Salespreneur before Shark Tank
Salespreneur is a company founded by Dave Greco that can turn anyone into an amazing salesman. The company does this by selling booklets that contain Dave’s “secret sauce.” Dave was selling since he was very young and his passion and skill is what led to him to start a company that would teach others this as well. Although David was still in a start-up stage before entering the tank with Salespreneur, he was able to close some deals with his company which helped him prove a concept, something that is definitely a huge advantage. Dave applied to be on Shark Tank hoping to continue growing his company with the help of a Shark and was invited for season three.
Salespreneur on Shark Tank
Dave entered the tank seeking $90,000 for 40% of his company. Dave began with his background of childhood selling and winning awards and how that led to his company. He moved into what the company actually sold which was a system that contained two books that turned people into great salesman. The first book, called Missile, taught people the sales skills needed find and get in front of a buyer and the second, called Roadmap, taught people how to frame a pitch. He also told the Sharks he wanted to take this material and convert it into a mobile app with the intent to scale the company.
Kevin wanted the numbers and business model of the company. Dave mentioned he had sold $40,000 in three months to five organizations, three of which were in the fortune three-hundred. Dave also mentioned he goes out and teaches ten to twenty sales representatives the “secret sauce” system and then the companies of these representatives by the booklets for them. Dave said that through these booklets, the corporations could expect a 40% increase in sales which baffled Kevin.
Robert was questioning the idea of creating a mobile app as he felt continuing to sell to the sales representatives was the best roadmap, but Dave mentioned felt the mobile app brought the best scalability as he “couldn’t be everywhere at once.” Daymond wanted to truly test Dave so he asked Dave to sell him his pen. Dave was selling the pen by focusing on the features, the impact it makes, and what it would do. However, Daymond was not impressed with Dave’s sales pitch and went out. Robert, unlike Daymond, was impressed with Dave’s sales ability. However, he was still concerned about the idea of a mobile app because Dave had not created it yet and because of that went out. Kevin was concerned with the risk as no one has ever proven the concept that Dave was trying to prove with the mobile app. Because of that, Kevin went out.
Mark, wanting to see where Dave’s head was at, asked him if he offered Dave exactly what he asked for, would he say yes. Dave responded with if there were any other offers, but Mark said he was looking for a yes or no and if Dave was really trying to sell something, he would take the deal. Dave, however, was interested in hearing what Barbara had to say so he put aside Cuban’s offer. Barbara was also impressed with Dave, but just like Robert, was concerned with the idea of a mobile app and went out. Dave turned his attention back to Cuban hoping to close a deal. Mark, however, went back to what his last question was which is if Dave was willing to say yes to his offer right there. He then told Dave he made the biggest mistake a lot of salespeople make by continuing to sell when he had a deal in front of him instead of taking the offer. Dave tried to defend his decision by saying hearing the room out is what the Shark Tank is about and that he wasn’t taking the offer for granted. Cuban, however, was not buying it and went out, but felt Dave learned a lesson and taught all of America how not to close a deal.
Salespreneur after Shark Tank
Although Dave was not able to close a deal, his experience with the Sharks did not end as he got an interview with Daymond after the show. Daymond did this because he started looking into Dave’s material after the show and was impressed. Dave told Daymond that although he did not get to close a deal, he was very happy that he got to show millions of people his company and gave some background about what one should expect when coming on the show such as having forty distracting cameras around you. Daymond mentioned that he did not invest after the show, but that Dave was indeed a great salesperson and that there would be a lot to see from him.
Does Salespreneur still exist?
Dave’s company still exists as he owns a website where people can get in contact with him to buy his system. However, Dave does not appear to be very active with the company as he has gotten many other jobs since airing on the show. His social media pages have not been updated in a while, although he does keep in contact with potential customers.
Although Dave’s decision not to take Mark’s deal in season three seemed very questionable at the time, as seasons progressed, it has been shown that almost everyone who comes on the show waits to hear from all the Sharks before closing a deal with the intent to gather as much information. It is heavily debatable on what the correct choice to make is especially in the heat of the moment. But as we have seen with recent entrepreneurs, many go in with a strategy on which Shark they want and what is the maximum equity they are will to give up so they are at least prepared if offers come to them. It is hard to say if Dave’s company would have taken off if Mark closed the deal, but Dave’s pitch has indeed shown future entrepreneurs that closing a deal for what you want may be better than leaving with no deal at all.