The Qeepsake Shark Tank Journey: A Look Behind the Scenes11
Have you ever watched Shark Tank and dreamed of pitching your own business idea to the sharks? Well, that dream became a reality for Qeepsake, a popular journaling app that helps parents document their children’s milestones. In this blog post, we’ll take a look behind the scenes of Qeepsake’s unforgettable Shark Tank journey. From preparing for their audition to receiving valuable advice from seasoned judges, discover how this team made it onto the show and what happened next! So sit back, grab some popcorn (or your favorite snack), and get ready for an exciting ride with Qeepsake on Shark Tank!
What is the Qeepsake Shark Tank?
Shark Tank is a popular reality TV show where entrepreneurs pitch their business ideas to a panel of high-profile investors, known as the “sharks.” These sharks are seasoned businessmen and women who have years of experience in investing and growing successful businesses. The goal for any entrepreneur appearing on Shark Tank is to secure an investment deal from one or more of the sharks.
Qeepsake is an app that offers parents an easy way to document their children’s milestones with a simple question-and-answer format. The idea behind Qeepsake came when its founder, Jeff McNeil, became frustrated with traditional baby journals. He felt they were time-consuming and difficult to keep up with. So he created Qeepsake – a digital journaling platform that makes it easy for busy parents to capture special moments in real-time.
After launching his company, McNeil applied to appear on Shark Tank hoping to secure funding that would help grow his business even more. And luckily enough for him – he was selected! In this episode we’ll take you through what happened next..
The Judges: Who are they and what do they know about business?
The judges on Shark Tank are a group of successful entrepreneurs and investors who have extensive experience in the business world. They include Barbara Corcoran, Mark Cuban, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O’Leary.
Barbara Corcoran is a real estate mogul who has built an empire worth more than $100 million. She is known for her savvy investments in New York City’s real estate market and her ability to identify promising startups.
Mark Cuban is a billionaire entrepreneur who made his fortune through various businesses including tech startups and sports teams. He brings years of experience as an investor and entrepreneur to the show.
Lori Greiner is known as the “Queen of QVC” thanks to her successful products that have sold millions on home shopping channels. Her expertise lies in retail sales and marketing.
Robert Herjavec made his fortune by selling his cybersecurity company for over $500 million. As an investor on Shark Tank, he provides valuable insight into technology companies seeking funding.
Daymond John is best known as the founder of fashion brand FUBU which he grew from humble beginnings into a multi-million dollar company. His expertise lies in branding and marketing strategies.
Kevin O’Leary (aka Mr. Wonderful) made his fortune through software development before turning to investing full-time. He offers tough love advice but also has a wealth of knowledge about finance and negotiations.
These judges bring different areas of expertise to Shark Tank making them well-equipped to evaluate potential investment opportunities presented by entrepreneurs like Qeepsake during their journey on the show!
The Round 1 Application Process
The Round 1 Application Process for the Qeepsake Shark Tank update journey was a rigorous one. The first step involved submitting an online application, which required information about the business, its goals and objectives, financials and future projections.
Once the application was submitted, there was a waiting period before hearing back from the producers. If shortlisted, further questions were asked about the business model and marketing strategies.
One of the most challenging parts of this round was creating a video pitch that showcases your product or service in under two minutes. This is where creativity plays an important role as you need to grab their attention by making it engaging yet informative.
It’s essential to ensure that everything in your application speaks effectively to your brand story while also being concise enough not to bore them with details they don’t need at this stage.
Succeeding through Round 1 means demonstrating how your business stands out from competitors within limited time constraints while still telling its unique story convincingly.
What was the most difficult part of the application process?
The application process for Shark Tank is known to be rigorous and challenging. For Qeepsake, the most difficult part of the process was choosing which information to include in the application.
We had so much we wanted to share about our company, but we knew we needed to be concise and focused on key points that would capture the judges’ attention. It was a balancing act between providing enough detail without overwhelming them with too much information.
Another challenge was ensuring that all materials were submitted correctly and on time. The Shark Tank team provided specific guidelines for submitting our application, including videos, images, financials, and more. We had to make sure everything was formatted correctly and submitted before the deadline.
Additionally, it was tough not knowing what questions or concerns the judges would have during their review of our application. We tried our best to anticipate any potential issues they might raise and address them proactively in our submission materials.
While challenging at times, going through this process ultimately helped us refine our pitch even further and prepare us for presenting Qeepsake on a national stage in front of millions of viewers.
How did you prepare for your Shark Tank audition?
Preparing for a Shark Tank audition is no easy feat. We knew we had to bring our A-game, so we started by researching previous episodes and taking notes on what worked well for other entrepreneurs.
Next, we practiced our pitch countless times until it became second nature. We also made sure to come up with answers to potential questions the Sharks might ask us about our business.
To get comfortable being in front of the camera, we recorded ourselves pitching and watched the footage back to see where we could improve. This helped us iron out any nervous ticks or stumbling over words that might have hindered our presentation.
We also sought advice from mentors who had experience with securing funding for their own businesses. They gave us invaluable feedback on how to refine our pitch and present ourselves confidently during the audition.
We made sure every detail was taken care of – from having samples of our product ready to go, to dressing professionally and arriving early at the studio location. By going through this process thoroughly, we felt confident walking into that room knowing that whatever happened next, we were prepared for it!
What were your advantages and disadvantages when it came to your business?
When it came to Qeepsake’s business, we had both advantages and disadvantages. One of the biggest advantages was that our product had a unique value proposition – we offered an easy way for parents to capture their child’s memories through text message-based journaling.
Another advantage was that our team was made up of experienced entrepreneurs who knew how to pitch well and communicate the benefits of our product effectively. We also had some traction with early customers and positive reviews, which helped build credibility.
However, one disadvantage we faced was that there were already established players in the market offering similar products. This meant we needed to differentiate ourselves and show why Qeepsake was better or different than what else was available.
Another challenge was that while our customer base loved using Qeepsake, they often struggled with paying for it on a monthly basis as a subscription service. This meant we needed to figure out ways to make payment easier or offer more flexible pricing options.
Navigating these challenges required us to stay focused on our mission and continually iterate based on feedback from customers and investors alike.
What was the best advice you received from someone else before your Shark Tank audition?
The Qeepsake Shark Tank update journey was a rollercoaster of emotions and challenges. From preparing for the audition to facing tough questions from the judges, it was an experience that tested our determination and resilience.
But with careful planning, hard work, and a little bit of luck, we managed to secure a deal with one of the most successful Sharks on the show. And since then, our business has grown in leaps and bounds.
If there’s one thing we learned from this experience is that anything is possible if you have faith in yourself and your product. And as long as you’re willing to put in the effort required to succeed, there’s no challenge too big or obstacle too daunting.
So if you’re thinking about taking your business onto Shark Tank or any other platform for that matter – remember that success is not guaranteed but it can be achieved through perseverance and dedication. Keep pushing forward despite setbacks or failures because ultimately they will lead you closer to achieving your goals.
And finally – what was the best advice we received before our Shark Tank audition? It came down to two things: Be authentic & Know your numbers! These two pieces of advice proved invaluable during our pitch on national television.