7 Money-Making Lessons from "Shark Tank"...

I only started watching it a bit ago and only reruns at that. But that was fine. It's amazing to see how much people are willing to spend and invest in something they truly think will work. Problem is they don't have a supremely objective group like the sharks to shoot down very basic business ideas.

I would say the advice and partnership with the Sharks is worth as much as the money they get if not more. One or two phone calls from one of them opens up a ton of doors.

When all 5 sharks say you have a bad idea, it's a good bet that it's probably worth spending more time and money trying to make work. Let it go!

Unfortunately it's a reality show, so we don't know how long the people actually get before they have to make a decision. Each entrepreneur spends between 60-90 minutes in front of the Sharks so it is highly edited for dramatic effect (Robert said that in an interview once).

I think the one take away for me would be to make sure you get someone objective to look at your idea, someone who won't just say it because they like you. Better to get your feelings hurt early than to spend money and time developing something that just won't go anywhere.