Let’s face it, Michael Tseng’s Plate Topper company pitch had most of the essential elements when he appeared on the ABC reality show, Shark Tank. Despite being named one of the most controversial and longest pitch ever during the history of the show, Tseng’s impressive pre-show track record had three Sharks wanting to invest in the food storage container with Shark Lori Greiner finally landing the deal. That’s where we can begin and end this post, reviewing the elements of the company pitch. But we won’t, for the Plate Topper episode and its aftermath underscore another classic lesson for small businesses, which is that sometimes you have to get out of your own way to be successful.
In How to Get Out of Your Own Way on the Path to Success, Kevin Daum, an entrepreneur and best-selling author, offers five tips to prevent self-sabotage. Here are two highlights:
Be disciplined. If you truly want to win the big game, you can’t be sloppy. You are competing against people who train and learn and practice. You need to be in control of your own destiny and that means being in control of your daily activity. Have your priorities figured out. If you don’t know them, you’ll be prone to distraction. If they’re wrong, you’ll get off track. Be able to focus the right amount of thought, energy, and activity on the actions that will get you close to your goal. Learn to focus and dismiss distraction when it’s time to get to work.
Be gracious. Graciousness is not just about being nice. It’s also about being humble. True success and best served among friends and teammates who share in the glory and accomplishment. Start getting out of your own way by admitting when you’re lost, behind, or overwhelmed. Accept the greatest achievements come from the combined work and thought of many. Invite smart, energetic people into your journey and share the wealth and the credit along the way. Revel in their growth happiness and success, and they will celebrate yours.
In the end, Lori Greiner terminated the deal with Plate Topper. She stated in an interview with the blogging site Interviewly that Tseng was “Too stubborn to listen. Stubbornness always gets in the way!” For everything that went right or wrong for Tseng, Plate Topper remains on the market. For more information on the Plate Topper episode, check out this recap on ABC.com.
Is it an advantage or disadvantage to be too arrogant, confident, cagey, stubborn and greedy? Feel free to share your thoughts in the comments section of this post.
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