How is Shark Tank India changing the startup market?
If you were to ask any Indian middle-class family's preferred investment, it would probably lie somewhere between fixed deposits and mutual funds. Terms like equity, bull market, and gross margin are far from being a topic of discussion inside a normal Indian living room. But over the past few months, this has changed. And it's all down to a single TV program - The Shark Tank. Undoubtedly, Shark Tank India has encouraged a start-up boom in India. People who have never previously shown an interest in talking about business at family gatherings or other social occasions are now ready to engage and share their opinions. This is the enthusiasm that the Indian people have grown accustomed to because of Shark Tank.
Many office-going employees are now pursuing their passions and thinking of building careers in business. Not only Gen Z but even Millennials, are prepared to quit their employment and pursue an idea that has been percolating in their heads for years. The show gave a clear representation of what business is all about and simplified the explanation of business language for non-experts. The program has additionally promoted the notion and advantages of business funding. The popular TV show has caused quite a craze among the public, which is reinforced by the fast pace of invention.
Indians have a reputation for being cautious and risk-averse investors. They won't take a chance at uncertain outcomes. The older generations avoid volatile markets like stocks, bonds, and cryptocurrencies in favour of time-tested fixed deposits and the all-time safe investment- Gold. Shark Tank seems to have played a vital role in inspiring the conservative Indian middle class in changing this thinking. Everyone is now talking about investments, the stock market, and Equities, from a vegetable vendor who never considered company financing to a grocery store owner who never imagined increasing his business. Additionally, office workers, street vendors, and even housewives appear to have been encouraged to think about starting their own businesses.
Most significantly, kids of all ages appear to be enthused about entrepreneurship as a realistic career option. This shift in perspective from wanting to become a doctor, lawyer, or engineer to thinking about starting your own business is incredibly important and has the ability to alter the face of the working class in India. The students have gained a lot of practical-life business knowledge from the show. Those currently pursuing careers in Engineering, Commerce, and Statistics and looking forward to creating a start-up shortly have picked up pointers and tips from the show. Being clear and precise with the business plan is the first thing that the show teaches. Also, One should be extremely clear about the problem the business is attempting to solve and have a deep understanding of the market.
Ground Breaking Pitches
We must admit that Shark Tank India has grown into much more than just a TV show. By unlocking the potential to encourage widespread entrepreneurship, it promotes the Indian startup ecosystem. The first step toward entrepreneurship is sparked by changing the conservative mindset to a progressive one. Startups should take use of Shark Tank as a platform to exhibit their products and services globally. Especially with special pitches like Jugaddu Kamlesh, Skippi Ice pops and Patil Kaki, once you find an emotional chord to connect with people it becomes easy to gain attraction. When you are trying to sell a product you are also selling a story, in the end, it is important to stand out.