are treated equitably

One woman had created a business with her ideas. Her husband owned 50% of the company and she owned 10% because as partners joined the company, she gave each a percentage of her share. This surprised the panel – Why had they not equally given up shares, especially since the business ideas were hers? She didn’t know. One shark backed out immediately because he had had a bad experience in the past when dealing with someone who didn’t have full control. Another asked her if she had a pre-nup.

You need to make sure you are treated fairly in any business partnership, even if it is with a spouse or family member. You might want to have a contract drawn up to protect everyone involved.

2) Don’t give up on your dreams

There was a segment with an entrepreneur who had not been given money last season because the sharks didn’t feel he was a good candidate. Being turned down energized and motivated him to work hard and become successful. His food products have since been sold in supermarket chains throughout the country – all because he took action in spite of the fact that the sharks did not believe or invest in him.

3) 20% of life is what happens to you, 80% of life is what you do about it

We all know people, or have heard of people, who have had unfortunate things happen to them in their lives but were still happy and successful. This is because they didn’t allow the things that happened to them run or ruin their lives. Bad things do happen, decide that you won’t allow anything to stand in the way of what you want or who you want to become.

The show airs Friday nights on the ABC television network. You can also see the full episode on their website.



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