Seven Lessons to Learn from Business Reality Television

I have a problem. I am addicted to business reality television. You can keep the Bachelor and The Voice. Instead, I am drawn to the real-life struggles and lessons from shows like Shark Tank, The Profit, Undercover Boss, Bar Rescue, and more.

I continually tell my wife (who does not believe me) that this is more than some random entertainment obsession. I watch these shows to learn! It’s amazing how many of the tips and tricks put forward by the experts on these programs relate directly not just to running a small business but to proposal and bid management. With this in mind I decided that our next blog post series would focus on the lessons we can learn from these shows.

For me, there are seven key lessons I will address during this series.

• Know Your Numbers. There’s nothing worse than someone pitching a business who does not have a grasp on the basics. In proposals, we need to know our company’s key numbers and ideas and focus on conveying them across clearly.

• Embrace Solutions, Not Excuses. So many of these programs are about fixing failing businesses. When things go wrong, we need to find the right answer and move forward.

• Know Your Market. If you do not know who you are selling to and who your competition is, you are at a major disadvantage in both business and bidding.

• Be Confident. Many a pitch has fallen apart under the weight of nerves and indecision. In proposals, especially orals, projecting confidence and expertise is critical to success.

• Adapt to Survive. So many companies do not see change coming until it is too late. Making sure your proposal demonstrates your company’s capability to adapt to changing conditions can be a critical discriminator. In addition, being able to change as a proposal professional is a key to long-term career success.

• Unique Selling Proposition. Every day, consumers are faced with choices regarding where and how to spend their money. How do you stand out from the crowd? How can we have our proposals stand out from the crowd?

• Be Open to Feedback. Like all reality shows, business reality television thrives on drama. Often it involves a lack of willingness to listen to and accept constructive criticism. Proposal professionals need to be open to learning lessons and incorporating feedback, both during the bid cycle and after submission.

Each of these topics will have its own blog post in the coming weeks.

I hope you enjoy this coming series and learn a few things from it. And next time you’re channel surfing and come across one of these programs, stop and do some “professional development.” It will be time well spent.