I was chatting with a friend the other day who had a great idea for a tech product that could be a big deal. He was talking about how he would like to be on Shark Tank and blow them out of the water. When I asked him how we was going to do that, he gave me a big smile and said, “I am going to break all of the rules.”
If you know me at all, it is no surprise to you that I HAD TO ask a series of pointed yet compassionate questions. In the end, my friend realized that breaking all of the rules could make him look naive, alienate all of the sharks, and end up with five “I’m Outs.”
After another 30 minutes of questions, discussion, and brainstorming, my friend and I landed on several strategic, savvy, and smart ways to challenge the rules without breaking them. He can use them with funders whether or not he lands a spot on the show.
My lesson: Challenging established rule on the margin can lead to big returns.
Have a great day,