Entrepreneurs Becoming More Prepared and Knowledgeable
The entrepreneurial landscape has significantly evolved over the years, and Shark Tank Mexico has played a pivotal role in this transformation. Today, entrepreneurs are more prepared and familiar with their financials when presenting to investors.
The pandemic has been instrumental in shaping business evolution, as stated by investors. Alejandra Ríos, CEO of Ambrosía, has observed a remarkable shift in the types of businesses. This season features more tech companies, AI-driven ventures, and food consumption enterprises.
This tenth season showcases more prepared, diverse entrepreneurs, including many from the LGBT community,” she adds.
Marisa Lazo, founder and director of Pastelerías Marisa, echoes this sentiment. Entrepreneurs are now more prepared and understand their numbers better. “They know what we’ll ask, and they watch the show. Now, almost 100% of their questions are answered,” she explains.
New Sharks Joining the Tank
Shark Tank premieres its tenth edition on August 1st on Sony Channel, featuring new sharks like Ari Borovoy (OV7 member and BoBo Producciones co-founder), Miguel Layún (ex-footballer, investor, and entrepreneur), and Mauricio Schwartzmann (MS Holdings co-founder).
Viewers will witness projects utilizing AI to reduce restaurant waste, digital platforms for recycling, rare Rarámuri fashion, tattoos, and other ventures seeking growth and success within the tank.
Evaluating Business Potential
Entrepreneurs on Shark Tank have mere minutes to share their business model, profitability, growth, and investment proposal. Each investor has unique evaluation parameters, but they all emphasize the importance of the entrepreneur, business model, and scalability.
“Being an investor sometimes means making mistakes, but after reviewing numerous businesses and dedicating time to understanding what makes a successful business thrive or fail, certain patterns emerge: market size, entrepreneur preparedness, and competition intensity,” explains Karla Berman, angel investor and entrepreneur.
Alejandra Ríos acknowledges the risk but stresses that each investor has their investment thesis: “what we want to invest in, how we can assist, what a successful business looks like, which industry, and asking the necessary questions to ensure alignment,” she says.
Simón Cohen, Henco Global’s founder and CEO, highlights the importance of the entrepreneur. “At the end of the day, an investor’s name becomes associated with the people they invest in. We’ve worked hard to build our businesses, and we don’t want to be linked with someone who might cheat, act unethically, or have a misaligned business,” he says.
Marisa Lazo agrees, focusing on entrepreneurs who listen and welcome feedback. “We encountered one who ignored our advice, meeting only once every month or two without making progress,” she recalls.
Although sharks have regretted investments due to emotional decisions, they stand by their commitments once an investment is made within the tank.
Recommendations for Entrepreneurs
When asked what advice they’d give their past selves, knowing what they know now, Ari Borovoy would encourage entrepreneurs to follow their dreams and present themselves truthfully, as that infectious energy attracts sharks to any venture.
Marisa Lazo advises viewing failure not as an error but as a necessary step toward success. “We all make mistakes; there are ups and downs in the entrepreneurial journey, but it’s not failure—it’s just different ways of doing things,” she says.
Simón Cohen encourages entrepreneurs to dream big and fearlessly. “There’s nothing wrong with aspiring to have the largest company in Mexico, America, or the world. Dreaming big initiates a great process, fueled by a vision, desire, or story,” he concludes.
Key Questions and Answers
- What has changed in the entrepreneurial landscape? Entrepreneurs are more prepared, knowledgeable about their finances, and diverse, including those from the LGBT community.
- How do investors evaluate business potential? Investors consider the entrepreneur, business model, scalability, market size, and competition intensity.
- Who are the new sharks joining Shark Tank? Ari Borovoy, Miguel Layún, and Mauricio Schwartzmann are the new investors on Shark Tank.
- What advice do the sharks give to aspiring entrepreneurs? Follow your dreams, be truthful, view failure as a learning opportunity, and dare to dream big.
