SHORT ANSWER THE 5 QUESTIONS BELOW Entrepreneur Erin Whalen shares her Shark Tank experience… Thump. Thump. Thump. My heart was pounding as if cannons were firing inside my chest as lights flashed across my face, cameras circled around me, and five multi-millionaire investors stared me down from across the room. I then began the most important business presentation of my life: convincing these investors, also known as "Sharks," that my business, Grease Monkey Wipes, was worthy enough of their investments and equity stakes. My partner and I were competing on the Mark Burnett-produced ABC television show Shark Tank. We had spent countless hours fine-tuning our business plan, perfecting our pitch, and practicing the answers to anticipated questions, all the while knowing that millions of people across the globe would watch our presentation. In the final moment, everything was on the line with just a simple question posed by one of the Sharks: "Erin, in one sentence, tell me why I should invest in your company." ASSIGNMENTS – READ BEFORE WATCHING VIDEOS: Create your own thread and provide five thorough paragraphs, one for each of the following questions: 1) Cite three topics that are represented in the Grease Monkey Wipes videos. Assess the relevance and/or importance of each concept or topic. 2) Suppose you could be a shark in this episode. What questions would you ask in order to thoroughly evaluate and value the Grease Monkey Wipes business? What information did the sharks miss? Feel free to use topics not mentioned in the text and even your own “gut feel” for what information you think is needed. Would you invest with Erin and Tim? Why or why not? 3)Research and define the terms “Venture Capitalist” and “Angel Investor”. Be sure to properly cite your sources. What’s the difference between a venture capitalist and an angel investor? Are the sharks’ venture capitalists, angel investors, or some combination of the two? Specify the relevant characteristics of each in your answer. 4)Erin and Tim requested $40,000 for a 40% equity stake in the actual TV episode. Dividing the dollars by the percent equity stake $40,000/.40 = $100,000 valuation for the company. But in the casting tape video Tim and Erin ask for $200,000 for a20% equity stake. What is the casting tape valuation for the company? Why do you think Erin and Tim changed their request? 5)In the TV episode Tim mentions that Grease Monkey Wipes have been on the market for a few months and they have sold 7,600 units with gross revenue is$7,400. In the update video Erin mentions that Grease Monkey Wipe has sold over 200,000 units and their sales have increased by over 700%. Is this growth rate sustainable? Provide facts or calculations to support your answer. READ QUESTIONS ABOVE, THEN WATCH THESE VIDEOS -Review the information about the current Shark Tank “sharks” athttp://abc.go.com/shows/shark-tank/about-the-show. If you are a current fan or viewer, you may already be familiar with this information. -Go to the following Grease Monkey Wipes website “Videos” page http://www.greasemonkeywipes.com/Videos_ep_52.html Watch the first three videos on the page: 1-Shark Tank Episode: Original Air Date January 15, 2010 (12 minutes) 2-Shark Tank Update: Original Air Date April 22, 2011 (1 minute) 3-Shark Tank Casting Tape (5 minutes)
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