"We did get lucky, but lots of people get lucky and don't take advantage of the luck. Once we got on Shark Tank, I was like, 'I'm training now. I'm Shaun White, training for the Olympics.' No stone will be unturned."
"Ahead of the pitch, Siminoff said he recreated the Shark Tank set as best he could in his backyard, with his neighbors standing in for the sharks and lobbing him questions. He also watched and rewatched older episodes of Shark Tank, taking notes and preparing hundreds of potential questions for himself."
Jamie Siminoff applied to Shark Tank for his company DoorBot, a video-enabled doorbell startup, competing against over 30,000 applicants. While acknowledging luck in being selected and aired, Siminoff emphasized that capitalizing on opportunities requires deliberate action. He prepared extensively by recreating the Shark Tank set in his backyard with neighbors as practice sharks, rewatching successful past pitches, and preparing responses to hundreds of potential questions. During his actual pitch, he sought $700,000 for 10% equity but received only one offer from Kevin O'Leary: a $700,000 loan with royalty terms and 5% stake, which Siminoff rejected. This preparation exemplified his approach to seizing pivotal moments that contributed to Ring's eventual billion-dollar valuation.
Read at Fortune
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