Sony Pictures Television brought innovation and opportunity to the forefront with The Clover x Shark Tank Summit, a three-day entrepreneurial experience held Sept. 28–30 at The Venetian Resort Las Vegas.
The summit was designed to educate entrepreneurs, offering direct access to those affiliated with the hit television series “Shark Tank” and other influential business people. Attendees gained valuable insights, networked with potential investors and partners and some even secured investment for their business ideas. They participated in interactive sessions, pitch competitions and networking opportunities that blended excitement with the real-world challenges of building a successful brand.
Notable “Shark Tank” Sharks who spoke at seminars and shared their experiences included Robert Herjavec, Barbara Corcoran, Daymond John, Mark Cuban and Kevin O’Leary. Guest shark speakers included Tabitha Brown and newer Shark Daniel Lubetzky.
Herjavec and O’Leary had been hosting a similar show in Canada for almost five years when they were approached first to be part of “Shark Tank.”
“My first reaction to being asked to do this format was that I’m going to be the next George Clooney. I’m going to be famous; I’m going to be on TV,” Herjavec laughed. “Then you realize how great the show is, and how much it helps entrepreneurs. As a business guy, that’s what you get excited about.”
Herjavec commented, “I think when you have no money and you’re broke, your main motivation is survival. Once you get beyond survival, you want to build something great. And it’s a great purpose. I think people in America have figured out ‘Shark Tank’ is an amazing platform. We’re an accelerant. If you get on Shark Tank, you’re going to get a lot of promotion. You’re going to get a lot of branding. You’re going to get an amazing partner to help you grow your business.”
Lubetzky is a billionaire businessman, philanthropist, author and founder and executive chairman of snack company Kind LLC. The biggest lesson he shares with entrepreneurs is about accepting a $60 million deal from an outside private equity firm, with the stipulation that the company be sold within five years.
“It worked out for me because I overcame that. It was a huge mistake to put my future in other people’s hands. An entrepreneur should never do that. An entrepreneur should always keep their options open. Even if you think, because when my investors at the time pitched that to me, they told me that in five years, you’ll be ready to move on. At that point, I thought I was ready, but I wasn’t,” Lubetzky explained. “Why should I have given away that option? It was a very costly lesson, because I had to pay them back. They put in $60 million. I think they got $227 million back for me to repurchase my company from them.”
His reaction to first being approached to appear on “Shark Tank” was that he first thought it was a prank call. “I was super excited because I watched Shark Tank with my wife and kids, and we paused and talked about deals. I think it’s a lot of fun to learn business, and I grow every time I watch ‘Shark Tank.’ I’m entertained, but I’m also growing and I’m learning.”
Other workshops focused on vital topics, including securing funding, scaling operations, marketing strategy and sustainable business practices. Aspiring founders received mentorship from past “Shark Tank” contestants, investors and industry experts who shared candid insights on navigating the highs and lows of entrepreneurship.
As for participating in the television program, supervising casting producer for “Shark Tank,” Mindy Zemrak explained, “It’s only getting stronger, and American businesses are more important now than ever. If business people are coming to an open casting call, they bring an application, which they can get online at abc.com, and a couple of samples of their product. If they’re applying online, they submit a very short form, and then we’ll talk them through the casting process. After 17 years, everyone’s still coming up with something new, and someone can be from anywhere and have their aha moment, and innovation is not going away.”
Throughout the summit, attendees forged meaningful connections with investors and innovators, laying the groundwork for partnerships expected to continue well beyond the summit. A pitch showcase with three entrepreneurs, Nikki Thompson Frazier (Sweet Encounter Bakery), Mallory Martin (Mended) and Joshua Hite (Plant Zaddy), pitched their businesses Shark Tank-style before an audience of industry leaders for a chance at funding and media exposure. In a fitting finale, all three walked away with investment offers.
Partner Clover (clover.com) offers an integrated software solution designed to streamline operations, enhance guest experiences and boost profitability through insights. Products and services were showcased in the expo during the summit.
By combining education, entertainment and opportunity, Clover x Shark Tank Summit underscored the dream of entrepreneurship through innovation, business and creativity.
