Wombi Rose, a cofounder of Lovepop, successfully earned an investment deal on “Shark Tank” in 2015. He spoke with Business Insider about how he and his business partner prepared for their big pitch, and his advice is relevant for any budding entrepreneur. He said that knowing the financial details of his company inside and out was most important.
In the nine years “Shark Tank” has been on the air, we’ve seen hundreds of hopeful entrepreneurs pitch their ideas in front of a panel of celebrity investors, only for a fraction to actually land a coveted business deal. But before they can get an offer from the likes of Mark Cuban, Barbara Corcoran, Daymond John, or Kevin O’Leary, contestants on the show need to nail the sales pitch of their lives. Wombi Rose and John Wise did exactly that on a 2015 episode of “Shark Tank” when they persuaded O’Leary to invest in their company, Lovepop, which makes pop-up greeting cards. Three years later, Lovepop has mushroomed from six employees to more than 1,000 worldwide. A ‘Shark Tank’ entrepreneur who won $300,000 realized previous contestants were doomed by the same type of question
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