“It's not just about starting a business...the show allows teachers to completely transform the way students tackle problems and create solutions” - Ryan Owens

If you're not a fan of the hit tv show, "Shark Tank", you and I probably shouldn't be friends. All kidding aside, if you've never seen the show, I highly recommend you checkout an episode. The show provides a unique and engaging platform for teaching entrepreneurship to students. Through the show, students can learn about the process of starting and growing a business, as well as the various challenges and opportunities that entrepreneurs face. It's not just about starting a business though. In my opinion, the show allows us teachers to completely transform the way students approach tackle problems and create solutions.

One of the obvious benefits of using "Shark Tank" as a lesson on entrepreneurship is that it provides students with a real-world and relevant learning experience for entrepreneurial thinking. The show features a diverse range of entrepreneurs, from those just starting out to those with years of experience, and highlights the different strategies and approaches they take to successfully solve a problem and create a profitable business. This helps students to see that entrepreneurship is not just about having a great idea, but also about having the right mindset, skills, and resources to turn that idea into a reality.

I didn't emphasize this part of the show at first, but over the years I've found that "Shark Tank" is excellent tool for cultivating better communication and collaboration skills. When I'm using an episode in my own classroom, I now intentionally point out the importance of effective communication and negotiation skills. On the show, entrepreneurs are given the opportunity to pitch their ideas to a panel of successful investors, known as "sharks", hence the name of the show. This process gives students a firsthand look at how to effectively communicate the value of their ideas and negotiate the best possible deal for their business. Not only are these skills are vital for any entrepreneur, but communicating effectively is an invaluable skill that will benefit our students for a lifetime.

Depending on the grade level(s) you teach, Shark Tank provides opportunities for expanding students' vocabulary and for introducing other concepts such as venture capitalism and investing. The entire process, from the initial pitch to the negotiation of terms and conditions, allows students to understand the various factors that investors consider when evaluating a business for investing in. They can also learn about the different types of funding available and the pros and cons of each.

One of my favorite topics during a Shark Tank lesson is the importance of market research, product development, and customer validation. Entrepreneurs on the show must be able to demonstrate that their ideas have a real market and potential for growth. They need to have a clear understanding of their target customers and how to reach them. This process is essential, not only when developing a business idea, but it's an integral step in all of problem-solving. Some of my favorite and most memorable discussions with my class occur when an idea on the show is rejected due to lack of market research and validation.

One of the most valuable lessons that teachers can pull from an episode of "Shark Tank" is the importance of resilience, persistence, and adaptability. Entrepreneurs need grit, a term that Angela Duckworth coined in her New York Times Best Seller, Grit: The Power of Passion and Perseverance. Entrepreneurship is not a straightforward path and is full of obstacles. The show demonstrates that many entrepreneurs face numerous rejections before they find success. Participants on "Shark Tank" have to be able to adapt to changing circumstances and the ability to pivot when necessary. Isn't this exactly what the instructional and learning process should like in our own classrooms?

So, if you've never considered incorporating entrepreneurial thinking in your classroom, I'd highly giving it a try. With shows like "Shark Tank", and the resources I've created for The Edpreneur, cultivating an entrepreneurial mindset in our classrooms has never been simpler. These resources are valuable tools for educators looking to engage students in the subject of entrepreneurship: