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Why Shark Tank is so successful?

telegraphindia.com - Here's why Shark Tank India is a hit with youngsters

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Summary The show has been offering insight into the technicalities of businesses and start-ups in the Indian context Students are greatly inspired by the judges and the participants to take up entrepreneurship as a career choice Shark Tank India has become a hit among the youth, tickling their brains and inspiring them with innovative ideas. A spin-off from the American show, the Indian version has not disappointed. Edugraph takes a look at what makes it so popular.

One-of-a-kind show

One of the key reasons why youngsters are hooked to Shark Tank India is that it is a one-of-a-kind Indian show based on business strategy and investment. It offers a great deal of insight into entrepreneurship. “I used to follow Shark Tank America, where big names like Mark Cuban, owner of Dallas Mavericks; Robert Herjavec, founder of BRAK Systems; and Lori Greiner, president and founder of For Your Ease Only, Inc; helped entrepreneurs whose ventures they thought had potential. I had mixed feelings about the Indian version in the beginning but decided to give it a watch. It has turned out to be a one-of-a-kind show,” said Ahana Gupta, a second-year Psychology student of Seth Anandram Jaipuria College. “I have been watching Shark Tank America, which is why I wanted to see how the Indian version would turn out to be. I couldn't keep calm. It is a delight to watch each pitch on the show. I take keen interest in business and entrepreneurship. I have learnt the nuances of running a business, such as, how one should weigh the cost, the input of every business to have a profitable outcome,” said Shreya Ghosh, a second-year BBA MBA (FS) integrated student at Techno India University.

Insight on business strategies

Students garnered a lot of practical-life business knowledge from the show. Those currently pursuing Engineering, Commerce, Economics and Statistics who wish to create a start-up shortly have picked up tips and tricks from the SonyLIV show. “I learnt that for a start-up to be successful one must check its feasibility and whether it can capture the market. It may not appear so to others but it must make sense to yourself so that you can convince the venture capitalists,” said Sutirtha Naha, a first-year Electronics and Telecommunication Engineering student of Jadavpur University. “Being clear and precise with the business plan is the first thing that I learnt. Also, one should be very clear about the problem the business is solving and know the market well,” added Ahana.

Simplifying business terms

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Students not only get to know about entrepreneurs and their business strategies, the planned execution, making the correct valuation but also learn business jargon. They are well-explained by the sharks in simple language. “A lot of pitchers on the show are from different institutions across India. Terms like B2B, B2C and equity are explained flawlessly. One need not necessarily study in a Tier-1 college to gain knowledge about start-ups. I appreciate the way the sharks handle each entrepreneur. Mostly, they are encouraging. This show breaks the stereotype that only IITians and IIMians can create start-ups successfully,” said Saptarshi Chowdhury, a third-year Statistics student of St. Xavier’s College, Kolkata. “The negotiation helps to understand the role of equity and valuation of a company. I learned that you should know the market so well that it should always be on the tip of your tongue and you can solve any problem within a short time. The judges give honest reviews,” said Saheli Sahoo, a first-year Computer Science Engineering student of Vellore Institute of Technology.

A humane touch to business

Profit is usually related to business but Shark Tank is just not about profit. Business ideas need to have a humane approach. All the judges encourage every pitch, be it a small-scale business or a unique one. “Shark Tank taught me that business is also about solving problems and helping people. One should never stop hustling, no matter what. Dreams do come true if one works hard enough for them. A corporate job gives you stability in life with nine to five working hours but the thrill in a start-up is unmatched,” said Rayesha Chatterjee, a first-year Economics student of St. Xavier's College, Kolkata. (L-R, clockwise) Ahana Gupta, Shreya Ghosh, Saheli Sahoo, Sutirtha Naha, Saptarshi Chowdhury and Rayesha Chatterjee. Students

Breaking the stereotype

Shark Tank breaks the stereotype of being a boring business show. Judges are seen frequently cracking jokes and using casual lingo. Ashneer Grover is a staple favourite for his entertaining comments and funny comebacks. He offers honest opinion that is helpful for the participants. Namita Thapar and Anupam Mittal are also popular. “Ashneer Grover is my favourite because he is brutally honest, has no drama and speaks just to the point. He knows what he wants,” said Saheli. “Namita Thapar is an extremely witty and elegant woman. The way she points out flaws and makes deals shows how good she is with business. She also sees how she can contribute to a business, and doesn't only focus on her gain,” added Shreya.

Diverse start-up ideas from participants

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The participants are another reason why people are hooked to the show. They are bound to leave you amused with the diverse ideas they put forward on the platform. “Jugadu Kamlesh is one of my favourites. Belonging to an agrarian family, he devised a pesticide-spraying bicycle that would relieve farmers from back ache and eye irritation while spraying pesticides,” Saheli said. “Aishwarya Biswas who founded Auli, a skincare line that blends Ayurveda and modern science, inspires me the most. I watch the show with great interest because I want to establish my start-up one day. Another favourite is the group of four entrepreneurs — Rajat Jain, Nitin Chandola, Sabit Rawat, and Saurabh Badola — who invented the device Spandan. It is an affordable and portable ECG monitor. This is a revolutionary invention although I do wish they would bargain for a lower stake with the sharks,” said Shreya. Students who just had a dream of a start-up now wish to fulfil it after watching the participants. “I finally got the motivation and confidence to start planning my dream of opening a chain of pop-culture-themed cafes across India. I've been dreaming of this since Class X,” said Ahana.

The flow of memes

The popularity of Shark Tank among Gen Z can be judged by the sheer number of entertaining memes being circulated on social media. The memes have gotten several to watch the show. The classic reactions and catchphrases of the judges have been a source of entertainment for students. “I have been following the memes, especially the ones on Ashneer Grover, about his famous quote on hypocrisy — doglapanti. I enjoy how the memes are so relevant to that domain and his reaction explains it,” said Sutirtha. “Are you kidding me? Of course, I am. Yeh sab doglapan hain! by Ashneer Grover to Yeh meri expertise nahi hain, so I am out! by Namita Thapar has become an important part of the meme culture in India,” said Saptarshi, who’s eagerly waiting for the next season.

telegraphindia.com - Here's why Shark Tank India is a hit with youngsters