Chicago's Open Casting Call - photo by @fuzzycover

We’re happy to provide this “insider” information to all the Shark Tank fans/viewers out there, and if you have more questions, please comment at the bottom of this post!

Question: How many applicants do you anticipate there might be for Season 4? (We heard over there were around 10K applicants for Season 3). Do you have a rough idea of how many have already applied?
Answer: This season we anticipate just as many Entrepreneurs to apply and even surpass it. Especially now with our 22 episode pick up.

Q: With a 22 episode season just announced, does that change anything about this round of casting and your team’s role in finding the right mix of applicants?
A: This doesn’t change anything except for the fact that we need MORE entrepreneurs with great companies, businesses and products. It’s a great benefit for everyone applying.

Link: How to Apply for Shark Tank Season 4

Q: Are there any “cut offs” as far as date for applicants to send in their info via e-mail? Or is there a fixed number of applicants that you’ll accept?
A: With our recent 22 order episode pick up, we will be casting much longer and through the summer. Probably into mid-August and then we will be wrapping things up.

Q: What do you look for in a good application? Is there an obvious (or even unexpected) piece that adds credibility or boosts an applicant’s chances of moving forward?
A: This is a great but tough question. The great thing about our show is we take Entrepreneurs across the board – from prototypes to companies that are making millions of dollars a year – so just make sure to answer each question thoroughly and honestly

Q: Can you give us a peak into the process for an applicant? We’ve heard reports that are kind of all over the board for the last round as far as what applicants can expect.
A: I can’t talk about this – sorry.

Author’s Note: To me this means that the casting process can be very different for each applicant, which we probably should have known already. Thanks to our insider for letting us know that this info is off-limits

Q: Do you have any “favorite” applicants from the current or past seasons that you’ve helped find?
A: I can tell you that I have helped to find tons of companies/entrepreneurs that have appeared on the show…but a few that stand out are Daisy Cakes, Kisstixx, Blondie’s Cookies, CoverLugg etc….

Q: If we didn’t cover it in other questions, or there any other items on your “do” and “don’t” list for applicants?
A: Keep your emails succinct.

Q: We’re very excited about the open casting calls that were recently announced. Do you anticipate that any additional cities might get an open casting call this summer?
A: YES! Now that we have the 22 episode pick up – we anticipate 1 more open call. Details soon.

Thanks again to our insider for answering these “burning questions” about casting for Season 4. As soon as we know more about the location of the yet-to-be-announced open casting call, we’ll let you know!

For addition information it’s a good idea to follow these people on Twitter:

Follow @Minz15
Follow @courtneyp_
Follow @SharkTankABC

CHICAGO OPEN CASTING CALL – FRIDAY MAY 11, 2012
Location: Embassy Suites – Chicago Lakefront
511 North Columbus Dr.
Chicago, IL 60611
Time: 10:00 AM to 5:00 PM

A great source of information on a past casting call experience comes from the good folks at Lollacup, who recently appeared on Shark Tank and made one of my favorite deals of the season with several Sharks. The founders, Mark and Hanna, attended an open casting call in Los Angeles and the link above conveys their experience. They were in line at 7am and were able to pitch around 2pm.

Since I’m a native Chicagoan and have some experience navigating to early morning meetings downtown, here are a few basic logistical tips that you may find helpful:

1. Get in line way early. Shark Tank is more popular than ever before, so the Lollacup founders’ experience probably won’t be yours. Think “early” and then go earlier.
2. Fill out your application early and bring it with you. Click here to download the application to open casting calls. Make sure to bring it in a folder or binder so it doesn’t get blown away by a wind gust, or carried away by pigeons sent by Kevin O’Leary.
3. Book a room downtown. Since the casting call is at the Embassy Suites, we’ve heard that many entrepreneurs are booking rooms on Thursday and/or Friday night. Not a bad idea to eliminate any travel the morning of the event just so car trouble doesn’t keep you from getting a good place in line. Also, a word to the wise — don’t let your check-out time screw up your opportunity to pitch!
4. Find a parking garage with an “early bird” rate. Parking in downtown Chicago is a pain in the neck and the costs of just a few hours in a garage can be over $30. However, many parking venues offer deals to drivers that park in the early morning hours. Performing a quick Chicago parking garage search, we found a lot within a block of the Embassy Suites that offers $12 parking if you’re in between 5am-9am and out by 7pm.
5. Bring a chair. You may be in line all day, there’s no reason to make your feet hate you. Make friends with line-mates and I’m sure you can work something out to have your stuff watched while you pitch to the casting team.
6. Be weather-aware. Right now the forecast on Friday in Chicago is a perfect 76 degrees and breezy (10-20 mph gusts). However, Chicago weather can turn on a dime. Make sure to check the forecast again Thursday night! Sometimes the wind can really whip around the buildings near the Embassy Suites, as it’s right near Lake Michigan. Especially if you line up in the wee hours, I’d recommend bringing a warm jacket.

If you have any questions about the open casting call, please ask. We’re here to help! Best of luck to you all, hope to see you in the tank soon.

Attention to all entrepreneurs and Shark Tank fans that are clamoring to appear on the show — details of the two open casting calls have just been announced! Details are below:

CHICAGO OPEN CASTING CALL – FRIDAY MAY 11, 2012
Location: Embassy Suites – Chicago Lakefront
511 North Columbus Dr.
Chicago, IL 60611
Time: 10:00 AM to 5:00 PM

LOS ANGELES OPEN CASTING CALL – THURSDAY MAY 24, 2012
Location: Beverly Garland’s Holiday Inn
4222 Vineland Ave.
North Hollywood, CA 91602
Time: 12:00 PM to 7:00 PM

Best advice would be to make your travel plans early! Last season over 10,000 applications to appear on the show were received, and the competition for Season 4 is going to be stiff. Over the next several weeks we will be rolling out a variety of content especially dedicated to those who are applying (or planning to apply) to be on Shark Tank.

As always if you have questions about casting or the show, please add a comment or reach us via e-mail or follow @SharkTankABC on Twitter. Best of luck to you all.

Find Out How to Apply at ABC.com or Attend Open Casting Calls in Los Angeles
On Friday, June 17 or in Dallas on Saturday, June 25

The producers of the ABC reality series “Shark Tank” are on a nationwide search to discover the next successful – and possibly wealthy – entrepreneurs, inventors, businesspersons, dreamers, promoters, creators and innovators. In each episode, budding entrepreneurs are given the unprecedented chance to make their business dreams come true.

Whether you just have an idea, are a start up or already operating successfully and looking to expand, if you feel you have a lucrative business/idea and could use financial backing, then “Shark Tank” is just the show for you. Casting is looking for aspiring entrepreneurs who can pitch their breakthrough business concepts, products, properties and services to moguls in hopes of landing investment funds. If selected, five self-made, brilliant but tough investors (the Sharks) could be willing to part with their own hard-earned cash to give you the funding you need to jumpstart your idea. But the Sharks aren’t just out to invest; they too have a goal — to own a piece of the venture.

Your business idea should be top-notch and something the Sharks will really want to sink their teeth into. It might even spark a bidding war between them. Who knows? You could be the fortunate entrepreneur who gets the Sharks to reveal their true level of interest and to bid up the price of your investment!

For application information, visit: www.abc.go.com/shows/shark-tank/casting.

You can also apply by attending one of our Open Calls. This is your opportunity to meet face to face with the Shark Tank casting teams. Come prepared to wow and dazzle us with your product/business/idea and your completed application which you can download at abc.com/shows/shark-tank. Be advised: security may check your bag and you are responsible for your own parking. We do not validate.

LOS ANGELES OPEN CALL: FRIDAY, JUNE 17TH
BEVERLY GARLAND’S HOLIDAY INN
4222 Vineland Ave.
North Hollywood, CA 91602
1:00pm to 8:00pm

DALLAS OPEN CALL: SATURDAY, JUNE 25TH
WFAA – VICTORY PARK
3030 Olive St.
Dallas, TX 75201
11:00am to 6:00pm

There is an open casting call today at Beverly Garland’s Holiday Inn in North Hollywood, from noon until 8PM. If you have a business that needs funding in order to take it to the next level, then the Sharks are looking for you.

If you are not able to make it today you can still contract the producers at SharkTankCasting@yahoo.com.

If you have any questions feel free to call 310-244-3745. Good luck and remember to tell them InTheSharkTank.com sent you.

The producers of Shark Tank are looking for entrepreneurs who need the Sharks help to make their business dreams come true.
For several weeks, producers have been asking entrepreneurs to send in their applications for Shark Tank, by emailing SharkTankCasting@yahoo.com but now the producers want to see you in person. The first open casting call has been announced for September 17th at the Beverly Garland’s Holiday Inn in North Hollywood. The casting call will take place from 12:00 PM until 8:00 PM.
If you are in the area this is a great opportunity to wow the producers with your business or product.

Last season the Producers held casting calls in Chicago, New York, Orlando and LA, there is no word yet if this will be the only casting call this season or not.
If you have any questions feel free to call 310-244-3745. Good luck and remember to tell them InTheSharkTank.com sent you.

Here are just a few of the essential business lessons that I noted after watching just one episode:

1. Know what your business is worth. The most important thing any contestant on the show can do is to have a clear idea of what their business and market is worth. Valuing your company wrong (either over or under estimating) is mistake most of the early contestants seem to be making – and mirrors a mistake many entrepreneurs make in real life.
2. Make an offer to establish your position. There are different points of view on how best to negotiate, but the format of the show that I find myself liking is that contestants must state as soon as they walk in the door what offer they are making, how much they want and what equity they will give. If only real business worked this smoothly.
3. Focus on what’s in it for the other guy. When you walk into a situation to ask for money, it’s obvious that the person you are asking can help you. But what is in it for them? The better the answer to this question, the more likely a contestant on the show is to get the funding he or she is seeking.
4. Decide what you are willing to accept. There is a difference between what you ask for and what you are willing to take. Knowing what you really want and what you can live with is crucial to any negotiation and is proving to be an important lesson that the contestants on the show are forgetting with surprising regularity.
5. Prove the value instead of describing it. Similar to a point I made about infomercials in an earlier blog post, the power of a product is often best unlocked through a live demonstration. Most of the contestants were asked to illustrate what their product could do, and the value of it was directly related to whether or not they could do it.
6. Create a bidding war. The last important point I took away from the show is that if you have something really valuable, it helps to create a bidding war. Too many times, businesses go for the first offer they can get, which can be a major limiting mistake.

Keep these tips in mind if you ever decided to swim with the sharks.