The business reality show helped the founder of a unique sneaker brand grasp a better perspective of where he needs to be in life.
Last Updated: 12.49 PM, Jan 08, 2023
Time and again, Shark Tank India has proved to be a life changing opportunity for up and coming entrepreneurs in the country. The debut season of the show has been a game changer for many, and it seems that season two is no different, and in more ways than one as well.
The latest episode of the season featured Ganesh Balakrishnan, an entrepreneur from Bangalore who came on the show to showcase his sneaker brand, Flatheads, which he described as “ T-shirts for your feet”. He goes on to list out how the shoes are made from natural, breathable material like banana fibre, linen and bamboo fibre, with lightweight soles, all made with sustainable material in India. He asked the sharks for Rs 75 lakhs for a 3% stake in his company
After the round of discussions, the sharks realised that the situation of the business is desperate, as Ganesh describes it ‘We’re at the end of our runway’. He also reveals that he is investing his own money to keep the business afloat. On the question of what he will do with the investment from the sharks, he said that he plans to use the investment to send inventory to the international market.
Although the sharks appreciated his honesty, they struggled to come to terms with the entrepreneur’s business plan. Aman Gupta asked Ganesh if he ever felt like he wanted to stop and do something else. Ganesh revealed that he does have self doubt, especially when the business is on the verge of shutdown. He also adds that he will look for a job as a plan B if his dream fails to launch. Aman says it's not a bad thing, and the boAt CMO tells his own story of restarting his dream.
After hearing about Ganesh’s family, and the fact that he has a ten year old daughter, Anupam reminds Ganesh of his responsibility towards his daughter. He advices Ganesh to go back to basics and makes the entrepreneur an open offer for a job working for Anupam, but declares himself out of the deal..
When Peyush Bansal and Vineeta Singh offer 75 akhs for 33.3% equity, Ganesh takes a moment to think about it.
The pitcher declares that he needs to evaluate his priorities in his life and needs to come back and try again in a couple of years. Becoming emotional, he apologises and thanks the sharks for giving him the clarity he needed to take the big decision to opt out of the business. Vineeta tears up after hearing his words.
Ganesh’s honesty and candidness are appreciated by Anupam, who says that shark tank is not just about funding but also about gaining perspective. Aman tells Ganesh that he has guts, and despite being down, he is not out just yet.
New episodes of Shark Tank India premiere on SonyLIV and Sony TV, every Monday to Friday at 9 PM.