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I couldn't find a thread that was about what I was looking to get answered, I apologize if these questions were already answered.
I watched a few episodes of Shark Tank for the first time yesterday. Learned a few things which was great.
What I got out of it was: They found a problem and desire, yes yes good good. They made the product, they were able to get in retail stores. Most of them were making a 100k-500k in sales a year by selling in just off of their website they created for the product and some were selling in retail stores as well.
But they were getting PAID at all. Which of course made the sharks kick them out.
Now most of these products were very good. But they were making a dime, they weren't able to even pay themselves. It was a bit discouraging, if these people who have excellent products cant even get paid, how is a noobie supposed to make a dime.
What were the main problems these people had? Product cost too much to make/manufacture? Too much money to pay for distribution? Or were the products just not that good in terms of ACTUALLY solving a NEED?
I watched a few episodes of Shark Tank for the first time yesterday. Learned a few things which was great.
What I got out of it was: They found a problem and desire, yes yes good good. They made the product, they were able to get in retail stores. Most of them were making a 100k-500k in sales a year by selling in just off of their website they created for the product and some were selling in retail stores as well.
But they were getting PAID at all. Which of course made the sharks kick them out.
Now most of these products were very good. But they were making a dime, they weren't able to even pay themselves. It was a bit discouraging, if these people who have excellent products cant even get paid, how is a noobie supposed to make a dime.
What were the main problems these people had? Product cost too much to make/manufacture? Too much money to pay for distribution? Or were the products just not that good in terms of ACTUALLY solving a NEED?
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