ITST: Why did the deal change after filming?
PW: I think a lot of it had to do with the other Sharks, who thought [my company]was too good to be true. They thought I was lying to them, and that had a lot to do with the deal Daymond offered me. I really did sell $1 million in the month of May alone, I am an eagle scout, and I was shot in the chest in the armed robbery. After filming, Daymond asked some CrossFitters and every CrossFitter said that this is the most legit product they’ve ever seen. Everything I had said in the tank was true, and I was honestly going on the show looking for a partner, rather than an easy way out.
ITST: What’s it like working with Daymond?
PW: It’s incredible. I don’t think he ever sleeps. We just signed a deal yesterday, and we would talk at 2 o’clock in the morning. Most people are sleeping and we’re up until 2-3am, wake up at 6am and go into the office. That’s how we are inherently. We don’t find it as work because we’re so passionate about what we do. When you feel so passionately and know that it delivers substantial results and changes lives, it feels like you’re a part of something bigger. It’s remarkable.
ITST: What kind of deal did you just sign?
PW: We signed a deal with one of Daymond’s business partners, Samsung. It was a very generous offer, and actually the only offer that Daymond has ever done of this magnitude.
ITST: Would you change anything about the way you pitched your business in the tank?
PW: The one thing that I would… actually, no. I wouldn’t change anything because the result that I got was the one that I truly wanted. I truly believe that you only live once, and you really need to find a way to live life without regrets. Having regrets is only going to waste life. Negative energy is wasted energy and if you don’t cut it out of life, you’ll slowly melt. I got the right investor, someone who works as hard as I do. After the show, Daymond said “this is going to be a heck of a ride so hold on.”
ITST: What advice do you have for Shark Tank hopefuls?
PW: Make sure you know your numbers, that’s a given. It’s the one thing I saw repeated over and over again
Be confident—don’t be cocky—but be confident in what you have to offer. If you can walk into the tank and hold your own ground and stand up for yourself, it’ll pay off in spades.
The last piece is go with your gut. Everything is filmed live and there’s no retakes. The one thing I didn’t want to do is step out and call somebody. I thought about putting my dad on call to talk to, but you see from other businesses in the tank that [when you step out to call someone]the Sharks will change their offers and everything you just talked about on the phone becomes irrelevant.
What did you think about Patrick’s time in the Shark Tank? What questions would you ask past Shark Tank entrepreneurs if given the chance? Let us know, Shark Tank fans!