{"id":11048,"date":"2017-03-11T13:32:57","date_gmt":"2017-03-11T21:32:57","guid":{"rendered":"http:\/\/pocketwisdominsights.com\/pwicolab\/?p=11048"},"modified":"2019-02-18T20:59:05","modified_gmt":"2019-02-19T04:59:05","slug":"why-i-turned-down-a-100000-deal-on-shark-tank","status":"publish","type":"post","link":"https:\/\/pocketwisdominsights.com\/pwicolab\/co-lab\/pwi-co-lab-staff\/why-i-turned-down-a-100000-deal-on-shark-tank\/","title":{"rendered":"Why I Turned Down a $100,000 Deal on Shark Tank"},"content":{"rendered":"

Opening Insights<\/h2>\n

Pocket Wisdom Insights (PWI) invites you to explore the following Co-Lab Blog<\/strong>.<\/em>
\n This blog features parts of\u00a0influential and insightful article written outside of the PWI\u00a0Co-Lab<\/strong><\/em>
\nby Lisa Binderow<\/strong> on February 6, 2017, \u00a0published by Entrepreneur.com<\/a>.<\/em>
\n We have republished this content in respect of the author\u2019s vision, message and research.<\/em><\/p>\n

Informational Insights<\/h2>\n

One entrepreneur reveals how a moment of clarity led her to walk away from a life-changing offer.<\/em><\/p>\n

Two weeks ago, I went from being Lisa Binderow, yoga teacher turned entrepreneur and mom-to-be, to contestant and survivor of ABC\u2019s\u00a0Shark Tank<\/em><\/a>. Barbara Corcoran made me an offer for 40 percent\u00a0off my business. However, after negotiating back and forth, I politely declined and walked away from the deal.<\/p>\n

Some might say that I\u2019m crazy to pass on what could have been an amazing opportunity to work with an incredible mentor, not to mention\u00a0someone who I deeply respect and admire. But, under those hot lights and with the cameras rolling, I had a moment of clarity — I didn’t start nicepipes<\/a> to make a million dollars. I didn’t start a business<\/a> looking to reach some inflated valuation only to sell to a VC and have a pingpong table in a fancy lofted office. I started nicepipes because I had an idea for a product that solved a problem. I thought others in the workout community might have this problem too and I wanted to offer them a solution. So, I designed nicepipes — performance fabric leg and arm warmers, made from the same amazing material as yoga pants.\u00a0They are sweat wicking, offer mild compression to enhance performance, four-way stretch for a personalized fit, do not slip down\u00a0and they are UV 50+ SPF. Unlike the old acrylic knit warmers of the past, you can wear your pipes before, during and after any workout.<\/p>\n

In the weeks leading up to the taping, I thought long and hard about who I wanted to make a deal with to seal my future. Lori Greiner and Barbara Corcoran<\/a> were definitely at the top of my list. For me, it was all about finding a mentor. I don’t have a business background, and a Shark represented a guiding light for an entrepreneur who often feels she has fallen overboard.<\/p>\n

However on that day, at the Sony Lot in the\u00a0Shark Tank<\/em><\/a>\u00a0studio, my reaction to Corcoran\u2019s offer was one I did not expect.\u00a0I realized that if I said \u201cyes\u201d to this deal my life would take a turn that I could never come back from. Yes, it would bring me amazing opportunities. Yes, nicepipes would benefit from Barbara\u2019s knowledge and contacts. The force that is \u201cthe Tank\u201d would carry me and nicepipes into a new realm of success. But what would happen to my life?<\/p>\n

[..]<\/p><\/blockquote>\n

My experience made me realize that there is a meaningful challenge, for all of us, to look a little deeper than usual, past our Google docs and analytics, and ask, \u201cWhat makes you feel proud and valuable?\u201d For you, it could be dollars in the bank, and that\u2019s great. For me, my success is\u00a0not\u00a0being fearless but daring to stare fear in the face and say, \u201cSorry, no deal.\u201d<\/p>\n

Source: Why I Turned Down a $100,000 Deal on Shark Tank<\/a><\/em><\/p><\/blockquote>\n

Possibilities for Consideration<\/h2>\n

Take a moment and examine\u2026<\/h3>\n