The founder and CEO of King Kong Digital Marketing Agency and author of Sell Like Crazy, Sabri Suby was able to turn a $50 investment into a net worth of $74 million. King Kong has appeared on the AFR's Fast Starters list twice and boasts over 200,000 customers in more than 130 countries.
The man knows what he's talking about when it comes to business, especially in the realm of digital marketing.
Sitting alongside Suby is Dr Catriona Wallace, an expert in the field of artificial intelligence; Davie Fogarty, founder of Davie Group and 10 consumer brands including the bestselling The Oodie; Jane Lu, the energetic and fiercely independent CEO of online fashion boutique Showpo; and the wildly popular and generous OG Shark from Shark Tank US, Robert Herjavec, who has invested over $23 million AUD across 14 seasons of the show.
"I've been a fan of the show for a while," Suby told 10 Play, "I really loved the format and I think business is a huge vehicle to drive a lot of change... no other platform really encompasses that like Shark Tank.
"You get people stepping in from all different walks of life, they have a few minutes to communicate what their pitch is," Suby continued, adding that the series really shows the crossover between business and the inspiring stories behind many entrepreneurs.
While the first few days were a surreal experience, now sitting on the side of the Tank with his fellow Sharks, Suby said that as soon as the entrepreneurs began walking into the room to pitch he was immediately engrossed.
"I operate in agency, all day long I'm looking at businesses, what their customer acquisition costs are, how they're getting customers, how many customers they're getting, so it's very easy for me to slip into that.
"I think that I’m in a very unique vantage point where I have hundreds of clients all over the world in thousands of different industries, and so when I look at a business I can break it down to brass tacks very quickly," he continued.
"The chances are I’ve looked at that industry before, that I know somebody’s numbers for that or I understand how to market that on Facebook, on Instagram, on Youtube, in the digital economy that we live in. I think that expertise just really, really helps me because that’s what I do all day long, every day.
"It’s something that’s not foreign to me and it’s a bit of an unfair advantage that I have, to be able to get insights into all of these industries with all the clients I operate in, and then quickly apply that to these people that are walking in the Tank."
As budding entrepreneurs walked into the Tank hoping to make a deal with one -- or several -- of the five Sharks, Suby was also keenly aware of what he was looking for.
"I'm looking for someone that has resilience, someone I can see has gone through many issues and has been able to overcome those obstacles... Ideas are great, but everything comes down to the execution," he said.
"I'm looking for somebody that's already showing they have the tenacity... they've hit their first few roadblocks and they've still been able to overcome those obstacles. Because there's going to be many, many more of those."
The people that really wowed Suby were those who showed their resourcefulness and didn't rely on excuses when it came to hard questions from the Sharks.
"When you run a business, you realise there’s going to be so many problems, so many fires you need to attend to, there’s going to be so many issues along the way and, if you don’t have that ability to solve problems and to navigate that chaos, it’s only inevitable that something’s going to hold you back," Suby added.
"It's a challenging situation when there's a person standing in front of you that has a very emotional pitch and you can see they want it really bad but, at the end of the day, this is our hard-earned money," he continued. "This isn't Monopoly money that the network has given us, this is money we have pushed, shoved and clawed to get and, ultimately, it's not charity. We want to put it into a vehicle that's going to generate more money than what we send out."
With those investments come a great deal of risk, as Suby explains there's a statistic that around 96 percent of all businesses fail over a 10-year period of time, which is why whenever he's hearing a pitch, it's not so much about the idea that's being presented but it all comes down to who is presenting it.
"A lot of times in business you need to pivot, you need to change things, you need to iterate as certain challenges come up along the way. That just takes a certain type of individual," he said. "I can sleep a lot more sound at night when I know that I’ve bet on the right individual, not just that hot business idea in that one particular time.
As for any entrepreneurs considering walking into the Tank in the near future, Suby had some words of advice.
"If you are someone that wants to step into the tank, you will see us grill people that don’t know their numbers. You will see us grill people that have absurd evaluations on their business and how they’re valuing that, and you’ll see us really question people about how they’re getting customers and how they plan to scale that and what the bottlenecks are," he said.
"And then you will know; if I go in there my pitch better be tight. I better be ready to blow the doors off this bad boy and I better know my numbers inside-out, back to front."
All new Shark Tank Australia premieres Tuesday, 29 August at 7.30 pm on 10 and 10 Play