Biem Founder Suggests Starting Percentage Low Before Negotiations Go Up On Shark Tank| By |Shawn Rice


Doug Foreman of Biem recently appeared on Shark Tank to show a twist on your typical sprayer. The device turns any stick of butter into a spray, which can be used to butter toast, popcorn, muffin pans, grilled cheese and more.

According to their website, Biem uses no chemical or artificial propellants, just heat and air, and it also only melts the amount of butter you need. Butter is about to get much butter. On the show, Foreman accepted Lori’s offer.

Foreman spoke to us to share his experience on Shark Tank.

On preparing to present his product on Shark Tank:

“I tried to do everything I could to prepare and I felt like as long as I was able to do my initial pitch perfectly, the rest would be just questions and answers. You only get one chance to do your pitch, so I practiced it probably 500 times before I walked into the tank. After that, it was a barrage of questions coming at you at one time and it becomes question management. How do you answer one shark while not making the other ones mad? Stay calm!”

On having a strategy when dealing with the sharks:

“I knew from watching the show over the years, as well as the 6 shows per night I studied before I went to tape, that the percentage you offer for the dollar amount is probably going to be negotiated up. So, if you go in asking for exactly where you want your percentage to be, you had better start lower.

On the sharks:

“Hmmmm, I like them all really. I felt while in the tank that they all respected my background and they treated me with respect in the negotiations.”

On the increase of site visits since Shark Tank:

“It has been crazy busy! We have had hundreds of thousands of website visits and a lot of requests from the media to try the biem and to learn more about it. The exposure and results from Shark Tank has helped us get into the spotlight, and people are more eager than ever to try the product for themselves.”

On any tips or lessons that you can share:

“Know your numbers, know your marketing strategy, don’t get sideways when negotiating, respect the sharks, and have fun!”

via Technology & Innovation Articles on Business 2 Community


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s