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Dragons at the Dragons’ Den

Dragons’ Den is a UK based reality show series and it is a brilliant concept for inventors and aspiring entrepreneurs to secure financial investment from the investors’ panel, also called the dragons at the Dragons’ Den, for their unique and innovative product ideas. The Dragons’ Den concept has been taken up from the original show that was aired in Japan for the first time and the show has had successful series in various countries across the world. The participants on the show are supposed to pitch in their ‘unique’ business idea to the dragons at the Dragons’ Den and ask for an investment amount before the show in return for a percentage equity in the company for the dragons at the Dragons’ Den. The participants are supposed to pitch in a 3 minute presentation to the dragons at the Dragons’ Den about their business idea. The dragons at the Dragons’ Den would then quiz the participants and dig in to business idea and if they are really satisfied with the whole concept and like the idea, the dragons at the Dragons’ Den would make an offer to the entrepreneurs. The aim is that the participants should match up at least to the total amount that they had asked for earlier on the show, from the dragons at the Dragons’ Den, failing which they have to leave the show without anything at hand.

The panel or the dragons at the Dragons’ Den comprises of five successful venture capitalists who ask questions to the participants about their business concept and then the each dragon at the Dragons’ Den takes a decision of weather or not to invest in the business idea of the presenter. The five venture capitalists that make up the team of panels or so called the dragons at the Dragons’ Den include:

  • James Caan
  • Duncan Bannatyne
  • Deborah Meadan
  • Theo Paphitis
  • Peter Jones

These venture capitalists or the dragons at the Dragons’ Den are multi-millionaires who have years of knowledge and experience in evaluating services and products. The dragons at the Dragons’ Den invest in millions collectively each year in new and unique product ideas and concepts, including many modern, high-tech and latest technological products. Most of the dragons at the Dragons’ Den have been successful people right from an early age.

James Caan: The dragon at the Dragons’ Den, James started doing business out of a little room which was at the Pall Mall and ever since has been developing, selling and building businesses. James Caan first appeared at the Dragons’ Den in the year 2007 and has since then invested approx £1,241,666 in close to eighteen businesses.

Duncan Bannatyne: This dragon at the Dragons’ Den, made a lot of bucks from ice cream vans before he moved on to the business of health clubs and nursing homes. Since he first appeared in the Dragons’ Den in the year 2005, Duncan Bannatyne has made £1,617,500 of total investments in nearly twenty one businesses.

Theo Paphitis: This dragon is one of the most popular, high profile and sought after businessman in the UK. His business spans consumer goods, finance, property and retail. Ever since he appeared in Dragons’ Den in the year, he has agreed for investments which total up to £2,171,666 in about thirty one businesses.

Deborah Meadan: At a tender age of 19, Deborah started her own business of ceramics and glass import organization with a very small capital and since then she has been on a roll. Ever since she first appeared in Dragons’ Den in the year 2006, she has agreed for investments that total up to £1,605,000 in about twenty six different businesses.

Peter Jones: Peter’s entrepreneurial career began at the age of 16, when he started a tennis academy. Later on he founded a computer business as well as a computer support organization. Ever since his first appearance in Dragons’ Den in the year 2005, he has agreed for investments which total up to £2,024,166 in about thirty two different businesses.

Pitching to the dragons at the Dragons’ Den is not meant for the weak-hearted, as it’s pretty hard to impress the dragons at the Dragons’ Den, but if you have a strong presentation and a well researched and developed product, you might have all chance of securing the support of the dragons at the Dragons’ Den.

Generally, what happens is:

  • The flaws and faults in the business concept or idea of the participant is revealed quickly revealed and discarded by the dragons at the Dragons’ Den
  • The participant who is presenting his business concept or idea to the dragons at the Dragons’ Den does not do his research properly thus he has little knowledge about the whole concept and thus is sent home
  • The presentation of the business idea is nice but when the dragons at the Dragons Den start quizzing the participants about the same, the participants fail to deliver.
  • The presenters’ character is viewed as fallacious and thus, no matter how good the business concept is, the dragons at the Dragons’ Den refuse to invest in the same.

Nevertheless, oftentimes, some participants do pitch a decent presentation of their business idea to the dragons at the Dragons’ Den, generally after a very wobbly start, answer all of the questions tactfully which are put to them by the dragons at the Dragons’ Den and post that one or more dragons at the Dragons’ Den make an offer to the participant. It’s up to the participant post this to negotiate with the dragons at the Dragons’ Den for the best offer and the participant can chose to work with one or more dragons at the Dragons’ Den.

The dragons at the Dragons’ Den sometimes demand for a higher share in the equity than what the entrepreneur is wiling to offer and thus there’s no deal achieved.

The significant reason for Dragons’ Den success could be because the program is very interesting, educational and brimming with drama and emotions, capturing the real essence of exactly where our economy today is moving towards.

Many people today want to leave their jobs or are tired of their typical monotonous work life, so they decide to quit their regular jobs and decide to make something of themselves on their own, by starting their own business. The significant reason that people want to start up their very own business is the potency for earning higher and better rewards. It’s generally impossible for a common man to earn any extraordinary amount of money while working in a regular job.

The concept of Dragons’ Den is so popular is because entrepreneurialism is actually barely ever taught in school properly and Dragons’ Den compensates for this and with the expert and knowledgeable panel of dragons at the Dragons’ Den, it cannot get any better for the participants.