Secret Academy Episode - Kevin HarringtonAbout:
Kevin Harrington is best known for being one of the originals sharks on the hit TV show, Shark Tank, but he has been a wildly successful entrepreneur for more than 40 years launching over 20 businesses, each growing to over $100M in revenue. Kevin has also launched over 500 products generating over $5 billion in sales globally with names such as Tony Little and George Foreman. Currently, he runs a private consulting firm working with companies to increase their distribution, analyze retailing opportunities, source manufacturing, celebrity connections, increase stock value, and effectively market on social media.
Lesson's in Today's Interview:
- Entrepreneurs don't necessarily fit a stereotype; they can be any age, race, gender, etc
- What he looks for when considering whether or not to invest in a business
- Most successful and craziest company he invested in on Shark Tank
- When starting a business, ask yourself the following questions: Does it solve a problem? Does it solve a problem uniquely? Does it appeal to the mass market?
- Visual demonstrations are a very powerful tool
- Niche versus mass markets
- Selling products on QVC/HSN versus selling online
- First thing he looks for in a product is proof of concept
- Two main ways to sell a product
- Why going into a partner-type situation would be a good idea for first projects
- Two reasons why entrepreneurs fail
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