Lessons From The Tank

Shark Tank, an internationally renowned investment program, landed in Malta last year. Here startups had the opportunity to pitch their ideas to five sharks who then had the opportunity to invest in these startups.

 

The Start Up Festival which took place in Malta on the 13th and 14th of October brought together some of the people who were a part of the show in order to discuss what the show was like and give advice on what one can do when they are faced with an investment opportunity.

 

During this panel, key points to improve entrepreneurial skills were addressed as a follow-up of the first edition of Shark Tank Malta. Mark Bajada focused on the importance of work-life balance and time management to keep up with coordinating more than one company. An important observation from Donna Cardona was that nowadays there are many more opportunities to help students or future entrepreneurs to grow in this field. She insisted on attending such events to initiate ideas, find the right gap in the market and adapt to Covid-19 and other interventions proactively.

 

Fabianne Rugier continued to give advice about pitching during Shark Tank such as planning and preparing for the company’s assumptions and figures of revenue to be challenged by the sharks. Important concepts such as valuation, shareholding and negotiating were all exposed to the public in practical situations, as highlighted by Anthony David Gatt.

 

Mark also shared his strategy of listening throughout and speaking last after the pitches conclude, while also emphasizing on the importance of AIDA; Awareness, Interest, Desire and Acquisition.

 

Finally, Donna closed off the session with her personal experience of working with an investor that has expertise and contacts in the field, not just a source of financial resources.

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