Shark Tank’s Matt Higgins: From Street Corners to Billion-Dollar Portfolio, Inspiring Entrepreneurs Worldwide
Matt Higgins, a familiar face from seasons 10 and 11 of the hit show ‘Shark Tank,’ has witnessed firsthand the power of entrepreneurship and the global reach of the ‘Shark Tank’ dream. In an interview with Benzinga, Higgins, who also appears as a guest shark on ‘Shark Tank Dubai,’ shared his insights on the show’s enduring success and what he looks for in pitches.
“Everyone has a dream that isn’t just about launching a business, it’s about creating something special in the world and leaving a legacy,” Higgins said. “’Shark Tank’ doesn’t only represent the American dream anymore, it represents the global dream for everyone, everywhere.”
Higgins, who once sold flowers on street corners, understands the power of perseverance and the importance of believing in your dream. “I sold flowers on street corners and grew up in abject poverty. And yet here I am on the number one business show in the world, building a billion-dollar portfolio, founding many companies, and teaching at Harvard Business School. My journey from nothing is exactly what ‘Shark Tank’ is about. Anything is possible!” he exclaimed.
He aims to inspire others, particularly women and people of color who may feel the “entrepreneurial dream is not available to them.” He hopes his presence on ‘Shark Tank’ will demonstrate that anything is achievable with hard work and dedication.
Making Friends with Sharks and Finding the ‘Entrepreneurial Fire’
Higgins’ time on ‘Shark Tank’ wasn’t just about investment deals; he forged lasting friendships with his fellow sharks. He enjoys fishing with Daymond John, who he shares a similar background with, both growing up in Queens, NY. He connects with Robert Herjavec on an emotional level, calling him the “sensitive shark.” He calls Lori Greiner a fellow “foodie” and they’ve shared memorable meals together. Higgins has even partnered with Kevin O’Leary on deals outside the show.
While Higgins appreciates Mark Cuban’s decisiveness and “rare titan of industry” status, he admires Cuban’s empathy and authenticity. “He doesn’t care what you think, but he cares how you feel. What I love about Mark is he’s the same on the show as he is in real life. He really cares about nurturing the entrepreneurial dream.”
The Power of Humility and Confidence
When evaluating pitches, Higgins looks for a unique blend of confidence and humility in entrepreneurs. “You want entrepreneurs who have a unique blend of confidence and humility – humble enough to acknowledge they don’t have all the answers, but confident enough to believe they’re going to find them,” he explained.
Higgins was struck by the shared “entrepreneurial fire” he saw in pitches from both the U.S. and Dubai versions of ‘Shark Tank.’ However, he noted that some pitches in both versions made common mistakes, such as not knowing their numbers. This highlights that “entrepreneurialism is the same wherever you are in the world.”
Navigating the Dubai Market
Higgins’ approach to making deals on ‘Shark Tank Dubai’ differed slightly from his U.S. experience. “When it comes to the pitches, I’m looking for cash flowing businesses where I can have a guaranteed path to return my money without hoping for a venture exit because I’m not as familiar with what types of businesses in this part of the world are going to receive a venture exit. Plus, cash is king and I want mine back in the foreseeable future!” he explained.
He also embraced partnerships with other sharks in Dubai, a departure from his usual solo approach. “When you’re operating in an area you’re not from, you don’t know the customs and you don’t know which businesses are going to resonate.”
Higgins’ journey on ‘Shark Tank’ underscores the power of believing in your dreams, the importance of perseverance, and the universality of the entrepreneurial spirit. From street corners to the international stage, his story inspires entrepreneurs across the globe to pursue their own dreams and leave their mark on the world.
