Strategic Risk Lessons from the 'Shark Tank'

During our long winter hibernation, my husband and I have enjoyed watching pseudo-reality television shows, like Pawn Stars, American Pickers, Restaurant Impossible, and Bar Rescue. However, my favorite of these series has become Shark Tank. To my husband, the show’s premise is simply fun: multi-millionaire tycoons (Sharks) offer quirky-but-promising entrepreneurs opportunities for capital and professional advice, in exchange for either a percentage of the new company or royalty fees. 

For me, the relevance of the show has moved beyond this basic view of its entertainment value, as I have come to realize it actually points to some interesting lessons on how accomplished business leaders manage strategic risk.