Personality adds taste in the Tank
THE secret behind a good business pitch is not necessarily the idea, according to Boost Juice founder Janine Allis.
The entrepreneur has returned to our screens for the third season of Channel 10’s Shark Tank and says she takes more of an interest in the people behind the ideas before deciding where she’s going to invest her money.
“It’s really about people because a great person can make an average idea amazing, but a person that hasn’t got what it takes cannot make a great idea good,” Allis said.
“There was a couple of those on this year’s season where there was a fantastic product but the person just had no idea. At the end of the day we’re investors, we’re not there to do the business; they’re the ones who are going to be running it so if we can’t work with them then there’s no point.”
Of course there still needs to be a good idea to work with and there’s a simple formula to finding one of those.
The ideas can sometimes be the most entertaining aspect of the show, which allows entrepreneurs to pitch their ideas to a panel of potential investors including Allis, internet pioneer Steve Baxter, international businessman Andrew Banks, Red Balloon founder Naomi Simson and Greencross founder Dr Glen Richards.
Shark Tank airs on Tuesday at 8.30pm (AEST) on Ten and WIN Network.