ABC's Shark Tank rings the NASDAQ closing bell in New York City, 01/05/2010. (ABC/Steve Fenn) ROBERT HERJAVEC, BARBARA CORCORAN, KEVIN O'LEARY, DAYMOND JOHN, KEVIN HARRINGTON

HollywoodOutbreak.com got the - we won’t say pleasure - but privilege of pitching a show to Shark Tank entrepreneurs Kevin O’Leary - who we’ll call Nails and Daymond John - who we’ve named Captain Bringdown.

The exchange was pretty lively - and let’s just say our neato-jet idea for a reality series won’t be on air anytime soon - but we did learn a few things about these two Sharks…and about preparation.

First, be on your game…these guys are the real deal and can sniff out problems before you can even attempt to overcome any objections. So, if you’re planning on trying out for the show:

1. Flesh the idea out.

2. Be clear about the costs vs profit.

3. Make sure you understand fully how they can earn their money back and turn that huge profit quickly.

4. And most important…don’t be a pig when it comes to dividing shares (learned that the hard way).

What we experienced with the Sharks is what makes the show so entertaining - and dare we say it - educational.

Contestants pitch there business ideas to a panel of big-wigs and, if the concept is good enough, they could walk away with investment capital for their effort. Not a bad take in exchange for the possibility of coming off as a dope on camera.

The investors see the show as an opportunity for themselves, too, in both business and publicity for the ventures - and make no mistake, these guys are in it to win it.

All things considered - and despite the beat-down - a repeat visit to the Shark Tank would be welcome.

Click onto media bars for:

Sharks beating HollywoodOutbreak.com down with just a handful of questions and criticisms.

Sharks explaining what they actually learn from each other while the contestants are pitching.

Why O’Leary thinks business is war while John’s killer instincts are more tempered.

What changes are in store for the new season of Shark Tank.

The all new season of Shark Tank kicks off tonight, 9:00 p.m. ET/PT on ABC.