Daymond John goes backstage to make a deal with founder in one of the rarest 'Shark Tank' moments
Despite impressive pitches and innovative products, entrepreneurs often have to try hard to convince "Shark Tank” investors to secure support for their ventures. Multiple entrepreneurs hope to close a lucrative deal with one or more sharks but have to walk away empty-handed. This is why it sounds unthinkable that an investor on the show would run after an entrepreneur with an offer, but it did happen in the case of Billy Blanks Jr.
Son of the legendary Billy Blanks, who has the highest-selling fitness DVD of all time, Junior wanted to make a name for himself in the same space. However, support from his father had been minimal, and there was a point in time when he and his wife were homeless and living out of a motel. That’s when he created the Billy Blanks Jr. Dance With Me program, which helped them get out of that motel. Hence, the couple decided to get more funds for the growth of their new business.
Things didn’t get off to the best start as Kevin O’Leary, Barbara Corcoran, and Robert Hervajec backed out from offering a deal. Blanks was asking for $100,000 for a 20% stake in his company. With three sharks out, things were looking bleak for the dance instructor. That’s when Daymond John stepped in and offered a deal with Mark Cuban, offering money for 50% of the company.
However, there was a catch as John, who had worked closely with the company Zumba, said that the Billy Blanks Jr. Dance With Me program would be sold as a part of the company. This gave Junior something to think about, and he had to speak to his wife before giving his response. At this point, the Sharks did not believe that he had it in him. As it turned out, they were right, but only for that moment.
The entrepreneur believed that this meant that his product would become a part of Zumba and backed out. After he left, John went after him and tried to convince him to take the deal. He said, “I want to help him for himself now because he is killing himself.” John believed that Blanks did not quite understand what was being offered to him. Being sold as a package on Zumba didn't mean the product would change, but it would just be the platform on which it would be sold. For example, if Walmart sells a product of a different company, it doesn’t become a Walmart product. The shark went backstage to make him and his wife understand that.
The couple shed tears when they saw John come to the backstage area and talk to them. “You don’t realize what this means to us that you’re coming to us. I would definitely take that deal,” Junior said. It was a highly emotional moment for everyone involved. Even John asked the couple not to make him cry. “I will do the best for you that I possibly can,” he added as he shook hands with them.
