It's not about winning or losing but how you play the game, and entrepreneur Rick Pescovitz was able to turn one of the darkest moments of his life into an undeniable victory.
Pescovitz, of Cincinnati, Ohio, is the owner of Under the Weather and inventor of its sports pods, known for revolutionizing outdoor spectators' experience.
But Pescovitz wasn't alone during his journey to become an entrepreneur and launch his new company. His business partner and brother, Mark, died unexpectedly a week before Christmas in 2010.
During a drive on a snowy day in Detroit, Mark was killed in a car accident after being broadsided by a semi truck. Pescovitz told the Sharks that the day before the accident he asked his brother to give his thoughts about the Under the Weather pod idea. "This time, you're onto something," Mark replied in an email. Pescovitz still holds on to that email.
Emotions were flowing in the tank, and even Mr. Wonderful, Kevin O'Leary, couldn't hide how Pescovitz's story affected him. "That's a tough story, Rick," O'Leary said, after wiping tears from his eyes.
The death of his brother pushed Pescovitz to continue on with product development and eventually profitable sales. Upon release, the sports pod immediately went viral. After $2 million in sales, Pescovitz netted $1 million and has only spent $11,000 on advertising. He braved the elements of the Tank to seek a partner with expertise in distribution. There are 70 million soccer parents just in the U.S., Pescovitz said, and he wants to reach all of them.
Each pod sells for $99.99 and costs only $23 for Pescovitz to make. Daymond John and Lori Greiner each took a turn stepping down from the panel and into the pod, braving a random indoor rainstorm in the process. Experiencing the pod firsthand persuaded Daymond, and he offered Pescovitz a deal of $600,000 for 20 percent. O'Leary matched that deal. However, Mark Cuban came out ahead with an offer of $600,000 for 15 percent and then the option to buy another 10 percent after 12 months.
At one point, Robert Herjavec asked Pescovitz if he wanted to be an entrepreneur. "I like to wear what I want every day, I don't like to sit behind a desk, and I love money," he said. There's no arguing that, for him, sticking to these goals has been a grand slam.
Greiner best summed up how Pescovitz's brother would feel. "He'd be so proud of you … so proud."
Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank," which airs weeknights starting at 7 p.m. ET.