4 Lessons from Shark Tank When Pitching Your Book

Photo by Unsplash

Completing a manuscript is a feat. You’ve created work you’re proud of and believe will impact people’s lives — even if it’s just a good time. 

Now, sell it. 

It’s the part of book writing authors might dread the most, but with a little perspective shift, it can become a less emotional process and one you can use to your advantage. On ABC’s Shark Tank, you see four to five pitches per episode, and as a straight observer, it’s clear that there are repeatable patterns and stories on the show. While it may be hard to step back from your own pitching strategy, here are four lessons from Shark Tank to improve your selling mindset.

1. It’s Not Personal, It’s Just Not a Good Fit

Submitting your work to an agent or editor feels a little like tearing your heart out and offering it up for sacrifice. You’ve stayed up at night wrecked over the perfect ending for chapter five and have scoured the internet looking for the right people to send your work too.

And then they pass on it. 

Just like the founders and inventors who finally make it in-front of the Sharks, it can feel devastating when you’ve come so far to only go so far. However, Sharks, like agents and editors may pass on an opportunity because it’s:

• Too similar to another project they’re working on

• Not their expertise

• Not something they feel connected enough to it to fight for it the way you’d want them to

• The wrong time for them

• Too early for you to be pitching your work

The rejections on Shark Tank are straightforward. Contestants will know exactly why their work isn’t right for each Shark, and then they can move on.

Are Sharks ever wrong? Of course! Contestants have come back to prove them wrong, more than once. But every investor is working with the information they have at the moment. It’s not personal. It’s business.

2. When You’re Selling to Everyone, You’re Selling to No One

Ugh. Marketing. Probably one of a writer’s least favorite words. 

I don’t know who would want to read this. People who like powerful stories? Who have good taste?

You’re not taught how to market your book in workshops or classes because you’re focusing more on the craft of your work. So when it comes time to pitch, you’re probably pulling your hair, figuring out who would buy your book off of the shelf.

The first thing you need to remember is: Your book is not for everyone, nor should it be.

Business owners on Shark Tank get hard eye rolls when they say their product is for “everyone who breathes”.

False. 

Naming your target audience doesn’t mean other people won’t pick up your book, but it means you’re directing all of your efforts to the folks who will pick up your book. An agent or editor needs that info, so they properly pitch to publishers.

Sharks will often ask contestants who their competitors are, and very rarely is there no competition. Knowing your market means you know what other work is out there, how you’re different from them, and how to inspire people to pay for your work. The contestants that do the best are the ones who know the pain points of the current market and what other people aren’t providing. 

By staying vague about who your ideal reader is, you’ll miss out on the opportunity to reach the people who need your book the most.

3. People Want to Work with People They Can Root For

Editors and agents have to sell your work to publishers. It’ll be something they’re focused on and talking about for a while, so there has to be a compelling story behind your work to keep them engaged.

As with the show, Sharks often ask people what inspired them to start their business or what their story is. The Sharks need to know that the drive for their work won’t burn out quickly. It’s the contestants who were relentless in accomplishing their vision who stand out above the rest.

With a book, agents and editors need to know you’re committed to not only improving your work, but talking about it endlessly with anyone who will listen. If your passion goes beyond your love of writing, if there’s a deep internal drive pushing you to get your story to as many people as possible, that’s something that’ll make the right agent or editor raise their hand.

4. What’s in It for Them?

In the midst of trying to pitch yourself, don’t forget that there has to be a benefit to the person on the other side of the table. It’s easy to focus on yourself and what you hope to get, but every pitch is a negotiation.

The contestants who do the worst on Shark Tank are the ones who ask for deals like a $1,000,000 investment for 2% of the company when they’ve only made $400,000. Likewise, agents and editors want authors who are also committed to getting their work seen and bought. Writers who believe that someone else should do all the work, while they’d reap all of the rewards are likely to fail. 

If you’re published in literary magazines, have a large platform or are a regular conference speaker, you’ll likely catch the attention of agents and editors even more because you’re showing up in the world. Writers who slink away and expect other people to sell their books or care about their work as much as they do, won’t go very far. 

That’s also why Sharks say no thank you to some investments: Contestants have too many other commitments that would leave their investors worried about the state of the business. It’s too risky to be all in with someone whose expectations are unrealistic about what’s required to succeed.

At the End of the Day, Feedback is Just More Information

There’s an immediate instinct to defend your work when someone passes on or critiques your manuscript. However, feedback is simply more information to tailor your next steps to. You might discover you weren’t clear enough in your query letter or proposal. Maybe, your book is a dream for an agent, but your manuscript isn’t a fit at the moment.

Not a judgment — just more information. As with Shark Tank, the contestants who walk away with their heads held high regardless of what the Sharks say are the ones who you know will use that experience constructively.

Ultimately, it’s up to you to use what resonates and leave the rest. Own it and keep moving.