Youtube Exercise » English Grammar Homework

A Bidding War Breaks Out Over StepNpull – Shark Tank

ABC

1.4M views 5 years ago

Warm-up Questions

What do you think a “bidding war” means in business?
When people compete to buy a company or invest in it, what usually happens to the deal terms?
If you were on Shark Tank, what would you want from an investor besides money?

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A Bidding War Breaks Out Over StepNpull – Shark Tank

A new offer and disagreement about the product (00:00 – 01:20)

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1. What is the main marketing plan mentioned for the product?

A crowdfunding launch
An infomercial
A social media influencer campaign
A door-to-door sales team

2. What are the terms of the offer that includes a royalty?

$300,000 for 12% equity with no royalty
$300,000 for 6% equity plus 50 cents per unit forever
$500,000 for 8% equity plus a fixed royalty forever
$300,000 for 5% equity plus a royalty that drops after reaching $500,000

3. What is one Shark’s main objection to the infomercial idea?

It isn’t a consumer product
The product can’t be manufactured fast enough
The product is too expensive to film
Retailers will not accept it

A Bidding War Breaks Out Over StepNpull – Shark Tank

Competing offers and negotiation pressure (01:20 – 02:50)

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1. What new offer is made at around 1:41?

$300,000 for 7%
$500,000 for 5%
$300,000 for 8%
$300,000 for 6%

2. What does the entrepreneur ask Daymond for?

To give him more time to decide
To lower the equity to 6%
To raise the money to $500,000
To add a royalty

3. What does Kevin say he will keep doing during the negotiation?

Keep waiting quietly
Keep squeezing (pushing for better terms)
Keep increasing his equity percentage
Keep advertising the product himself

A Bidding War Breaks Out Over StepNpull – Shark Tank

Decision, reactions, and closing reflection (02:50 – 03:52)

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1. Which offer does the entrepreneur choose in the end?

No deal
Daymond’s $300,000 for 8%
Kevin’s $300,000 for 6%
Lori’s $300,000 for 5% plus royalties

2. How does one Shark react to the decision?

They say it was a really bad mistake, but wish him the best
They say they will increase their offer again
They say the product will never sell to businesses
They refuse to congratulate him

3. In the closing comments, what does the entrepreneur say the opportunity helps do?

Helps create TV advertisements
Helps businesses open back up and keep people safe
Helps customers buy more luxury items
Helps investors make quick profits

A Bidding War Breaks Out Over StepNpull – Shark Tank

Transcript will load here…

1. In this clip, why do the investors keep lowering the percentage they want?

Because the product price is dropping
Because they forgot the original numbers
Because the entrepreneur refuses to take any investment
Because they are competing with each other to win the deal

2. What is the main disagreement about the product’s market?

Whether it is mainly for businesses or can become a consumer product
Whether it should be sold only online or only in stores
Whether it should be free for customers
Whether it should be manufactured overseas

3. What negotiation strategy is shown by the phrase “stick to your guns”?

Refuse to listen to offers
Ask for a loan instead of equity
Change your opinion as fast as possible
Stay firm and don’t give up your position too easily

Discussion Questions

Discuss the ideas from this video

A Bidding War Breaks Out Over StepNpull – Shark Tank

Do you think this product sounds more like a consumer product or a commercial product? Why?
Is it fair for an investor to ask for a royalty as well as equity? When might that be reasonable?
If you were the entrepreneur, would you choose a lower equity percentage even if you disliked the investor’s style? Explain.
What negotiation tactics did you notice in this clip (pressure, interruption, anchoring, competing offers)? Which ones are effective or unethical?