By Krysten Brenlla
If you’ve ever seen an episode of Shark Tank, you know that Daymond John is never easy to crack. With a reputation as a tough business strategist, entrepreneurs from all over the world compete for a chance to impress him in the tank.
So, when four entrepreneurs – Heather Cain, founder of Style to Design; Dillon Abend, founder of 3rd-i App; Barbara Parker, founder of BF Empowerment Center; and Luca Dahlhausen, founder of Realfinity – had the unique opportunity to pitch their businesses directly to a panel of judges moderated by John (now a Miami local, by the way) during Mindspace Miami’s Big Pitch Night on Tuesday the entrepreneurs and the audience gained valuable insights.
Refresh Miami had the opportunity to witness the entrepreneurs try to impress him and the judging panel – Maggie Vo from Fuel Venture Capital, Justis Mendez of OneSixOne Ventures, and Eric Aaronson of The Mark Cuban Companies) with three-minute pitches, followed by a five-minute Q&A session with the judges.
After an hour of pitches, questions, and deliberations, the judges ultimately picked Style to Design [pictured below with the judges] to win six months of free office space at Mindspace Miami Downtown, thanks to Cain’s savvy, life-sized pitch deck and unique presentation showcasing her businesses’ staging and design services.
Throughout the evening, John also shared valuable tips with both the entrepreneurs and the audience, offering insights on how to grow their business ventures, refine their ideas, make smart investments, and run a successful company.
Here’s what we learned from the Shark as he offered a glimpse into his business mindset:
- Deals are not often done the first time that somebody sees you.
After a question from the audience was asked to John regarding his choice to work out of Mindspace Downtown Miami, he shared that the best deals are not made the first time that you meet someone, but rather over multiple conversations.
“Don’t watch too much Shark Tank when it comes to that,” John said. “Deals are done when you get comfortable talking to them – it’s about being with community.”
The takeaway: Surrounding yourself with an engaged community that shares your interests, while building relationships based on trust over time, is essential for making successful deals.
- Diversity is key for innovation in any business organization.
When asked if Miami’s diverse culture provides a competitive edge for startups to scale globally, John had one quick answer – 100 percent.
“When you have people that think different and look different in your organization, you get innovation,” John said. “If you have a lot of great people in your organization from diverse backgrounds and cultures, they may see something that you don’t see. They want to know that they’re creating change, and they’re part of a story.”
The takeaway: Embracing diversity in your team fuels and opens new perspectives that can drive growth and success for your business and life.
- Don’t invest in ideas or just because you ‘want to make money.’ Invest in people.
“I always invest in the person,” John said. “None of us here need to deal with anybody to make money. If I want to make money, or lose money, I send it over to the market, and it comes back. So if I am going to deal with somebody, or hire somebody, or invest in somebody, I want to know that I like them – simple as that.”
The takeaway: Investing in people you trust and genuinely like is just as important as the business opportunity itself. Building strong, positive relationships is key to successful investments and partnerships – and ultimately, provides more bang for your buck.
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The Pitchers:
From top to bottom: Luca Dahlhausen (Realfinity), Barbara Parker (BF Empowerment Center), Dillon Abend (3rd-i App), Heather Cain (Style to Design). All photos by Krysten Brenlla
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Krysten Brenlla is the Media Relations Specialist for Jackson Health System, where she manages media relations for the health system’s cardiology, neurosurgery, rehabilitation, and Miami Transplant Institute service lines. Prior to her role at Jackson, Krysten worked at Florida International University as an Account Manager for FIU’s Office of Engagement. In 2022, Krysten obtained her master’s degree in Global Strategic Communication from FIU.
