Level up your team-building skills with Shark Tank: Pitch, Fund, Succeed!

What is Shark Tank?

Shark Tank is a super fun team-building activity that puts your business idea pitching skills to the test. It works in a similar way to the TV show Shark Tank. Each player comes up with a unique business idea, and they get the opportunity to pitch it to other players - also known as 'the sharks'.

Everyone then gets a chance to be in the 'shark' role, where they listen carefully to the pitches, ask any clarifying questions, and ultimately decide where to allocate their funding (which is all pretend, of course!). The activity generally ends with a discussion about what worked, what didn't and some friendly feedback to help improve the pitching skills.

The game is not just about competition, it also encourages teamwork, communication and critical thinking. And the bonus point? It’s a whole lot of fun and lots of laughs guaranteed!

Materials needed for Shark Tank

Shark Tank requires no materials or tools to play. Just bring yourself and a few others and you'll have a great time!

How to play Shark Tank

• Gather participants: Get everyone together in a comfortable space where they can all sit or stand in a circle.
• Explain the game: Briefly explain the rules of Shark Tank to the participants. Let them know that they will be pitching their ideas to a panel, like on the TV show Shark Tank.
• Assign roles: Assign one person as the 'Shark' or 'Investor' who will be listening to the pitches, and assign the rest as 'Entrepreneurs' who will be presenting their ideas.
• Start the pitches: The first participant presents their business idea to the 'Shark' or 'Investor'. They have a limited amount of time to make their pitch and convince the 'Shark' to invest.
• Feedback and decision: After each pitch, the 'Shark' provides feedback and decides whether or not they would invest in the idea. They can ask questions and make comments.
• Rotate the roles: After each pitch, rotate the roles so that a new person becomes the 'Shark' and another person gets their chance to pitch their idea.
• Continue the pitches: Keep going until everyone has had a chance to be the 'Shark' and present their idea. Encourage participants to be creative and have fun with their pitches.
• Wrap up: Once everyone has pitched their idea, wrap up the activity by discussing the pitches, sharing laughs, and thanking everyone for participating.

Benefits of Shark Tank

Who doesn't love a good icebreaker or team-building activity? They're about more than just fun and games (although that's definitely a big part of it!) They bring so many advantages to the table, especially when it comes to the Shark Tank activity.

Such activities provide a safe space for individuals to become more comfortable with their team, improve communication, foster creativity, and strengthen decision-making skills. They also help identify natural leaders and collaborative thinkers within a group. Plus, they offer an excellent opportunity to learn in a low-pressure, relaxed environment.

Shark Tank is a great example of this. It's more than just a game - it's a platform for individuals to shine, creatively and critically, while having fun!

Some of the benefits of Shark Tank include:

• Improves communication skills: Players need to articulate their ideas clearly and compellingly.
• Encourages creativity: Coming up with exciting business ideas requires plenty of out-of-the-box thinking.
• Promotes teamwork: Even though it's a competition, players can't do well if they can't work with others.
• Enhances critical thinking: As a 'shark', players need to evaluate the pitches and decide which ideas are worth funding.
• Totally fun: It's an enjoyable, light-hearted activity that brings everyone closer together.

Why we like Shark Tank

We absolutely love Shark Tank! It combines the thrill of competition with the satisfaction of collaboration and team spirit. Its format gives everyone a chance to shine - whether you're brainstorming a groundbreaking business idea, delivering a persuasive pitch, or acting as a decisive 'shark'. We also adore how it encourages openness, creativity, and promotes effective communication. But most importantly, we love it because it's always heaps of fun and gives everyone a good belly laugh!

Reflection questions for Shark Tank

In the Shark Tank team-building activity, reflection questions play an important role. They're not merely a wrap-up or a drill-down of what happened. Rather, they open up a dialogue that deepens the learning experience and consolidates the skills practiced during the game.

These questions are designed to encourage participants to share their thoughts, feelings, ideas, and experiences. By discussing their responses, participants get a chance to reflect upon their actions, understand why they made certain choices and how they can improve in the future.

Furthermore, when framed well, these reflection questions can help to foster a supportive and open environment. They promote a culture of learning and continuous improvement. Understanding each other's perspectives through these discussions can significantly improve team dynamics.

1. What was the most challenging part of creating your business pitch? - Understanding the difficulties that arise when crafting a business proposal can help you learn and grow from this experience.
2. How did you feel when you were pitching your idea to the 'sharks'? - Getting a handle on how you handle pressure and how it influences your performance is key in preparing for future situations.
3. What strategies did you use to convince the sharks to invest in your idea? - Discussing your approach and techniques will help you realize their effectiveness and areas where you can improve.
4. Was there any feedback you received that surprised you, and how will you use it in the future? - Exploring unexpected responses opens the door to gaining new perspectives and implementing positive changes.
5. How useful did you find the team-building aspect of the Shark Tank activity? - Recognizing the value and impact of teamwork can help foster better cooperation in future group tasks.

Which skills does Shark Tank build?

• Presentation skills - Master the art of giving effective presentations.
• Creativity - Creativity skills can greatly enhance icebreakers and team building by allowing participants to think outside the box and come up with unique solutions and ideas. This promotes collaboration, boosts morale, and fosters a positive and innovative environment within a team.
• Critical thinking - Critical thinking skills are valuable for icebreakers and team building because they enable individuals to analyze information, make reasoned judgments, and effectively solve problems, fostering open communication and collaboration in group settings. Moreover, these skills help individuals to think critically and creatively, which leads to innovative ideas, enhanced decision-making, and ultimately, the overall success of team activities.
• Negotiation - Negotiation skills are beneficial for icebreakers and team building because they help create a collaborative and inclusive environment where everyone's ideas and perspectives can be heard and valued, fostering better communication and teamwork.

Tips for inclusivity

Ensuring inclusion in the Shark Tank activity not only helps everyone to feel valued and respected, but also drives amazing results! When everyone feels included, they're more likely to engage actively and contribute their unique ideas. Besides, embracing diversity in ideas can lead to the discovery of the next big thing! So, let's dive in and learn some tips on how to make the Shark Tank game more inclusive!

• Set Ground Rules: Start by setting a friendly and respectful environment. Avoid harsh criticism and encourage constructive feedback instead. Remember, the goal is to build each other up, not tear anyone down!
• Ensure Varied Representation: Mix the teams up! Make sure each team has people with different backgrounds, experiences and perspectives. This will not only make the game more interesting, but also ensures a plethora of ideas.
• Value Every Idea: Every idea is worth hearing and discussing, no matter how big or small. Ensure everyone has a chance to share their ideas equally.
• Adapt Communication Methods: Remember, not everyone communicates in the same way. Some may prefer speaking, while others might be more comfortable writing their ideas down. Encourage multiple ways of communicating!