As a guest judge instead of a contestant, several elements of the show surprised Siminoff, who says he's been a fan of "Shark Tank" for years. He was impressed by the lucrative portfolios the judges have built from "Shark Tank" businesses — and that the Sharks really are investing their own money.
"It's real money, it's my actual cash, so I also want to make sure I'm doing the right thing," Siminoff says, and he knew things would move quickly.
"It's like a firing squad of information," Siminoff explains. "The entrepreneur comes out: 'I'm raising $600,000 for 12 percent of the company, blah, blah, blah,' and then they go into the whole thing. And people are firing questions, and you're trying to keep up with the knowledge because you are trying to figure out as quickly as possible, do I want this investment? If I want it, I need to act fast and I need to be definitive or else I'll be outbid."
He came prepared.
"I created a grid that had percentages on one side, money on the other side," Siminoff says. "So any time they would say, like, '$200,000 for 20 percent of the company,' I'd literally just sit there and [look] at the grid and circle it, for the valuation.
"And it's not because I can't do math," he adds. "It's because trying to even do that, I found, when everyone was talking, would get me out of the conversation of trying to be part of what was happening...so that was kind of like my little trick."
Siminoff says that now that he's been in the Sharks' shoes, he gets why he was rejected back in 2013.