6 Tips for Pitch Perfection to VCs from Inside the "Shark Tank."

In the company of 6+ million weekly viewers, I find myself glued to ABC’sThe Shark Tank, with an avid thirst to learn from the successful pitch and deal techniques.

There are many pitches that cross my business path and I imagine taking a virtual seat in the Shark Tank and asking myself what would Mark Cuban (my personal favorite), or any other one of the “Sharks,” do with this opportunity?

Here’s a quick cheat-sheet of questions that you should be ready to answer clearly and in detail for a chance to make the perfect deal in any “shark tank" situation.

1. Are you making money?

The first and most important question. Do you have sales? What are your sales to date and what is your growth projection over the next year? Where is the growth coming from. Show how your business can scale and your plans to make this happen.

2. Is your product unique and can it beat out the competition?

What sets your business apart and how can you win out against key competitors and/or quick-to-market copycat products?

3. What are your production costs vs. retail pricing?

Be able to demonstrate that your production costs are efficient against your profit margins.

4. What will you do with the money?

Be able to communicate clearly how you will spend the funds. “To grow the business” doesn’t cut it. To fulfill a production order, build inventory, marketing, hiring sales people; whatever it is get specific.

5. How did you come to your valuation?

If you are coming in with a big valuation, go for it. Just be prepared with a detailed justification.

6. Is there any debt?

Explain your personal investment and if there are any additional investors who need to be paid back.