Hosted by the Filipino American Chamber of Commerce of Orange County (FACCOC), the Secrets to Success: Shark Tank Competition aims to bring a fun and creative platform for people to promote their businesses. This competition isn’t exactly like the hit show in its execution, but very similar in spirit.
This competition is purely about the “pitch”. Judges will evaluate the contestant on the delivery and effectiveness of their 60-second pitch, in it’s ability to succinctly deliver the message and move the target audience (i.e. the judges) to action. Judges will then vote on who they viewed delivered the best pitch. Awards for first, second, and third place will be given. An audience vote may be taken, if necessary.
- The Shark Tank takes place in a single round consisting of up 11 contestants.
- Host will present the contestant by announcing their name and the name of their company.
- Each contestant will deliver a timed 60-second pitch of their business. Note: Going beyond the allotted time can result in a penalization of the pitch, resulting in a lower result.
- After each pitch, judges will have an opportunity to provide feedback and commentary of the pitch
- After all contestants have delivered their pitch, each judge will vote on their first, second, and third choice.
- The final results will be determined by adding up the total amount of first place votes.
Tie-breakers: In the event of a tie at first place, an audience vote will be taken based on a “noise meter” vote, with the contestant receiving the “loudest” vote declared the winner. Tie-breakers at second and third place will be determined by taking into account the number of second/third place votes received from the judges.
- First Prize: $250
- Second Prize: $150
- Third Prize: 1-yr Basic Membership to FACCOC
- Pitches have a strict time limit of one minute, after which a timer will notify the speaker that his or her time is up.
- No visual aids are allowed (this includes PowerPoint presentations, etc.)
- No question/answer session will follow the pitch.
- Pitches will be judged on three criteria: delivery, messaging, and effectiveness.
The pitches are judged on three criteria:
Delivery: Because our Shark Tank competition focuses on the pitch, the delivery will be judged by evaluating speakers clarity, enthusiasm, confidence, etc.
Messaging: An effective delivery does nothing for your business with a proper message being communicated. Judges will evaluate if the message’s intent was clear, on point, appropriate tone, etc.
Effectiveness: Even the best delivery and message would be considered a failure if it didn’t achieve it goal. Are you asking for an appointment? Are you looking for leads? Does your pitch move the prospect to take action? These are some of the questions judges will ask themselves when evaluating the effectiveness of the pitch.