Shark Tank Season 12 Episode 1 Recap

Shark Tank Season 12 Episode 1 Recap with

Ed Jaffe, demo and presentation coach

Shark Tank Season 12 Episode 1 Recap with demo and presentation coach and Demo Solutions Founder, Ed Jaffe, is part of our pop culture series and underscores the importance of the pitch. You get one shot to make a deal, or it tanks.

Fall means the leaves change colors (at least here in Chicago), it gets colder, and TV comes back (at least it used to). That means we have new Shark Tank, and new Shark Tank recaps! Now time for a recap of Shark Tank Season 12, Episode 1.

I’m going to attempt to have a Shark Tank recap up the same day an episode airs, so that means I’m changing the formatting a bit to make sure you can get all of the Shark Tank recap goodness as quickly as possible. These Shark Tank recaps are going to be very much structured like any demo coaching I do – I’m going to tell you what I thought went well and what didn’t go well. I’ll also share some additional thoughts that came up during the demos.

Now, let’s get into it. But first, a warning – this post contains spoilers. If you don’t want to know what happens, watch the episode, then come back here for my analysis.

The Sharks who appeared on this week’s Shark Tank: Daymond, Lori, Mr. Wonderful, Mark Cuban and guest shark Blake Mycoskie (founder of TOMS shoes).

The products that appeared on this week’s Shark Tank: The Touch Up Cup, Spark Charge, Garma Guard and Rumpl.

The product: The Touch Up Cup

The ask: 150k for 10%

How many offers: 2

The result: Deal with Blake (the guest shark) – $200K for 25%

How was it presented to the Sharks?

A father and son team compared their product, which is meant to store old paint, to a “closet full of old paint cans.” The demo itself wasn’t particularly clever (there was a prop of old paint cans as the visual), but the presenters were excellent.

What worked during the demo?

The intro was excellent. Saying “and I’m the proud dad of this CEO” [dad about his 15 year old son] was a nice way to kick things off.

Carson, the “kid CEO” (he’s 15!) is showing incredible energy poise for someone on national TV. He clearly has a script, but isn’t acting scripted. He also know his answers to the questions backwards and forwards. I know experienced presenters who are nowhere as good as him.

What didn’t work during the demo?

This could have been editing, but it wasn’t clear what the product actually does or the benefits. Their website is pretty much the same:

Screenshot from The Touch Up Cup website that reads "Does your paint Closet Look Like This? If so..."

Additional thoughts about the demo

This clearly proved that people make decisions emotionally and justify them rationally- Carson did a great job and got offers pretty quickly. But when they got into some of the numbers, and concerns about who would run the day-to-day made Damon revise his offer.

The product: Spark Charge

What is it: A battery to quickly charge electric cars.

The ask: $1M for 6%

How many offers:1

The result: Deal with Mark and Lori

How was it presented to the sharks?

The founders showed a brief video showing their product. This was one demo that was focused on the product itself, and was targeted at Mark Cuban.

What worked during the demo?

It’s a great product, and they knew how to negotiate when we got to that point

What didn’t work during the demo?

The founders, when discussing speed of charging, said it was “one mile every sixty seconds” but didn’t give any comparison or frame of reference.

The founders did not explain benefits – it was all features (they used the word features)

Additional thoughts about the demo?

This was a perfect example of what happens when you start at the end – by asking for $1M for 6% (crazy big ask), it immediately put the sharks in a defensive “prove it” mentality.

This one was clearly just about the product. The sharks made a snap decision about what they would do in the first 10 seconds.

The product: GarmaGuard

What is it: A spray that sort of like febreze, if you could spray febreze on yourself while wearing your clothes (which, I suppose you can, but definitely shouldn’t). And also if febreze killed germs.

The ask: 100k for 10%

How many offers: 0

How was it presented to the sharks?

The founders wore cleansuits, and a random guy (Joe) had “germs” (balls) thrown on his clothes (a velco vest). They then sprayed their product to “repel” the germs.

What worked during the demo?

The demo was a bit silly, but the Sharks certainly paid attention. Kevin described it as: “great high school theatre.”

What didn’t work during the demo?

They don’t know if it will prevent COVID, but “guaranteed” that they’ll know that it will in a year. Seems like an awfully big claim.

This wasn’t part of the demo, but the most impactful part of the presentation was when, during Q&A, Blake (the founder of TOMS) sprayed his shoes and then, after sniffing his shoes (there’s something I never thought I’d write), said they didn’t smell anymore. TOMS have a tendency to get stinky, so that was the best endorsement possible.

Additional thoughts about the demo

What was with the silly music during this one? Do better Mark Burnett Productions.

I was surprised Kevin or Daymond didn’t consider a licensing deal.

The product: Rumpl

What is it: A lightweight, thin blanket that seems to repel water, dirt, etc. It’s, as described by the founder, a “sleeping bag blanket”

The ask: $600K for 4%

How many offers: 2 with a bunch of negotiating that made it a bit hard to follow.

The result: Didn’t get a deal

How was it presented to the sharks?

Started with the question “how do you sleep at night? (Under a blanket).” Then there was a bit of an “infomercial” where he threw dirt on the blanket, and poured wine on it as well (Mr. Wonderful was not pleased)

What worked during the demo?

He knew his audience – pitched a loan and royalty to Mr. Wonderful

His ask was far too high, but he waited until the end to say how much money he wanted. Even though the Sharks were not pleased, their reaction was far less defensive than the earlier demo.

What didn’t work during the demo?

He’s raised $4.8M between his seed/A round, and has $3.5M in the bank. Which led to Cuban asking “why are you here?” The answer was terrible – “because I want sports licensing deal.” This answer was what killed his deal.

Additional thoughts about the demo

There are so many businesses out there who could really benefit from being on this show. This business was not one of them. Again, do better Mark Burnett Productions.

I was hoping that there would be a charity angle to this one – this seems like a product that could really benefit homeless populations. The “buy one, give one” model would have completely changed my perspective of this product.

Recap of the Shark Tank Season 12 Episode 1 Recap

We hope you found some of the lessons from Shark Tank, Season 12, Episode 1 useful. Share Shark Tank Season 12 Episode 1 Recap with your team and come back next week for a new analysis. And, of course, if you want to see how we can apply this framework to make your demos better, feel free to get in touch.

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