Sharktank recap: Fastest deal ever

Image taken from the Youtube Video, click on the link to watch

That was such an interesting video that I have watched.

The business idea was quite simple: Training course for people who own the drones. It was quite evident that the drone is a new hobby that everyone loves. But in the video, one of the sharks said that the return rate for the drone was like 60%, which indicates a high level of unsatisfaction.

However, the business model was successful due to a simple fact:

To solve a problem that potential clients are facing

3 points to learn from the video:

Your business should aim to solve an existing problem

From the clip, she mentioned that the problem for most of the drone owners was they couldn't operate their drones well, which lead to the crash, losing money and happiness in the drone hobby. Her business aimed to support them by providing a training course on how to operate the drones effectively.

She approached her potential clients via both traditional and new method: Online courses and offline training with real-life practice. By providing on-the-job training, she let her clients try and learn how to operate correctly.

Choose the right customers and make it grow

She mentioned that the first targeted audience was the drone's owner. By giving lessons and tutorials, her business took $400 per one training session, which was quite successful. Afterward, she extended her network of instructors so that she could implement in more cities.

Then, she recognized that corporate learners were joining and water to learn for commercial purpose. For every business, we should always focus on both types of clients: individual and corporate ones. By extending the focus to corporate clients, she increased her revenue and her curriculum to the next level. Commercial use required extended training in detail, and in this case, her clients could pay more to have more experience and knowledge because they will make money from the course.

Nothing is like real experience to your client

From the clip, you can see that she gave the controller to one shark, let him play around with excitement before landing the deal.

I could say that one of the significant influence that leads to the successful deal was the real-life experience of the drones. I believe that other sharks were amazed at how easy it was to operate the drones with her training course so that getting the deal was easy.

I hope that you could find something useful in this article and see you in my next post.