After hooking up entire India with the Make in India movement or Startup wave, Shark Tank India is very special for every business or startup enthusiast. It is a television show that gained popularity from its very first episode.  we are sure, for most of us whose favorite shows are confined to entertainment or reality, Shark Tank India has become a new favorite.

If you ever watched or read about Shark Tank India, these lines are for you.

Shark Tank features self-made startup enthusiasts along with multi-millionaire potential investors termed “Sharks”.  The business owners pitch their ideas, plans, and funding principles to the Investor panel. The sharks then analyze and convince of the potential of the candidate and their business ideas or market size to decide whether or not to Invest and mentor them. 

Still skeptical about the craze and the buzz of Shark Tank, make sure you watch Shark Tank Season 2 streaming on Sony Liv or YouTube. The inaugural season from Dec 2021 to Feb 2022 was super successful bringing many businesses into the limelight with progressive investments and funding.  While the last episode of the Shark Tank season was telecasted, there is still a buzz about it. Some won and some lost, but every participant learned something - including the viewers.

In this blog, we have put together the experiences and learnings of our founders who pitched Gear Head Motors to the sharks. We are sure, everything has got covered the most that help the Shark Tank India aspirants, applicants, or startup enthusiasts.

There We Begun - Applying for Shark Tank India Season 2

Like every other business enthusiast or startup entrepreneur, our founders also followed Shark Tank Season 1. Then they always had a dream of pitching Gear Head Motors, one of the desi electric vehicles manufacturing companies, on this biggest entrepreneurial television show.

Our founders took a step to apply for Shark Tank Season  2. The application process was very straightforward and hassle-free. We then went through the entire process the show involves, right from application to pitching our business to the Sharks. “We need to completely have an idea of WHOM we are actually applying to”. Said, Nikhil. He means the application is to be strong enough to convince the selection board and become the participant.

“It is Simple! show the board by way of your application that you have interesting stuff to be funded or mentored. In this process, do not hesitate to show off what your business is or its achievements. Because this is the first and final step to make them feel ‘wow, interesting!’”, Says Meher, Co-Founder. GHMEV’s first step of the Shark Tank journey then started after the business profile of manufacture and sales of electric bikes or say e-cycles got shortlisted for featuring. The founders have attended all the rounds of auditions and could pass them with an esteemed belief and strategic plans they already had. Everything until here is a surprise for us.

While our founders cleared up the beginning rounds shortlisted, another biggest challenging, yet interesting phase is preparing for the Shark Tank pitch. Preparing means, not faking ourselves, but finding a better way to present everything about electric vehicles, the manufacturing & the sales pitch, and our financial planning. Out of the experience of our founders, here are the areas where one should be confident.

Areas to be confident in -

A)   Knowing the Investors:

Remember, you are not going there to impress them or try to sell your product, we are just convincing them how our business is going to take its place. Your ultimate goal to reach Shark Tank is to get “funding” for your business. And this is a platform to pitch your business to potential investors.

So, know your Investors “WELL”  before you meet them.

Understand what they are looking for, their interests, and connections. Connect with them on social media, and check their business interests and investment statistics. An easy way to get it is, Watch the Shark Tank show.

“In fact, I had no idea about Investors before I applied for Shark Tank. But, within a few days of applying, my co-founder Meher got to know everything about the investors.”, said our founder Nikhil. There is and will be a lot of information online. Just go into it!

B)    Know Your Numbers - Put them right

Knowing the numbers of your business is a must to take it in the right direction. Starting from the investment, keep track of your numbers in each area of your business. “Keeping track of numbers helps you manage them better”, says Meher, Co-founder. If you are approaching any investor with a pitch and you are unsure of your financials, you will have a horrible scenario of convincing the investors.

Remember, if something doesn’t sound right, you need to have a good explanation for it. If you wanted to show any red flags of your company, you will have to justify them right. Determine the value of your company in the outcome of what your goal is.

• Keep a good plan and a ‘Good One!’
• Show a measurable and attainable goal to the investors, and one that is believable.
• Clearly demonstrate your ROIs. You will have a better chance of receiving the investment.
• Show them that you have planned your business in the account of anything calculated.

The Experience GHMEV had is a Lifetime

Our founders shared their experience pitching Gear Head Motors. They said that -

GHMEV finally had the opportunity to share its business vision on the popular TV show "Shark Tank India." It was an incredible experience that we cannot forget.

As we walked onto the set and faced the panel of investors, we had a mixture of nerves and excitement. We knew that this was a once-in-a-lifetime opportunity and we wanted to make the most of it.

Begun by introducing the founder and the co-founder, we then moved on to the business concept. We briefed about how our journey into electric vehicles has started and how we are now managing to manufacture e-bikes or electric tricycles and e-cycles. We explained how our products become a line of sustainable electric vehicles or e-cycles, were unique and how it was filling the needs of everyday commutants. We talked about the research and development process and the hard work that went into creating each prototype.

Next, we shared our business plans and financial projections.

We also explained the HOWs on

• Our planning to scale the company and
• The better utilization of investment from the sharks to achieve the company’s goals.

We could feel a bit nervous not to impress the sharks, but to clearly present the business picture. The sharks were intense and asked challenging questions about how our e-bikes are e-cycles are reaching out. They wanted to know if we had a competitive advantage, or any intellectual property, to analyze if we had the experience to run a successful company.

But our clear strategy and action plan were prepared from the very first day of business initiation. We did not find it much difficult to answer them as we are pretty sure of everything we went and should go through. With all the envisioned plans, we were able to answer their questions with confidence.

“I knew my business inside and out and I was able to convince the sharks that were a viable investment”, Says Mr. Nikhil Gunda, Founder.

In the end, we were able to secure an investment of 1 crore from Mr. Aman Gupta and Peyush Bansal.

“We left the set on the path of further progress feeling grateful and determined to turn the business vision into a reality. It was an unforgettable experience that I will always cherish”, said Meher, Co-Founder.

Here are the key learnings every participant, should keep on note.

Do not Recite - Just have Fun with everything.

Make your elevator pitch confidently. Ironically it’s the part you have been most fearful of. But, in no time you shoot your answers like a pro!

Although your pitch with investors goes longer up to an hour or more, the heavy edits confine them to 15 to 20 minutes on average. So, make your points up to the show’s episode slots.

After the Show

If you have been shortlisted to pitch your business for Sharks, Congratulations! you are on the right side of your goal. You are then officially tossed to speak with the potential investors. If you did secure the deal, the sharks will contact you for further contract signing and due diligence.

After this point, things may change. You will now have another brain with potential strategies and funding support to take your business miles along.

Coming to Gear Head Motors bagging the deal, the company is expecting the best scope for the business. With Peyush Bansal’s expertise and experience in manufacturing, distribution and technology,, and Aman’s branding strategies, we are expecting GHMEV to experience new exposure.

As our Shark Tank Season 2 episode aired, we got an immense response to our business. We are having many new market insights and opportunities to explore and expand. With all due dedication, market exposure, and scalability scope, we could soon make some more noise.

In the end, It's all an excellent opportunity to be featured in such a reputable show