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Shark Tank India 3: Insights from Vineeta Singh and Radhika Gupta on strategies and negotiations
In an interview, industry leaders Vineeta Singh and Radhika Gupta shared insights into the unique qualities of the Sharks and how they add value to the business. Read to know more.
Shark Tank India, the TV reality show where budding entrepreneurs pitch their ideas to a panel of seasoned investors, has been making waves in the business world. The third season, which premiered on January 22, 2024, has seen some remarkable pitches that not only secured funding but also shed light on the unique qualities the Sharks bring to the table.
Insights from the Sharks: Beyond funding
In a recent interview with Think School, Vineeta Singh, co-founder, and CEO of SUGAR Cosmetics, and Radhika Gupta, Edelweiss CEO, shared valuable insights into what makes the Sharks extraordinary compared to other investors. Radhika Gupta emphasized the importance of approaching the show with a strategic mindset. She cautioned entrepreneurs against fixating on a single Shark, stating, “Every shark is there because they have been in this business for 15-20 years, they’ve built something, and sometimes the mistake that people make is that they come and say, I am here to take a deal only from this shark.”
She further highlighted the common mistake of solely focusing on capital. Radhika emphasized that equity and valuation are crucial, but founders should also consider whether they want to own 100 percent of something small or a stake in something big. She stated, “Even if you want to take a deal from that shark, first, I suggest you be nice to everyone else because you never know where life takes you and second, then you have better negotiating leverage. So, sometimes people come and say, ‘Mujhe ussi se deal chahiye’ and their whole eyes are focused and the rest of the panel gets very turned off. So one nice suggestion, if others have made you a deal and if you’re going to take someone else’s deal, just be nice.”
Sharing her experience, Radhika mentioned advising a founder not to take money from an investor solely based on an attractive valuation. Understanding the demands and expectations of investors is essential for a harmonious working relationship. Vineeta Singh added another layer to the Sharks' role by highlighting their role in showing entrepreneurs a realistic perspective. “One of the biggest things that I think we do is showing the entrepreneurs the mirror because, as a founder, many times you have a team reporting to you who will always be excited about what they’re building,” she said.
Realistic perspective from sharks
Vineeta emphasized the importance of recognizing when a business lacks product-market fit, even if it means delivering tough feedback. She shared instances where founders were initially resistant but ultimately benefited from the honest assessment provided by the Sharks. She said, “I’ve had many cases where I’ve really got to help them like go back and question that. Many times they’re not open to that feedback but the ones that are, they really unlock value.”
The third season of Shark Tank India features a diverse panel of judges, including Aman Gupta, Amit Jain, Anupam Mittal, Namita Thapar, Peyush Bansal, Ritesh Agarwal, Deepinder Goyal, and Azhar Iqubal. The show not only provides a platform for entrepreneurs to secure investments but also serves as a valuable learning experience for both the participants and the audience. Shark Tank India has not only created successful deals but has also transformed its judges into well-known celebrity CEOs. As the third season unfolds, it continues to be a beacon of inspiration for aspiring entrepreneurs, offering a unique blend of business acumen, mentorship, and reality television entertainment.
About Shark Tank India 3:
The Shark Tank India series draws inspiration from the renowned program of the same name, Shark Tank USA. The first season of Shark Tank India featured seven sharks who participated in and finalized various investment deals. The third season of Shark Tank India premiered on January 22, 2024. In the third season of Shark Tank India, the panel of judges includes Aman Gupta, co-founder and CMO of boAt; Amit Jain, CEO and co-founder of CarDekho Group; Anupam Mittal, founder and CEO of Shaadi.com; Namita Thapar, executive director of Emcure Pharmaceuticals; Vineeta Singh, co-founder and CEO of SUGAR Cosmetics; Peyush Bansal, founder and CEO of Lenskart.com; Ritesh Agarwal, founder and CEO of OYO Rooms; Deepinder Goyal, founder and CEO of Zomato; Radhika Gupta, Edelweiss CEO, and Azhar Iqubal, CEO of Inshorts. The show isn't just about getting deals; it also helps entrepreneurs understand their business better with input from the Sharks. However, not everyone on the show gets a deal, and some companies still become successful brands after the show. Shark Tank India not only created successful deals but also turned the judges into well-known celebrity CEOs. Back in December 2021, I never expected the show to have such a powerful effect, turning everyday CEOs into household names.
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