Dragons' Den
Dragons' Den is a hugely successful TV Programme where Entrepreneurs pitch their business ideas to a panel of five investors known as "the Dragons". The Entrepreneurs who enter "the Den" are seeking investment and expertise from the Dragons. In return, they must be willing to offer the Dragons a percentage of their company.
The rules of the Den include:
- At the beginning of the show the Entrepreneurs must state clearly the amount of money they are seeking to secure.
- They may receive offers of money from one Dragon or a combination of Dragons; but they must get all the money they asked for at the outset or they will leave the Den with nothing.
- The Dragons have no advance information on either the Entrepreneur or the business idea.
- Once the pitch has been made, the Dragons are free to question the Entrepreneur on all aspects of the business including the product or service, target market, competitors and sales and profit projections.
- If interested in investing, the Dragons try to negotiate the highest percentage that the Entrepreneur is prepared to part with.
The question that most people ask is; is it the Dragons' own money that they invest. The answer is absolutely 'Yes'.
I thoroughly enjoyed working with my fellow Dragons' - Gavin Duffy, Niall O'Farrell, Sarah Newman and Bobby Kerr. These are some of Ireland's most respected and successful business people.
I would like to acknowledge
Shinawil Productions for their vision and determination in creating such a top-quality show, as well as
Bank of Ireland for being the sponsors without whom the programme could never have been made, and of course
RTE for broadcasting the show. Finally, I would like to acknowledge the courage and initiative of the many entrepreneurs who came forward to take part and pitch their business ideas to us.
If you are about to pitch to potential investors, have a look at
my tips from the Den, or if you are interested in
seeking investment from me for your business idea, please contact me.