Are any of coaches a fan of BBC's program "Dragons Den"?
I've been watching it for quite some time now and I've found it extremely valuable in how present an effective pitch and (equally valuable) how NOT to pitch.
Early on, I found it painful to watch. I thought the Dragons were mean and nasty, but I finally got a thicker skin and realized that the hard Dragon questions are completely appropriate.
Watching the program is giving me a great insight into what investors want to hear and know about an entrepreneur's business.
Paula
4 comments:
Big Sis:
I just watched a YouTube clip about the online retaraunt service entrepreneurs. Looks like a great show. Thanks for pointing this one out, I'd never heard of it.
Johnathan,
the Dragons Den is absolutely horrific for the entrepreneurs .. they are usually asking for at least 100,000 pounds (sorry, can't find the "pound"' symbol...) But it really is an amazing experience watching the pitches.
I watch BBC on DircTV on channel 264.
Paula
I watched Dragons en again tonight and the one thing that always strikes me is that the entrepreneurs are asking for upwards to 150,000 pounds in investment, but most of the time are only willing to offer 5-10% equity in their companies (and the future valuations of their companies are beyond belief).
I suppose the best thing I've gotten from Dragons Den is a sense of a "reality check" for entrepreneurs.
One value-added aspect of the Dragons Den is entrepreneurs who accept the offer of financing also get very real expertise in marketing and other business aspects beyond the basic funding, but most entrepreneurs have to be willing to give up as much as 40% equity. In my mind it's absolutey worth it.
Paula
Paula:
I just posted a video of one of the Dragon's Den clips.
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