Daniel Lubetzky first joined Shark Tank as a guest investor in season 11. Diving into the Tank again last year and for season 13 with regular panelists Barbara Corcoran, Mark Cuban, Lori Greiner, Daymond John, Robert Herjavec, and Kevin “Mr. Wonderful” O’Leary, the KIND founder has gotten to know his fellow Sharks since 2019. He recently joined forces with Corcoran on a deal and described what it’s like having the real estate mogul as a business partner.
Daniel Lubetzky gives props to his fellow Sharks
Lubetzky joined the panel as a guest Shark for the third season in a row in season 13. With scores of businesses having to change course due to the coronavirus (COVID-19) crisis, the branding mogul noted how entrepreneurs have stepped up to the plate in today’s current climate.
“This season of Shark Tank was filmed a year and a half into COVID,” Lubetzky wrote in an email to Showbiz Cheat Sheet. “In my opinion, more than in any other season, you see the spirit of grit and tenacity in these entrepreneurs as business owners have had to pivot to adjust to our new reality.”
Filming alongside the famous Sharks for several episodes, Lubetzky credited the panelists for their business acumen and sees each Shark Tank star as having their own exclusive skill set.
“Each of the Sharks is incredibly smart and quick on their feet,” he shared. “It’s amazing to watch them in action in the Tank. They each approach their investments differently and bring a unique perspective to the table. I always leave with new lessons to share with entrepreneurs I work with and to implement in my own life.”
Barbara Corcoran and Daniel Lubetzky invested in Sparketh
On the Oct. 23 episode of Shark Tank, Lubetzky teamed up with Corcoran on a deal for Sparketh, an online subscription-based art learning service for kids. The Sharks offered co-founders Dwayne Walker and Tim Samuel $100K for a 20% equity stake in their educational company. Lubetzky immediately connected with Sparketh’s objective and the two entrepreneurs who launched the business.
“Fostering creativity in our youth is incredibly important,” he remarked. “I was immediately drawn not just to Sparketh’s mission but to Tim and Dwayne as entrepreneurs. In the Tank they showed immense passion, grit, and perseverance.”
Lubetzky considers having Corcoran as a partner on the investment a great perk and commended her ability to spot promising entrepreneurs.
“I admire Barbara a ton,” he raved to Showbiz Cheat Sheet. “In the Tank, she’s decisive, excellent at deciphering what entrepreneurs care about and places a lot of emphasis on entrepreneur’s values when deciding with whom to partner. We’ve already gotten to work mentoring Tim and Dwayne and it’s been a pleasure to collaborate with her and her whole team.”
Daniel Lubetzky’s words of wisdom for ‘Shark Tank’ contestants
Now with three seasons to his name and having mentored numerous entrepreneurs, Lubetzky offered some tips for business owners venturing on to the Shark Tank carpet.
“Three pieces of advice I like to give entrepreneurs appearing on Shark Tank include:
- Be authentic and transparent in the Tank. Know both your strengths AND your weaknesses and be upfront about them.
- If you don’t need the money, you may not need to dilute yourself. Practice a resourceful mentality, not one of scarcity or wastefulness, and
- If you do decide to bring in the money, it’s about bringing in smart money from partners who can help you grow strategically.”
Shark Tank airs on Friday nights on ABC at 8 p.m. ET.