Significance of the Dragons’ Den Egg Cooker:
The Dragons’ Den Egg Cooker is a really good example of how a small idea can change a person’s life. The Dragons’ Den Egg Cooker was invented by James Seddon. He used to find boiling eggs very hard and could never make eggs properly for his daughter. Thus, he took the initiative and created Eggxactly. The Dragons’ Den Egg Cooker, Eggxactly, is an equipment which is water free, and can cook an egg perfectly. This uses a soft heating arrangement that stretches. A microprocessor determines the time required to cook the eggs properly. Though the shape of this cooker is not that attractive, it is definitely very effective.
Know about the Dragons’ Den Egg Cooker:
The Dragons’ Den Egg Cooker was pitched by James in the first episode of the third season of BBC2’s TV show Dragons’ Den. The Dragons’ Den Egg Cooker episode is one of the most memorable episodes and the business really flew after this. James had participated in the show looking for 75000 Pounds in exchange of 10% equity. He had already created a prototype and had visited 4 big companies who were interested in the project. It was estimated that his egg cooker had the prospects of creating a turnover of 1 million Pounds within 1 year and 7 million Pounds within 7 years. This was highly impressive and thanks to the platform provided by Dragons’ Den Egg Cooker went on to become a really big hit.
Get inspired by the Dragons’ Den Egg Cooker story:
Dragons’ Den Egg Cooker is just one example of the numerous opportunities provided by the amazing TV show, Dragons’ Den. This show originates from Japan and has been adapted in several countries. It was adapted in the UK in 2005 and became a huge success. The best thing about this show is that it opens up a lot of doors for common people. There are a lot of people who have really unique and creative business ideas. Their ideas can be service based or product based. These ideas can turn into huge businesses, just like in the case of the Dragons’ Den Egg Cooker. If you have an idea that you believe in, you should definitely go for it.
James Seddon and the Dragons’ Den Egg Cooker:
The Dragons’ Den Egg Cooker has paved the way for countless other entrepreneurs. In the show Dragons’ Den Egg Cooker impressed everyone and went on to become a big business. The concept of the show is really cool and its main purpose is to provide finances to new companies and start up ventures. Different entrepreneurs come to the show with their products and ideas. They are shortlisted and the best of them are allowed to pitch their business to the Dragons. The dragons are 5 really big shot investors who can provide finances in exchange of private equity. The participants have to give presentations to these investors and if they are impressed, they can get their own Dragons’ Den Egg Cooker story. James Seddon took the world by storm by introducing Eggxactly in this show. You can take part in this show and can pitch your business concept too.
Things to learn from the Dragons’ Den Egg Cooker episode:
In order to take part, you should prepare yourself as well as possible. You are surely going to be grilled by the 5 investors and the better answers you have, the more impressed the investors will be. In the Dragons’ Den Egg Cooker episode, James was questioned on each and every aspect of his business before being accepted. The presentations given by the participants are a really big factor. If you give a very impressive, smart and interesting presentation while pitching your idea, you will definitely earn brownie points from the investors. If you are clue less about the prospects of pitch and cannot give a proper presentation, your idea will not make much of an impression.
How did James Seddon get finance for the Dragons’ Den Egg Cooker?
In the Dragons’ Den Egg Cooker episode, James Seddon gave a really intelligent presentation. He started with talking about the importance of eggs and hoe great it is for breakfast. Then, he focused on how difficult it is to just boil an egg properly. He notified that it takes around 15 minutes to cook an egg properly. He also established that the whole process is very irritating and involves a lot of hard work. Then he introduced Eggxactly, his water free electrical egg cooker. The high point of the Dragons’ Den Egg Cooker episode was this pitch. Though the product did not look very good, it sure delivered what it promised. It was extremely easy to use and was completely hassles free. The problem was that the demonstration of this cooker failed on the show. On the Dragons’ Den Egg Cooker was tried two times, but, both the times, the processes failed. Three of the five investors backed out after this, but, Peter Jones and Richard Farleigh were still impressed and bought 20% equity each in exchange of £37,500.
Be the next Dragons’ Den Egg Cooker story:
The fact that the Dragons’ Den Egg Cooker got accepted establishes the fact that a simple idea can take you a long way. The Dragons’ Den Egg Cooker idea had been appreciated by trade analysts and the entrepreneur in question had already done adequate market research before going to the show. The market reports backed him up in a huge way. The projections stated that the business would surely reap huge profits. This factor impressed the investors and in spite of the fact that the demonstrations of the prototype failed, the dragons did invest a lot of money. Thus, it is very important for you to do a lot of market research and understand the exact potential of your idea. Your business can be the next Dragons’ Den Egg Cooker story. You should get your idea patented and should consult a few other companies and analysts before going to the show. This will be helpful in convincing the investors.