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6 Shark Tank Ideas that Actually Worked
Plus some lessons you can apply to your own business.
802 Words | 3 min 47 Sec Read
Welcome to another issue of Passionate Income.
Today we’ll be discussing six Shark Tank winning companies that went on to become successful businesses.
Reading between the lines, these success stories should give you some clues as to the differentiators that separate winning businesses from losing ones.
Let’s dive in.
For someone who isn’t familiar with the business world, it would be easy to believe getting an investment from a Shark is a sign the company will be successful.
But similar to Angel or VC investing, an investment does not guarantee success.
Similar to how record labels hire 25 singers, knowing one superstar will make up for the other 24 failures, seed-stage investors take a similar approach.
And while the general public might not realize it, Shark Tank is nothing more than seed-stage investing that’s taped for a live audience to watch.
I mention this because, as someone who’s worked with multiple Shark Tank winners, I can confirm most of them fail.
So in today’s issue, we’ll break down a handful of winners that - against the odds - went on to become successful businesses.
#1 - Blueland
Blueland, founded by Syed Naqvi and Sarah Paiji, sells eco-friendly cleaning solutions with reusable bottles and dissolvable tablets (something that, at the time, was seen as revolutionary in the cleaning product space).
After winning a $270k investment from Shark Kevin O’Leary, Blueland experienced a significant boost in sales, expanding their products into the personal care industry while expanding their distribution into major retailers like Costco and Whole Foods.
#2 - Drop Stop
While we think they’re kind of cheesy, Drop Stop sells those gap filler things that prevent small items like phones, keys, or coins from falling between car seats and the center console.
While we may not be fans, Shark Lori Greiner was, claiming they’re effective design addresses a widespread issue faced by many drivers, offering a “large market potential.”
#3 - GrooveBook
As you may or may not know, the nostalgia industry is gigantic.
From Ancestory.com to those services that digitize out-of-date video formats, people spend serious money to preserve important memories. Which is what makes Groove Book so interesting.
GrooveBook was a mobile app that allowed users to print photos from their smartphones into a physical photo album. We emphasize “was” because they were eventually acquired by Shutterfly before being shut down.
While some Gen Z’ers may have never even seen a photo album, the service allows users to print actual photos from their digital photo collections. Which, as you can imagine, appeals to those who value physical copies as keepsakes (we’ll guess their target market is 40-50+).
Given how big the nostalgia market is, it should come as no surprise two Sharks (Mark Cuban and Kevin O'Leary) invested.
4 - Sleep Styler
This one’s for the ladies out there.
Sleep Style memory foam hair rollers allow for overnight, heat-free hair styling.
As you can imagine, the heat-free part minimizes hair damage, while the fact you can sleep with them (thanks in large part to them not being hot) is a huge time saver (relative to having to put rollers in first thing in the morning).
In terms of Shark participation, investor Lori Greiner was likely fascinated by the product's unique value proposition (given its appeal to a broad market looking for convenient beauty solutions).
5 - PhoneSoap
Ok, not gonna lie, this one is pretty cool. Especially for you germaphobes.
PhoneSoap is a device you put your phone in that sanitizes it while also charging it. The sanitation part happens thanks to the device’s internal UV light system, appealing to anyone concerned about germs.
Which, if you’ve ever seen the studies, are exponentially dirtier than toilet bowls!
And thanks to an investment from Shark Lori Reiner, the company went on to clear $13.5M in revenue in 2021.
6 - Bottle Breacher
This one is for gun lovers and war buffs.
Bottle Breacher offers unique bottle openers made from decommissioned .50 caliber bullets, bringing a distinctive, rugged aesthetic to what is normally an ugly piece of metal (a bottle opener).
Similar to the products above, Bottle Breacher is targeted towards a large market made up of military enthusiasts, veterans, collectors, and those seeking unique, masculine-themed gifts.
As for who wrote the check, Sharks Kevin O'Leary and Mark Cuban most likely invested based on the product’s appeal as a gift or collectible item, and its alignment with veteran and military causes.
💡 Takeaway: If you look at the businesses above, you’ll notice a few patterns: A huge market, a new/innovative solution, and one or more founders who did the work required to turn their idea into a profitable venture.
I'll leave you with this quote…
"I need more skin in the game.”
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