"So overconfident and so overly tenacious"—Shark Tank's Daniel Lubetzky talks about one common mistake entrepreneurs make on the show

Daniel Lubetzky, an entrepreneur and investor on Shark Tank, recently pointed out one mistake that entrepreneurs repeatedly commit in pitching their businesses to investors. In an Instagram post uploaded on December 14, 2024, he said that the difference between determination and overconfidence can make a lot of difference in getting the deal done or not.

According to Lubetzki:

“One big mistake I noticed from two entrepreneurs yesterday was that they both were so overconfident, so overly tenacious that they crossed the line.”

He noted that while entrepreneurs should share their successes, being defensive about constructive criticism can harm partnership opportunities. Building meaningful investor-entrepreneur relationships requires a balance of persistence and flexibility.

---

Common mistakes entrepreneurs make on Shark Tank: Insights from Daniel Lubetzky

The fine line between determination and overconfidence

One of the most common mistakes entrepreneurs make on Shark Tank is pushing their ideas with overconfidence, to the point where they appear unwilling to accept feedback. Daniel Lubetzky explained:

"When pitching to investors, the line between determination and overconfidence can be the difference between landing a deal or walking away empty-handed."

He further indicated that though confidence in one's business is necessary, an aggressive stance could raise red flags in terms of making one difficult to work with. He said that investors seek a partner who has conviction and flexibility.

“You need to find the right balance,” Lubetzky stated.

As such, the Shark Tank investor further emphasized that entrepreneurs have to be confident in their ideas while also being open to some inputs. He further pointed out that whenever entrepreneurs become defensive and dismissive of constructive criticisms, this may indicate an unwillingness to evolve or change; a characteristic that may easily scare away potential investors.

---

The role of constructive feedback in entrepreneurial success

Lubetzky emphasized that entrepreneurs should be honest about their weaknesses and mistakes. He noted,

“If you’re pitching to investors, be honest about your weaknesses, acknowledge your mistakes, and be open to feedback.”

The Shark Tank investor underscored the value of viewing criticism as an opportunity to learn and improve. Lubetzky further explained that investors are assessing not just the product or service being pitched, but also the entrepreneur's ability to respond to challenges.

---

Persistence vs. adaptability

In his post, Lubetzky emphasized the balance between persistence and adaptability, noting that this is what distinguishes successful entrepreneurs. He explained,

“Striking the right balance between persistence and adaptability is what sets great entrepreneurs apart and paves the way for lasting partnerships.”

He emphasized that while persistence is required to work through obstacles and push a business forward, this must be balanced with the ability to adapt. Entrepreneurs who do not demonstrate flexibility may struggle to build strong partnerships as investors need to see them pivot when necessary.

The Shark Tank investor added that being too flexible without a clear sense of direction can also be problematic because it may suggest a lack of confidence or vision. He emphasized that entrepreneurs should approach their pitch with both confidence and a willingness to adjust when necessary.

---

Catch new episodes of Shark Tank Fridays at 8 PM ET and stream them anytime on Hulu! Don’t miss out on the latest pitches and exciting deals!