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Speaker 1: Shark Tank is back tonight seven thirty on Channel ten.

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Speaker 1: I think it's a whole new tank of sharks. Yeah,

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Speaker 1: and one of them is Davy Fogerty. He's joining us

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Speaker 1: right now.

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Speaker 2: Good morning, Good morning. Now you.

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Speaker 1: The man behind or inside the UDI which has been

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Speaker 1: a hugely successful product. Was it an overnight success story, Davy?

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Speaker 2: It was an overnight success. Six years in.

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Speaker 1: The maze, okay, yes, about.

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Speaker 2: Six yeah, six failures and a lot of lessons along

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Speaker 2: the way.

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Speaker 1: So did you yourself, you know, take it to people

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Speaker 1: and say I've got this great idea and did anyone

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Speaker 1: just laugh you out of their office? And did you

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Speaker 1: keep trying? And how did it come about?

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Speaker 2: Mum?

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Speaker 3: My Mum's usually probably one of my most supportive fans. However,

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Speaker 3: I didn't think she really loved Beauty initially, really, I think.

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Speaker 3: But I think you've got to remember it was quite

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Speaker 3: a shocking product before the game mainstream, you know, no.

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Speaker 2: Influencers would work with us.

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Speaker 3: It was a little bit it was a little bit ugly,

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Speaker 3: you know, comfort over style.

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Speaker 4: Oh, absolutely, yeah, I'm there for that, David. You mentioned

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Speaker 4: about failure mane. You know, do people just see the

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Speaker 4: success and don't see the failed attempts at various things,

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Speaker 4: whether it's this or other ideas you've had.

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Speaker 2: Yeah.

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Speaker 3: Look, I try to talk about failure a lot because

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Speaker 3: otherwise people get discouraged, they get the wrong idea about entrepreneurship.

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Speaker 3: It's it's not luxurious, it's really really difficult, and you

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Speaker 3: know you're going to fail a lot.

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Speaker 1: Yeah, and if you are scared off by failure, then

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Speaker 1: you're not going to end up succeeding. What do you

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Speaker 1: think of this this modern day thing? If everyone gets

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Speaker 1: a participation medal, Davy, does that discourage or encourage?

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Speaker 2: Look?

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Speaker 3: I think we should be embracing exceptionalism. I think, yeah,

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Speaker 3: you know, but at the same time we should be

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Speaker 3: embracing creativity as well. The grading system is doing the

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Speaker 3: opposite that we wanted to, so I think, yeah, we

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Speaker 3: should be celebrating people's creativity in solving problems.

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Speaker 1: All right, So Shark Tank tonight seven thirty, did you

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Speaker 1: have to think long before when they gave you the

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Speaker 1: call and said, hey, do you want to be in

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Speaker 1: our tank?

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Speaker 2: Now? I was a yes straightaway.

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Speaker 4: You're a bit of a fan of the US version

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Speaker 4: of the show too, so you were in yeah.

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Speaker 2: Correct, watching it themselves in school, which is good.

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Speaker 1: Right, Which isn't that long? You make it sound like

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Speaker 1: all those years ago, you know, when we had to

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Speaker 1: wind up the TV with a thing on the side.

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Speaker 1: You've done very well in a fairly short amount of time.

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Speaker 1: If people are looking at going into starting a business

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Speaker 1: right now, what are the best industries to look at

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Speaker 1: doing something in twenty twenty three going into twenty four.

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Speaker 3: Look, I don't know if it's industry specific thevention. I

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Speaker 3: think it's more around distribution and the Obviously advertising on

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Speaker 3: social media is a great way to go about things,

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Speaker 3: so learning that as a skill.

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Speaker 4: Yeah, Hey, David, what's it like being on the show?

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Speaker 3: Mate? Now?

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Speaker 4: I was going to say young hopefuls, but hopeful so

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Speaker 4: it can be of any age coming on the show

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Speaker 4: and you think this idea is actually crap? How do

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Speaker 4: you how do you break the news to them? And

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Speaker 4: you just say, I'm just not involved, just don't want

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Speaker 4: to get involved. And how do you do that because

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Speaker 4: you don't want to discourage people.

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Speaker 3: Yeah, we definitely just give out honest feedback, but we

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Speaker 3: also understand that it's a huge moment for these entrepreneurs

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Speaker 3: being on the show, So yeah, definitely definitely gentle them

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Speaker 3: if we have critical feedback.

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Speaker 2: But yeah, they were, they were really great about it.

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Speaker 3: You know, they took it on board, and people that

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Speaker 3: implement it will probably be more successful.

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Speaker 1: One of the key things that you personally look for

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Speaker 1: in a pitch.

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Speaker 3: Yeah, probably the first thing is that the entrepreneur do

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Speaker 3: they have what it takes to hustle and get it done,

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Speaker 3: get it over the line first and foremost. And you

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Speaker 3: probably look at the invention and is it adaptable for

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Speaker 3: social media?

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Speaker 1: So remember you are promoting yourself, not just your products.

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Speaker 2: Yeah, exactly.

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Speaker 4: Yeah, And David, is it possible to be a successful

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Speaker 4: entrepreneur and any of these kinds of ideas that people

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Speaker 4: are coming up with without them being obsessed with it?

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Speaker 4: Do they have to eat, breathe, live, sleep with it.

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Speaker 2: Look, I think passion's overstated.

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Speaker 3: Initially for your first business, they think you'll just get

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Speaker 3: passionate about learning the trade and how to sell. So

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Speaker 3: but then obviously as you as you get more successful,

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Speaker 3: you need to start being more passionate about your ideas.

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Speaker 1: I guess it's a fine line because if you're you know,

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Speaker 1: if you're too passionate, any little criticism, you're just going

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Speaker 1: to be sort of overwhelmed by all right, well, Shark

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Speaker 1: Tank starts seven thirty to nine on Channel ten. We

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Speaker 1: look forward to seeing what's on offer and what you're

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Speaker 1: interested in. Davy, thanks for your time.

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Speaker 2: You're good and talking men perfect