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Reality Show Seeds Entrepreneurs Banks aren't lending like they used to. Credit card companies are reeling in their lines. Even the in-laws are tapped. But there's still one outfit that's offering a lifeline to the startup hopeful: Shark Tank, a forthcoming reality show on ABC, is looking for entrepreneurs with original business concepts and exceptional drive. Participants will be competing for serious startup capital, advice and support from five deep-pocketed business owners. Winners won't get a new car or a trip to Hawaii, but they will get their dream operations off the ground with, in some cases, seven-figure investments.
The show, due late this year or sometime next, is in the hands of reality king Mark Burnett (producer of Survivor, The Apprentice, and The Contender), who is polishing a concept already tested successfully in Japan, Canada and the U.K. (Dragon's Den). The fireworks, he says, won't ignite between competing entrepreneurs. Rather, the drama will come when the investors fight with each other to woo these would-be business owners. And they'll be using their own money. "In this situation we lined up five wealthy sharks who have the money to invest," he says. "Entrepreneurs come in one by one. There's no elimination. There's no game there. Each entrepreneur gives their business pitch - who they are, why they're worthy. Either the sharks are in or out. If all five say, 'I'm out,' the entrepreneur leaves empty handed. If more than one shark remains in, then there's blood in the water because then these sharks go against each other." Burnett, one of pop culture's most au courant zeitgeist surfers, says the time for an entrepreneurial reality show in America is now. The economy's chum, layoffs are epidemic, and workaday Americans are dreaming more than ever about an entrepreneurial life sans the corporate lifeboat. "Having a job is risky," he says. "I bet a lot of people who had safe jobs are saying, 'I've always wanted to work for myself." He should know. An ex-military officer from the U.K., Burnett landed in the United States in 1982 en route to a security consultancy in Latin America. He decided to stay and ended up peddling t-shirts on the Venice Beach boardwalk in Los Angeles. He expanded his clothing endeavor to area swap meets before testing the Hollywood waters and helping to pioneer reality television on primetime American airwaves. In his own time as a street-level retailer, Burnett says, "I learned, honestly, more about people than I could have ever imagined. It's still with me today. You have to sell and market and be responsible for the product." That core spirit and survival instinct will be on display with Shark Tank, he promises. The investor sharks are to include internet security guru Robert Herjavec, infomercial king Kevin Harrington, real estate magnate Barbara Corcoran, Canadian investor Kevin O'Leary and FUBU sportswear founder Daymond John. "The big moments are the gut checks for the vying entrepreneurs," Burnett says. "Believe me, you'll see occasions where significant, seven-figure deals are turned down by the entrepreneurs." The startup hopefuls have yet to be chosen, and Burnett is opening his casting call to Entrepreneur readers who think they have the right stuff. The show will emphasize not only original business plans, but personalities that have energy, enthusiasm and stamina. "You've got to have this drive and belief and action joined with a viable idea," Burnett says. "It's real money," he says. "It's not show money. It's real life. It's not a game show." Log on to ABC.com for casting information.
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| Posted under: Ideas, Money, Small Biz News, Startup
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They are looking for people but i have been seeing the advertisements for months and I look forward to seeing it when it finally airs. T.V. is in a sad state of affairs these days. I rarely look at it. What i do look at are judge shows, game shows and reality shows. Some of those reality shows need to be off the air. But I can honestly say Mark Burnett is the Steven Spielberg of reality shows. Stephen Spielberg never made a movie that I did not like. Mark Burnett never made a reality show I did not like. All his shows are winners. I am struggling to get my home based business off the ground. I am working on trying to design my website and I've loaded the images and having trouble with the text. I do not know what I am doing but I will keep at it until I do. I know there are a lot of people have lost their jobs like myself just last month but I will keep on keeping on. My site will feature name brand products for lowball prices keepin in mind the satate of the economy. Also if someone had a reality show idea how would they pitch it to Mr. Burnett or whoever they need to contact. I pitched a idea to Disney many years ago, a synopsis for a screenplay about a woman who practices witchcraft getting choked on a chicken bone and dies and come back from the grave and catch her husband with her best friend. I recieved a letter from Disney saying thank you but we use our own in-house writers yada yada yada. Six months later I am watching T.V. and there is a commercial about a new comedy movie starring Shelley Long and in that commercial was my pitch my idea my story. I was stunned and shocked and later found out that this is very common in hollywood. I have a idea for a reality show how do I keep this from happening to me again.
i think that it is going be a great show. i will be watching but, in the mean time i would like to know how you started your t shirt business with little or no momey? i have a lot of things in place but no money. can you give me a tip or two? thank you .
Wow, what a great concept. Maybe the Reality Show will even spark viewers interest to start a business to take that first step. Can't wait to watch it.