Jeff Foxworthy, once again turns Angel Investor on Shark Tank tonight. He’s not only an extremely funny comedian; he’s a savvy businessman who’s leveraged his personal brand across many product lines. He would be a great investor to have on your team.
Foxworthy understands where the real money is, and that’s indirect residual income that’s driven off brands he’s created with his unique trademarked slogans. Instead of only making money from doing TV and concerts, he’s now making money around the clock.
The indirect marketing not only increases his revenue stream, but also continues to strengthen his personal brand. He’s essentially getting paid to promote himself on Slot machines in Casino’s, store shelves with his Beef Jerky, his greeting cards that are available in Wal-Mart stores and through his barbeque sauces.
Entrepreneurs who pitch Foxworthy and Angel Investors like him should emphasis the indirect residual potential, if there is any. Essentially you need to speak to his style of doing business. That makes him see you as a smart savvy entrepreneur.
I wonder if the entrepreneurs are prepped by informing them of the Angel Investors they will be pitching. If there’s one thing that I Know is important, understanding who the Angel is will be critical to your success. If you can adjust your pitch, you’ll stand a greater chance of having your deal funded.
A great strategy for tonight’s entrepreneurs from Games2U would be to tie the gaming part to Foxworthy. He’s already licensed it for Casino games, so why not license it for some type of new patented game in the franchise? This would cause Foxworthy to increase his interest in the gaming concept.
Both Foxworthy and Cuban have been great additions to the show. Hopefully in the future, both of them will play greater roles into the Shark Tank production.
Make sure you watch Shark Tank tonight. So far, they are not announced for next season. I think the show is picking up steam and it would be a huge disappointment for it not to continue.
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