ABC's Shark Tank |
There’s a lot of great reality television on right now. Million Dollar Listing: Los Angeles is back
on the air, CT is back on The Challenge,
and Brody Jenner is just back on television period. As well, anyone who’s been
following Catfish knows that it’s
arguably the most suspenseful and gripping television show on right now (even
more so than Breaking Bad). Further,
in the coming months, we’ll see the return of longtime favorite reality
programs in Pawn Stars and Top Chef. However, the two best reality
shows on TV in 2013 are undisputedly Shark
Tank and Bar Rescue. What’s
interesting is that both shows are about the spirit of entrepreneurship in
America. Although the shows have very different formats, both programs analyze
the ins and outs of a small business considering both its potential and it's flaws.
Although the subject matter may sound dry, these shows are intense and dramatic,
but also frequently inspirational and heartwarming as well. However, despite
all their similarities, I think both shows have very different outlooks on the
importance of individuality in entrepreneurship.
Shark Tank
Shark Tank is
entering its fifth season this September. The show’s concept: each episode four
to five different aspiring entrepreneurs make business pitches to a panel of five
potential investors. The investors (aka Sharks), if they choose to, invest
their own money for an equity share in the business. The entrepreneurs make the
first offer to the sharks, and while the sharks may negotiate the equity share
in their favor, the entrepreneurs must receive the amount of money of their
original offer in order to close the deal. Shark Tank debuted in August of 2009
featuring a panel of wealthy millionaires and billionaires. Panel members
included internet mogul Robert Herjavec, software tycoon Kevin O’Leary,
real-estate entrepreneur Barbara Corcoran, FUBU founder Daymond John, and
infomercial guru Kevin Harrington.
The show was
interesting enough in its first two seasons, however it wasn’t until the third
season that Shark Tank reached its full potential. Enter Dallas Mavericks Owner
Mark Cuban and “QVC Queen” Lori Grenier. Grenier has been a nice addition to
the panel and her insights on the importance that a product have mass-appeal
have been noteworthy, if not a little banal. However, with Cuban, Shark Tank
has reached new heights. Cuban was brought in for Season 3 to replace Kevin
Harrington. While Harrington seemed business savvy enough, he lacked a certain
amount of charisma and enthusiasm. Cuban brought nothing but charisma and
enthusiasm to the panel, with his outspoken personality and bombastic attitude.
All of the Sharks pretty much have character roles on the panel. O’Leary is the
cold hearted and ruthless tycoon (think Scrooge or Mr. Burns), Herjavec and
Corcoran are the sensitive investors, while John and Cuban are the young and
hip ones. However, what Cuban brings to Shark Tank more than any other panel
member is an unflinching enthusiasm for entrepreneurship. In fact, Cuban’s
investments are often more influenced by the entrepreneurs themselves rather
than their product. Cuban loves hearing pitches from people who “eat, drink,
and sleep their business.” Those who work tirelessly and make sacrifices just
to see their vision succeed. One of Cuban’s best moments on the show came while
hearing a pitch for a store that allows customers to personalize their own
clothes. While discussing the entrepreneur’s business plan, the subject of
whether or not the entrepreneur should take a salary came up. The entrepreneur
claimed that while growing the business he could live off no less than $100k a
year, Cuban replied with “I want you to live off of Mac and Cheese.” Cuban’s other
greatest moment came when he became interested in an entrepreneur’s adjustable
belt business, after the entrepreneur had mentioned that the night he arrived
in LA to film Shark Tank he spent his time selling his adjustable belts door to
door. The look of admiration and joy on Cuban’s face after hearing that was
priceless. He understood this guy. You get the impression that Cuban has to be
his own boss, otherwise his drive and passion for life would falter.
The negotiations between the entrepreneurs and Sharks are
thrilling moments of drama. These people have often spent years developing their
businesses and an investment from a shark will often give them an opportunity
to see their business reach its full potential. The Sharks ask detailed
questions and try to poke holes in their business strategy as much as possible.
However, the entrepreneurs who remain articulate and composed are often the
ones who leave with an investment. This often proves a difficult taskk,
considering what’s at stake. These Sharks can makes these individuals’
financial dreams come true. However, what Sharks Tank illustrates is that it’s
not just about getting rich for the entrepreneurs. Of course they want to be
successful, but mostly they want a business they can both call their own and be proud of
Although occasionally
entrepreneurs are scolded by the Sharks for having a bad idea or business
strategy, most frequently by O’Leary, the general theme of the show is
optimistic. Shark Tank celebrates the important role small business plays in
our capitalistic society. Even in our dire economic times, the American Dream
still lives on in the ideas and aspirations of these entrepreneurs. Not
everyone leaves with an investment from the Sharks, but very few leave with
their spirit crushed. These are the
people who want nothing more than their own business to succeed and work
effortlessly to see this through, it’s an inspiring thing.
Bar Rescue
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Spike TV’s Bar Rescue is currently in the middle of its
third season. The show’s concept is not original and you can probably guess the
gist of it simply from its name. Basically the show’s star and host Jon Taffer
goes to failing bars and fixes them. He usually starts by reading Yelp reviews
of the bar and sending in undercover associates to do recon work. Taffer then
meets with the owner and the rest of staff. He points out it’s obvious problemss
with the staff and management, and usually looks into the bookkeeping to uncover
latent defects. Taffer brings in experts to train the staff and then comes up
with a new concept for the bar. Taffer then revamps the décor and menu of the
bar, and subsequently packs it for a relaunch.
If all goes to plan, Taffer will declare the bar rescued and leaves
town.
Bar Rescue would not work without Taffer. Taffer’s a long
time bar and night-club consultant, who has helped launch over 800 bars and
clubs worldwide. Taffer’s a physically intimidating presence. At six foot 3, Taffer towers over most of the
bar owners he helps and is built like a former NFL tight end. Further, he has
an intense personality and can shout with the best of them. However, what makes
Bar Rescue such great television is that underneath Taffer’s daunting demeanor
is an intelligent and compassionate man who prides himself on helping others. Taffer’s
at his happiest when he sees others succeed, whether it be observing the
owners’ capably manage their employees or a watching hard-working bar back prove himself a capable
bartender when given the opportunity. Taffer is passionate about the bar
business and when he sees someone else display that same passion; he takes it
upon himself to make them successful. Through the use of his experts coupled with
the guidance he himself provides, Taffer never leaves town without giving the
owners and employees the tools necessary to see their career dreams
succeed. During these moments, Bar Rescue proves itself the most heartwarming
show on TV since Friday Night Lights.
Bar Rescue sends Taffer to a struggling bar to fix a
problem. However, that problem usually lies with the owners themselves. Sometimes
it’s mismanagement of the employees or negligent upkeep of the bar. In these
instances, Taffer’s”fixing” of the bar usually isn’t met with much
opposition from the owners considering Taffer isn’t attacking their creative
ideas or business model for the bar. However, most episodes of Bar Resuce end
with Taffer changing the concept of the bar. Taffer’s philosophy while bar
consulting is always guided by a bar’s location and its’ demographics. Taffer makes himself keenly aware of the
history, average age, wealth, diversity, industries, and social habits of the
town the bar is located in and the people who reside there. One of Bar Rescue’s
most talked about episodes came when Taffer attempted to rescue Piratz Tavern,
a “Pirate Bar” located in Silver Spring, Maryland owned by Tracy Rebelo. By “Pirate
Bar,” I mean the bar had a pirate themed menu and the entire staff both dressed
and talked like swashbucklers. Taffer made his best efforts to point out to Rebelo
that Silver Spring has no pirate related history, so a pirate themed bar there
made no sense. Additionally, Taffer made note that since Silver Spring was a
popular commuter destination, that Piratz Tavern should instead ditch the pirate
theme and try to cater to the local business community. Bascially, Taffer
wanted to give the bar a corporate theme and focus on their lunch and happy hour
business. Taffer relaunched the bar with the new corporate theme, but as soon
as he left Rebelo quickly changed it back. It was her idea to have a pirate bar
and by Taffer telling her a pirate bar made no sense in Silver Spring, she
took it as Taffer informing her that her idea sucked. Really, she had every right
to feel that way. Why should she have to fold on her dream? After all a pirate bar is a pretty original concept and it
was something she was passionate about, it just made no financial sense. Rebelo
remains an outlier for Bar Rescue, with most owners eventually accepting Taffer’s
advice that their bar concept either makes no demographic sense or is just plain
bad.
The key difference between Bar Rescue and Shark Tank is that
Shark Tank generally celebrates an entreprenuer’s idea, while Bar Rescue fiercely
criticizes it. Of course, the entrepreneurs on Shark Tank typically run growing
businesses, while on Bar Rescue the entrepreneurs’ businesses’ are always
failing. Why should Taffer celebrate an owner’s idea if it doesn’t make money?
However, while Shark Tank leaves me feeling inspired, the end of each Bar Rescue
episode always feels a little bittersweet. These bar owners are now left with a
business concept that will be successful, but it wasn’t their concept. Yes they’ll
be able to pull themselves out of debt and make money, but shouldn’t they feel
a little defeated? After all, their idea was a failure. Of course, admitting
failure is a part of life and not all business ideas are created equal. Taffer
and Bar Rescue are perhaps doing a noble service, showing the shortcomings of an
entrepreneur’s ideas and inspirations. Individuality and creativity are the
driving forces of entrepreneurship, but as Bar Rescue shows, that’s what makes
it so risky.
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