The 5 rules of the Shark Tank

One interesting thing about ABC's hit show Shark Tank is that there are no business plans or power points or excel spreadsheets. 

But yet, The Sharks are willing to offer $20 thousand, $30 thousand, even a Half Million for a piece of a good idea.

If you haven't seen the show, it's basically about hopeful entrepreneurs — who are pitching their ideas to Trillionaires — to get them to invest in their idea. 

All they bring into the pitch is: the problem, the idea, how they've been solving it, and what they want to do moving forward. And usually a prototype or drawing of the product.

The Sharks know within 5 minutes if they are in or out.

In each case of Success, the following 5 things seem to be present:

1. The entrepreneurs are solving a problem that matters.

2. They explain the problem and solution in 90 seconds.

3. They've "started shipping" already — on some level.

4. They know their numbers. 

5. They are interesting.

These aren't the only things, but they certainly seem to be a constant.

So, it seems simple enough:

Beginning now — start solving a unique problem, with a simple solution that's easy to explain; know your costs and goals; and give it an interesting story. 

There(!) your first company is born. Or your next promotion is on the way.

No matter what your situation is, you can apply these rules to attract "investors" into your ideas.