Jared Joyce, Inventor: Mad Genius or Shark Bait

Fans and followers of the Shark  Tank have surely seen Jared Joyce’s video from Kirk’s post yesterday.  It is unclear- probably intentionally so- exactly what Jared will be pitching to the sharks. This is somewhat unusual for the shark tank since most entrepreneurs have one specific product to pitch. Kirk guessed he’d be pitching his “5 Minute Furniture,” and I would agree based on the still photo at the beginning of the product video on Jared Joyce dot Com.

Like I said, I think he will probably be pitching his 5 minute furniture, furniture that can be assembled with no tools. But he could pitch some other products as well. He could also successfully pitch his process for taking inventions to market. Jared is an inventor and marketer. He takes the “find a need and fill it” concept from idea to prototype to market, and he has done it for more than one product with some success.

If he pitches the furniture-which appears in the video below this paragraph, his pitch will go one way. He will need to talk about target markets, patents, manufacturing costs, distribution, debt, and all the other things the sharks ask about. When an entrepreneur jumps into the shark tank with one product, their pitch has to reflect the need for the product. There is no shortage of inexpensive, easy to assemble furniture on the market. 5 Minute Furniture is another entry into that space. What makes it unique is their are no tools needed. It is probably less expensive to manufacture too, since there is no hardware, which probably makes for higher margins- a point that won’t go unnoticed by the sharks. If Jared were a “one trick pony” with this product, he’d probably stand less of a chance.

The interesting thing about Mr. Joyce is he is not a one trick pony, he has a whole stable.  There are at least thirty inventions displayed on his website. If you look at the totality of his existing business, he could be pitching his process of bringing inventions to market on a broader scale. In essence, Mr. Joyce is a shark too; he might just be a spiny dog fish compared to the show’s Great White Sharks (and maybe a Hammerhead), but he does the same thing. Jared Joyce brings products to market- he just doesn’t have the multi-billion dollar clout and immediate branding legitimacy  of the sharks.

If he does indeed pitch his process, it will be a more complicated pitch. He will have to get into his failures in more detail and balance them off against his successes. He will also need to compete with the “why do we need you” attitude that could pop up. The Shark Tank exists to fund start ups. Funding a business that perpetually funds start ups could be a double edged sword- it could dilute the shark tank submissions or it could be a good breeding ground for the sharks.

The other curious item is the pre-show hype, both from Jared and ABC. Jared has a bunch of videos on his site- the five minute furniture video features a quick, shark tank pitch looking photo, but there is no mention of what he’s pitching anywhere on his site. The ABC Press Release makes a brief reference to a “revolutionary clothing item,” Cheer Bands perhaps? Jared himself is hyping a LIVESTREAMING SHARK TANK PARTY from 6-10PM.

So what is the deal going to be? Will there even BE a deal?

Like Kirk, I am going predict yes. Jared will get a deal. Even if he doesn’t, he is already successful and he is firing up the hype machine FULL THROTTLE.

Good luck, Jared.

As an added bonus, there will be an update on Daisy Cakes!