Shark Tank Example: Learning from Failure

On a recent Shark Tank, two entrepreneurs sought investment in their dog water company—flavored water for your favorite pet to drink. The sharks weren't excited, and Robert Herjavec summed up the sentiment: "My challenge is with you." He then listed the reasons the founder gave for not being farther along with the business, and they were all outside her control. At one point, the founder blames the economy and the company's inability to get a business loan.

The founder doesn't quite understand—or doesn't acknowledge the criticism. She responds with, "But I'm still here!" and seems to miss the point entirely.

The end is also awkward. It takes a while for her to leave because she's still selling even after all sharks are "out."

Discussion:

• How could the entrepreneurs demonstrate humility and their ability to learn from failure? In other words, how can they describe their setbacks in a way that doesn't turn off investors?
• How do you view the founder's last couple of minutes with the sharks? I admire persistence, but is it too much? If so, why?