Dragon's Den UK

[Telejazzer]

I've been watching bits and pieces. Hadn't been aware of it till some weeks ago. It's funny how most of the people presenting their ideas are mostly unprepared specially with the numbers side of things.

One of the few shows I watch from time to time nowadays.

Anybody else watch it?

 

[luckyone]

Nope, on paytv so it ain't going to happen. Won't get me paying for tele anytime soon.

 

[lizzie]

There was a Dragon's Den Australia years ago. Loved it. Some really talented ideas - and some hopeless ones too.

Pity it didn't rate well and was canned. Story of my life - the shows I really enjoy rarely rate well. Obviously I'm not a "lowest common denominator" demographic ...

 

[Jamie M]

I've been watching bits and pieces. Hadn't been aware of it till some weeks ago. It's funny how most of the people presenting their ideas are mostly unprepared specially with the numbers side of things.

One of the few shows I watch from time to time nowadays.

Anybody else watch it?

It was on weekly when I lived in the UK. I loved watching it - although some of the dragons are a tad irritating.

You're right about the numbers side of things.....and don't plan on going into the den without a patent.

Cheers

Jamie

 

[mattnz]

What time and channel? I have foxtel, but havent noticed it.

 

[Telejazzer]

My apologies, I didn't realise the show wasn't available (I don't have foxtel) in Australia. The series are recordings given by a friend consists of 8 series which I didn't even realise exist until some weeks ago.

Don't really watch much TV apart from shows like this or documentaries (business, economics, property, finance, etc.) which I normally watch online.

If you can get your hands on the series, it's worth the watch I reckon. One of the recent dragon is an Aussie Richard Farleigh I think.

 

[lizzie]

Caught by accident tonight - on ABC2 (I think) at 7pm.

Loved it. The arrogance of some people who go in thinking the investors (dragons) "owe them" and should fall overthemselves to give away money ... or that their brilliant idea is going to make them $6milion overnight ... or greed to hang onto an extra 5% in exchange for the money and knowledge that comes with the investors ... or have an idea for a service/product but no idea of business.

The only guy to get invested in tonight was a really good idea, and concepted out to full production stage with placement contracts for 300 sites (vending machine product). He was brilliant - and eventually prepared to give away more equity than he wanted to, to get the experience and money on board.

Asides from a brilliant idea - the moral of that story was to let in those who have the ability to take your business to the next level - and better to own 60% of a multimillion dollar business, than miss out by wanting 70% and owning 100% of merely an idea.

 

[wylie]

Sounds like the umbrella vending machine in the London subways Lizzie? I watch this show and really enjoy it.

I love it when some smart alec thinks they know better than the dragons and question them .

Recently I caught the shows, each one profiling one dragon and how they made their millions. Duncan Bannatyne particularly had an interesting life, dishonourably discharged from the navy after trying to throw his senior officer overboard, went to prison (twice?)... got out with nothing and knew he could either end up in prison or make good.

Bought an ice-cream van... and the rest, as they say, is history.

Fascinating show, fascinating dragons.

 

[lizzie]

Yep - the umbrella vending machine at the subway station outlets. So simple but so logical in a place like London.

Most of the others had no clue - like the two fashion girls who ended up in tears but if their product was worth it they could've open a shop "anywhere" in Glasgow (?) and the clients would've come, or the two blokes that looked like badly dressed thugs with the stoller thing that was going to be worth $600mil within 3 years, or that guy trying to sell the festival - he was just smarmy, arrogant and rude!

 

[Andrew_A]

Was Richard Farleigh one of the panel on these episodes?

 

[lizzie]

No - it's the 2008+ panel

 

[Aaron Sice]

Caught by accident tonight - on ABC2 (I think) at 7pm.

Loved it. The arrogance of some people who go in thinking the investors (dragons) "owe them" and should fall overthemselves to give away money ... or that their brilliant idea is going to make them $6milion overnight ... or greed to hang onto an extra 5% in exchange for the money and knowledge that comes with the investors ... or have an idea for a service/product but no idea of business.

The only guy to get invested in tonight was a really good idea, and concepted out to full production stage with placement contracts for 300 sites (vending machine product). He was brilliant - and eventually prepared to give away more equity than he wanted to, to get the experience and money on board.

Asides from a brilliant idea - the moral of that story was to let in those who have the ability to take your business to the next level - and better to own 60% of a multimillion dollar business, than miss out by wanting 70% and owning 100% of merely an idea.

i saw that - i was yelling at him to reneg for 40% and take it!

i swear , some people..... like those jokers with the pram rocker thingo. awesome idea, would sell well, but they weren't marketers and went home over 5%. worth it? no. they'll lament that for the rest of their lives. 50% of something is better than 100% of nothing.

the chick that got aggro over her fashion business idea - i agree, it's not scalable because it really relies on her talent. remove her and the business was just another "mango" or "industrie".

 

[Graemsay]

I get the impression that the Dragons are sometimes greedy themselves, and will try to take an overly large stake in the business for what is being invested. And there was a case when the investment turned out to be a loan with rather onerous conditions. (See here and here.)

OK, some of the details in that story sound like a naive business owner being given a rotten contract by more experienced operators...

There have been a few cases where people rejected funding and made their fortunes without the Dragons. So it is possible.

 

[lizzie]

True - but the dragons aren't in it for love either. They want to make money.

I believe if something is worthwhile, and the passion stays alive, it will succeed regardless ... but some do need that help to get to the next level.

I really loved "Next Big Thing" and can't wait for the next series - hope they have a next series

 

[Bird Dog]

The jokers with the pram rocker had me shaking my head in disbelief.

For a start they sent in the wrong guy who couldn't even stutter a complete sentence and then when they realised the idea had some leg's in the eyes of the dragon's, they took this as a win and then proceeded to talk themselves out of a small fortune.
Reminded me of a book I'm reading "Confessions of a Real Estate Entrepreneur" by Jim Randel where he quotes never to issue the deal is done even when you're 99.9% there as without that last .01% you have nothing!

And the assumption that the business was going to be worth $600Mil (pounds mind you) had me LMAO....

Great show and like others, I really got into the Australian version a few years ago but it wasn't to be so this will be high on the list next week.

 

[Andrew_A]

No - it's the 2008+ panel

Ok, heard good things about the show but haven't been able to watch yet.

 

[lizzie]

Interesting last night - and was interested to see how Tracey Grails went with her "made to measure" suits, especially with the backing of such a high profile female - who I would have asked, as part of the deal, to become the face of the company.

Great concept ... down the drain within 12 months:

http://www.telegraph.co.uk/news/ukn...-fire-as-Dragon-firm-goes-down-the-drain.html

However, the website is still up and fully functioning - so I wonder if she picked herself up from her illness and doggedly continued on.

Was surprised to read that Red Letter Day went under so quickly.

Wonder how the personal helicopter thing went?

 

[lizzie]

Watching the new series online (okay - prob a few years old from the UK).

Love pausing and seeing if financed products get off the ground ... such as youdodolls ... go girl!