I walked through the Shark Tank doors, and suddenly I was in front of Mark, Barbara, Mr. Wonderful, Lori, and Robert. What you don’t see on TV is that you have to stand in silence for a minute before you go into your pitch. I made eye contact with Barbara, who gestured that she liked my outfit. I took this as a good sign – Barbara was the Shark I was hoping to make a deal with!
I started my pitch, and my nerves disappeared. I had practiced so many times, it was second nature to me. I was on autopilot. I hit all my lines, took my time, and successfully put on the Strawberry Daisy socks, which to me was the most difficult part to do seamlessly. Once I finished my presentation, the Sharks started putting on the socks immediately. I was delighted to see Robert put on the Evil Eye socks, and Barbara trying on multiple pairs.
Next started the questions. This part is a blur. I only remember certain questions, and when I finally got to watch the episode, there were parts that I didn’t remember! But what I do remember was confidently answering every question, and the Sharks being extremely receptive and having a very positive response to the brand.
Then half way through filming, we were asked to stop due to a technical mic issue. Barbara’s mic was picking up outside sound, so production had to fix it. This took about 5 minutes, which to be honest I welcomed as it gave me a brief break from the questions and an opportunity to collect my thoughts. Someone from production came over to me and told me to hang tight, and I asked if this was common – he said not at all! During this time, Mr. Wonderful also gestured to me that part of the cuff on my Strawberry Daisy socks was messed up, so I was able to smooth it out on my ankle. Thanks Mr. Wonderful!
Once filming resumed, I probably spent another 20 minutes in the tank. I had gone in prepared to answer tons of hard questions, but to my surprise the Sharks asked me fairly straightforward questions and accepted my answers without challenge. You didn’t see this on TV, but I distinctly remember Lori asking me what my bestselling styles were, and me walking over to my display to point that out. I remember Mark clapping when he asked if I was on Amazon and I said no. I am sad that part didn’t make it onto the episode.
I think either Mark or Robert were the first ones out. Then Mr. Wonderful made me an offer for $150K for 12.5%, which coming from him was actually a good offer since he usually goes for royalties. But I was holding out for Barbara, so I was relieved when she made me an offer for $150K for 15%, with the contingency that I could keep the money and she would return her equity if she didn’t get me into Target. Here are two reasons why I didn’t love this offer: 1) I didn’t want her to give her equity back if she didn’t get me into Target and end the partnership. My goal was to have a long-term strategic partner. 2) I went into the tank knowing I wasn’t willing to give away more than 10% of the company. At this point, I also knew that Lori wasn’t likely to make an offer as she had said in previous episodes that she’s not a sock girl. So I countered to Barbara with $150K for 10%, and I was delighted when she accepted so quickly and said “of course!” It was truly a pinch-me moment. I felt ecstatic, relieved, and in disbelief all at the same time!
When I got home that day, I realized that I was truly in a flow state. I had never understood what the term meant until that day. Something took over my body when I was in the tank, and I became the most authentic and best version of myself. I don’t know if I will ever be in that kind of state again, but I am eternally grateful to my body and my mind for what I achieved that day.
Stay tuned for Part 4: Life After Shark Tank.