The hit TV show Shark Tank is a false reality of what actually happens in startup pitches.
A real pitch is much longer than the 10 minutes they air on TV. Five investors aren’t fighting each other in one room to make a deal. And no one is threatening to revoke their offer if you don’t make a decision in five seconds.
SHARK TANK – Mark Cuban, Daymond John, Barbara Corcoran, Kevin O’Leary, Robert Herjavec and Lori Greiner are “Sharks” on ABC’s “Shark Tank.” (ABC/ADAM TAYLOR)
When I was looking to raise money, I wanted to hear real conversations from entrepreneurs in the same boat.
That was when a friend recommended The Pitch podcast.
The Pitch is like Shark Tank but in podcast form, the first show in this format for listening on the go.
Entrepreneur Josh Muccio and angel investor Sheel Mohnot created The Pitch to help make the world of venture capitalism more transparent for entrepreneurs like myself.
The show features early-stage companies that have solid potential to raise investment money, usually between $500,000 and $5 million.
Unlike Shark Tank, where the five “sharks” invest in a wide range of industries, The Pitch brings on relevant investors tailored to each entrepreneur’s business.
I was skeptical about how realistic this all sounded… but I listened to a few episodes from The Pitch and the vibe was much different from Shark Tank.
The podcast starts off with a one-minute pitch from an entrepreneur about his or her company. Two investors quickly chime in with questions.
“What is your user acquisition cost?”
“How did you and your team come together?”
“What are your plans to scale this?”
This conversation is much more casual than what you see from the overly dramatic sharks.
After the back-and-forth conversation, The Pitch takes it a step further.
They put each investor in the spotlight for raw feedback on the entrepreneur.
Before I hear this part, I usually think, “They did so well with their pitch and the Q&A. What could the investors possibly say?”
The investors point out places the entrepreneur could have spent more time in the pitch. Or where the entrepreneur was purposely vague in sharing the numbers. And many other details that never occurred to me.
What sounded like a stellar pitch to me turned out to be incredibly flawed to investors.
Mind… blown.
My pitch
The Pitch helps entrepreneurs on the show get funded. They give angel investors an opportunity to listen to deals during their commute and invest after the show is over. And they help aspiring entrepreneurs know how to best prepare for a meeting with a VC when they raise money.
It’s a win-win-win situation.
The show has 15 episodes and averages 35,000 downloads per month since launching on July 22, 2015.
I’m willing to bet that this podcast will grow to be much more valuable for everyone in the startup ecosystem as it continues to get legs.
If you’ve listened to The Pitch, let me know in the comments section. Love it or hate it, I’m curious to know if you think this is educational or just entertaining.
Check out The Pitch podcast here.
