Would you go into the Dragon's Den? - Page 2 - UK Business Labs

Paul Simister · #26 (**permalink**) 07-03-2009, 10:03 AM

I wouldn't do it and after initial interest I have stopped watching.

I had a client who really wanted to go on, was accepted for one idea but decided that the project would funded with friends.

So she started thinking of silly projects to go and present to see what they said - and she wanted me in there with her.

Lasting Designs · #27 (**permalink**) 07-03-2009, 02:06 PM

There's the daft rule of not being able to take paperwork in with you. How many people are tripped up by not remembering figures when a glance at a business plan would have avoided the ridicule they are subjected too. Its not as if they can't take notes, a pointless rule that ruins what should be a good programme. There's much more to business than being able to remember the numbers. They advise being passionate about what you do, if your passion is building boats from coke cans, why do you need to remember the numbers? Not getting them right, or knowing how you got them is another matter...

smartbookings · #28 (**permalink**) 16-04-2009, 08:59 PM

Quote:

Originally Posted by Emma

Would you go into the Dragon's Den? I'm not sure if I would. It seems that people sell their soul just for the publicity.

Oh yes I would love to!

**Kay** · #29 (**permalink**) 18-04-2009, 12:14 PM

No way. I could never do a decent pitch in private, never mind on the telly. I do enjoy the show, though.

I used to like Dunc, but he's far too rude now. Peter used to be like that but he's mellowed now. Deborah and Theo are great, and James Caan is a good new member. If it was up to me I'd get shot of Duncan and bring back Richard Farleigh.

clairejarrett · #30 (**permalink**) 21-04-2009, 09:27 AM

I wouldn't dream of it. Aargh the humiliation some of the contestants go through!

royalegraphics · #31 (**permalink**) 21-04-2009, 11:19 AM

I would if I had the brains to think of something to go on there with!

**trevorwood** · #32 (**permalink**) 21-04-2009, 12:38 PM

Sometimes I wish the people applying had some brains to think with

fundingportal · #33 (**permalink**) 30-04-2009, 10:51 AM

In short, 'no' because it is clearly a bit of a showcase for the hammed-up investors. Intelligent investors don't commit in 3 minutes!

However, as a viewer the ideas and presentation are a fair snapshot of the type of thing that Angels & VCs come across on a daily basis - from the borderline fruitcake to sound business with unreasonable expectations.

If you are seriously looking for invstment it is worth bearing in mind:

- Investors (of any kind) are bombarded with applications; the 3 minute pitch is a useful model to elevate your application above the other 100.
- Every single proposal is going to be the 'next big thing' and is going to earn millions. Go in armed with hard facts and thorough research, not just spurious cliams. Be prepared for tough questions.
- Be realistic in your expectations. The investor is going to help you make millions; they will want a cut of that!

The dragons might have millions of pounds, but they got that through shrewd investment. As a very broad rule of thumb, one in 3 investments will pay back, so the success need to give them a handsome return!
-

Rachael · #34 (**permalink**) 04-05-2009, 05:22 PM

Quote:

Originally Posted by brunswickheights

Just to see Peter Jones ;-)

That would probably be my reason for doing so too...but the only reason!!

I couldn't, I'd get too defensive over my product and I just find the way they speak to some contestants appalling even if they do deserve it. I just couldn't do it!!

Gaj · #35 (**permalink**) 23-05-2009, 06:46 PM

I'd do it too as the exposure and right backing could really speed your growth.

However the figures you hear on Dragons Den are usually so small, when you look at VC like Balderton (Balderton Capital) you see much bigger amounts of investment.

JumpStart · #36 (**permalink**) 02-06-2009, 06:25 PM

I would go in there to advertise the business mainly - as long as your confident that you will come across OK on TV which can be difficult to know in advance - and remember your NUMBERS!!!

If you get funding great, if not and not at the level you want to accept then walk away and you will find other investors - You then get advertising, interest in your business and can then take it elsewhere if really required.

**Maxine** · #37 (**permalink**) 02-06-2009, 10:57 PM

I would for the feedback and experience but only if it was not on telly! (defeats the object I know but it's the tv part that would put me off)

**matt.chatterley** · #38 (**permalink**) 03-06-2009, 08:45 AM

Quote:

Originally Posted by trevorwood

Yes - if I had the right idea and the right team with me.

Ditto. If I had an appropriate idea, the right basis for investment and the right people on board - and all we needed to make the dream work was investment plus possibly some relevant contacts?

Sure.

I would try really hard not to whinge about the percentage they ask for, though! No - you're not gonna get 200000 quid for 3% of your business making plastic socks for zebras...!

Davymac · #39 (**permalink**) 03-06-2009, 04:10 PM

The only benefit I see from being on Dragon's Den is to get publicity. The deals done on camera rarely seem that good for the ideas person.

manton72 · #40 (**permalink**) 18-07-2009, 08:47 PM

I would go only to take a tried and tested product to another level.
Sometimes is hard to get a product of the ground on limited funds, and is vital to have access to all the marketing, contacts, buyers, accounts, and funding you can get your hands on, so I can imagine the dragons could be fearly useful to get all the required back up to ensure the success of the right product fast.

TheNationalPages NM · #41 (**permalink**) 11-08-2009, 04:34 PM

Only if I knew all the figures off the top of my head! They are always pretty hot on them!

wizzardsblog · #42 (**permalink**) 11-08-2009, 07:07 PM

I would for a laugh

upnorthal · #43 (**permalink**) 12-08-2009, 09:42 AM

I've got too much pride to go on a show like that.

I want to build my business up myself without giving away stupid percentages of ownership.

**UK Business Network** · #44 (**permalink**) 12-08-2009, 09:49 AM

Quote:

Originally Posted by Emma

Would you go into the Dragon's Den? I'm not sure if I would. It seems that people sell their soul just for the publicity.

Like a whippet, you could sell those guys their own shoes if you have the correct pitch and information, the audience alone would be worthwhile, but only, and I stress ONLY if you have all the answers, manners and play the worlds favourite radio station W.I.I.F.M for them to hear, What's In It For Me?

wizzardsblog · #45 (**permalink**) 12-08-2009, 09:50 AM

Quote:

Originally Posted by upnorthal

I've got too much pride to go on a show like that.

I want to build my business up myself without giving away stupid percentages of ownership.

"Pride before a fall".

If I had the opportunity to pitch my business to 5 potential high profile investors, I would jump at the chance.

The investors aren't going to be a part of the business forever, they'll have an exit figure in mind and once they've reached it they'll gracefully pull out and leave you with a firm foundation for the future.

**Kay** · #46 (**permalink**) 12-08-2009, 11:02 AM

Hey Wiz, that's a great way to look at it. Me too. I'd jump at the chance of having any of these guys helping me out. Remember, 60% of something is a lot better than 100% of nothing.

(But there's no way I'd go on the telly. I won't even speak to people on the phone.)

The exit figure, as Wiz said, that's what you have to give 'em. Excellent posting, thanks.

**UK Business Network** · #47 (**permalink**) 12-08-2009, 11:07 AM

I remember seeing two guys on there once, they were told their management sucked but the product was awesome, and they would invest if the dragons own management could be put in place for something like 40%, they refused the offer, I was on the edge of my seat getting all irate, if someone much beet than me would come into my company with the backing of people at that level I would have jumped at the chance.

One man's meat is another man's poison, I guess!

upnorthal · #48 (**permalink**) 12-08-2009, 11:09 AM

Quote:

Originally Posted by wizzardsblog

\"Pride before a fall\".

Fair point

Quote:

Originally Posted by wizzardsblog

The investors aren't going to be a part of the business forever, they'll have an exit figure in mind and once they've reached it they'll gracefully pull out and leave you with a firm foundation for the future.

If I was a high flying investor and I was putting in say 100,000 into a business for 40% there is no way I would offer an exit figure if I saw that the business
was making money and returning above my initial investment. Why would I? Just to be nice to the orginal owner?

Of course, if the company was not as profitable as first expected then I would consider making an offer for an exit figure.

These investors are clever, shrewd people as has been stated previously.

**UK Business Network** · #49 (**permalink**) 12-08-2009, 11:26 AM

Both very valid, if their time and staffing is still worth the money they wouldn't pull out, but an exit strategy should be part of any investment, whether shares, companies or otherwise, my exit is Yell or BT!

Come and make me an offer now!

**Ray Stewart** · #50 (**permalink**) 12-08-2009, 11:34 AM

Excellent point Chris.

Every single one of us needs an exit strategy...and our nearest and dearest need to know what it is.

Not everyone likes planning for the future but there will be a time for each of us when we have to give up our business for health, old age, death - or maybe even by choice.

It is much better and easier if you have thought about it ahead so that when the time comes the plan just clicks into place.