It's not often I get to watch TV so I've been missing out on much of the Dragon's Den experience.
I saw some of the first series, which I didn't enjoy that much because they'd clearly struggled to get good entrepreneurs (and I was aware of that first hand from the desperate calls from their researchers to some of my production team and to PR people I know).
But I've just seen tonight's programme and really enjoyed it. There was a good mix of people (and only one or two that were obviously put in to look silly and be laughed at), and some good lessons to be learned. There were also some businesses with true potential.
The Igloo refrigerated transport had clearly spent a lot of time preparing and practising their presentation. They came across as professional and knowledgeable. They had the facts at their fingertips. They lacked spark, but seemed trustworthy and businesslike. They'd spotted a clearly focussed opportunity and had a clear plan for how to approach it. They knew exactly what they were going to do with the money - and if I'd have been a dragon I'd have invested.
Meanwhile Levi Roots and his Reggae Reggae Sauce was completely different. He was full of character and instantly likeable. He was honest - instantly admitting the embarrasing truth that his real name was Keith. With some people the song he did would have been embarrassing but he carried it off and it made him stand out. However - he had messed up his figures and the dragons found him out. This mistake was nearly the end of his pitch, as with one or two of the other entrepreneurs who left the room empty handed, but he survived almost purely because two of the dragons liked him and his passion for his business.
Not everyone can rely on having a Levi sized personality (and singing voice), so it's much better to be prepared and really know your facts and figures. It's easy to anticipate what potential investors will want to know - turnover and profitability (both past and forecast) and what you're going to spend the money on. Before any pitch make sure you have all the answers to all the obvious questions.
And maybe, these days, it's also worth making an episode of Dragon's Den part of your pre-pitch planning.
On a side note, you got the clear feeling that not all the dragons get on too well. There was a bit of a spat between Duncan Bannatyne and Peter Jones. Did anyone else pick up other tensions?





Wed, 03/07/2007 - 16:13
HI Steve
What makes me smile on Dragon's Den sometimes is that, entepreneurs go in pitch and offer 2-3 % of their business. Havent they watched Dragons Den before? Did anyone ever got away with less than 30% of their business given away. What annoys me more is people who cannot compare- the value that the dragons can offer to them! I quess at the end of the day, as you mentioned a big number of them just go for the publicity!
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