Michael Levin whose business, BusinessGhost, can help anyone become a published author was seeking $200,000 for 10% of the company on The Shark Tank. Michael Levin offers customers who want to publish a book ghostwriting service so they can use the book as a marketing tool.
Robert Herjavec didn’t understand how the business scales. They charge $35,000 to $75,000 for each ghost written book which includes 50-100 copies of their book. Daymond John asked why is he limiting the genre to business books and questioned the size of the market.
Kevin O’Leary didn’t see how he could make enough money in the business and opted out. Michael said he has reached his peak with the company and needs to bring in a CEO calling himself a knucklehead. Robert Herjavec said that he needs to be passionate and in the business and cannot opt out. Barbara Corcoran said that him opting out to be a CEO is code for him being tired.
Mark Cuban said that with digitization of books it was not something he could invest in because it was the equivalent of a weightlifting snowman. BusinessGhost left with nada.