I got selected to pitch on the Dragon's Den

[chathamf]

You mentioned that it'd it's a side business for you. Make sure you express that if/when the company takes off that you will make it your job and not just something you do on the side. They always worry about dedication and when you also have a full time job they struggle to see how you can be so dedicated. Good luck! Looking forward to seeing you on there.

[Mar]

Originally posted by Mitsu3000gt
The dragons want to buy into an existing thing, not a "maybe".

Assuming you can avoid those 2 things, you will be ahead of 90% of the people who I see on that show.

It blows my mind people still go on that show with zero sales or crazy valuations - have they never seen an episode?? They get torn to shreds and asked to leave haha.

One of the largest investments ever was just an idea. Some guy walked in with a photo of a farm and sold an idea of a winery for (I think) $2,000,000.

Also I would suggest buying their books, I read Robert's book 'Driven' and it was a huge eye opener. He went into potentially one of the highest grossing deals he's done with a couple of kids making a website for job applicants and explained how they all got together to sign the deal afterwards and their business partner caused Robert to tear up the cheque and kick them out.

I also have Brett Wilson's which I have yet to read and I know Arlene and Kevin have books as well.

[RX_EVOLV]

Congrats. I think that's great exposure regardless of the outcome.

I know the guy that used to screen companies for DD and he told me that they assign each applicant 2 set of scores. One for how viable their business is, or said another way, how likely they will get Dragon investment. Second is for how entertaining the story is. Say you are a 10 for business and 1 for entertaining, they will offer you a chance to present. IF you are a 1 for business but 10 for entertaiining, they will also offer you a chance to present, but will warn you that your chance of getting investment is slim. He said for all the years that he worked with DD, not a single person has turned down the chance to present even if they are a 1 for business, because the exposure itself is worth. That's why you also see so many crappy pitch/business ideas on the show ( especially those hippy stuff).

So beside all the obvious stuff like knowing your business and your numbers, and that your valuation is within reasons etc... make sure you make your pitch as entertaining as possible, so that you will make it to the final show. Maybe ask each Dragon to hold a reptile or something.. .. Im sure Arlene freaking out over a snake can be hugely entertaining

[cornelius85]

Originally posted by Ven
I think you stand a good chance to get on the air, but not because it's an attractive or even viable business prospect; outside a home based or limited market interest. You'll get in because it'll provide a show. You'll show up with a dragon, you'll put a spider on Arlene, a snake on Mr. Wonderful, and presto you've got a show with stereotyped animals that elicit reaction, a pile of ready made out takes and cut scenes, and some great promo and flashback material.

Just go in there and say, "I want all this fuckin shit produced in China and available by custom order on a kickass website. I'll give you 51% of the company for a large double double and a kick to Kevin's balls, you just make sure the cheques keep coming. Figure it out amongst yourselves." Then kneel down, spread out your arms, and holler " To me creatures of the night!" TV gold brother.

Great post!. I just about spit all over my computer reading it. I realize it will mostly be for the show in terms of getting on the show. Whether I get a deal or not I am sure the exposure will be hugely beneficial and that is what I am banking on.

Greg

[cornelius85]

Originally posted by chathamf
You mentioned that it'd it's a side business for you. Make sure you express that if/when the company takes off that you will make it your job and not just something you do on the side. They always worry about dedication and when you also have a full time job they struggle to see how you can be so dedicated. Good luck! Looking forward to seeing you on there.

Yes I have seen many people ripped for this aspect alone. Right now my side business is at the point where to get bigger I need to make a decision whether to stay at my full time job or getting bigger with the caging. It isn't an easy decision to make given a family to support etc. That is also why I want to appear on the show. If I were to get a deal it would make the decision much easier.

[drtoohotty1]

A buddy of mine was just on that show a couple of months ago pm me and I can get you in touch with him if you want to talk behind the scenes stuff

[cornelius85]

Originally posted by speedog
Maybe give the owner of Alberta Reptile Parties a call (maybe you already know him) as he's been in the reptile business for a number of years. He is in contact with numerous people, both reptile owners and non-possibly future reptile owners, through his business and could be a wealth of information. He also was the past president of TARAS (The Alberta Reptile and Amphibian Society) - because of his contacts with people who are new to the reptile world and people who have been around, he's quite knowledgeable on the particular subject matter you'll be speaking to.

Thanks for the reply. I am actually the person that Jason took over for as President of TARAS and have been involved with doing the caging for probably 14 years now. I incorporated 3 years ago when prodded by my family of the risks of having a sole proprietorship as well as the tax advantages. I am well aware of the market aside from a value of reptile sales nation wide given that most of the sales are backyard breeders/suppliers. If I were to guess at a value of sales in Canada I would probably put it in the 250-500 Million. Unfortunately I am unsure how I would prove that or even get a more concise value. I know the main store in Calgary for Reptile only sales and their sales are around a million annually. While it is a small target market there is huge growth potential within it for my business, and thus why I am hoping to get a deal with them.

[botox]

Originally posted by Mar
One of the largest investments ever was just an idea. Some guy walked in with a photo of a farm and sold an idea of a winery for (I think) $2,000,000.

Also I would suggest buying their books, I read Robert's book 'Driven' and it was a huge eye opener. He went into potentially one of the highest grossing deals he's done with a couple of kids making a website for job applicants and explained how they all got together to sign the deal afterwards and their business partner caused Robert to tear up the cheque and kick them out.

I also have Brett Wilson's which I have yet to read and I know Arlene and Kevin have books as well.

I watched that episode, that guy was their professor and basically said the dragons were stealing their business with the offer they gave which was by the way accepted by the guys who pitched the business. Dude thought he was smarter than the dragons and was asking stupid things like if any of them had a business degree.

Anyhow, like the others stated, make sure your valuation is correct and you have the sales to prove it and not "potential" sales. Some of the pitches they let through are purely for tv ratings and the businesses would never fly so hopefully your's isn't one of them.

Do you know when your episode will air?

[cornelius85]

Originally posted by Mar
One of the largest investments ever was just an idea. Some guy walked in with a photo of a farm and sold an idea of a winery for (I think) $2,000,000.

Also I would suggest buying their books, I read Robert's book 'Driven' and it was a huge eye opener. He went into potentially one of the highest grossing deals he's done with a couple of kids making a website for job applicants and explained how they all got together to sign the deal afterwards and their business partner caused Robert to tear up the cheque and kick them out.

I also have Brett Wilson's which I have yet to read and I know Arlene and Kevin have books as well.

I saw that episode. It was their teacher who became their business advisor. He did screw the deal for them being too greedy. I can't imagine those guys watching their dreams fall to pieces at the cheque signing because of their "Advisor".

[cornelius85]

Originally posted by botox

I watched that episode, that guy was their professor and basically said the dragons were stealing their business with the offer they gave which was by the way accepted by the guys who pitched the business. Dude thought he was smarter than the dragons and was asking stupid things like if any of them had a business degree.

Anyhow, like the others stated, make sure your valuation is correct and you have the sales to prove it and not "potential" sales. Some of the pitches they let through are purely for tv ratings and the businesses would never fly so hopefully your's isn't one of them.

Do you know when your episode will air?

I would like to think I have decent sales and the continue to grow year after year. Last year I was over 250K. I realize the premise for getting on will be the reptiles, but I do have a sound business with potential to grow. A key to that would be getting my own commercial space as well as a CNC router so I wasn't outsourcing that work. It would also give me growth potential by outsourcing the use of the machine to other industries like sign companies, and cabinet makers to add income from the machine by doing cutting for them if I had more time.

Greg

[Disoblige]

I think they'll be pretty happy to hear the 250k in sales and continued growth as long as the margins are decent and you're reasonable with your evaluation.

[Aleks]

Coworker of mine went on a few weeks ago, pitching the ugly xmas sweater business and got a deal. He's a member on beyond or at least he used to be.

[msommers]

The biggest factor Ive seen from that show: know you numbers inside and out.

[microgrinder]

Originally posted by cornelius85
Has anyone on here ever pitched to the Dragons? I am a huge fan of the show and have probably watched all of the episodes, but I am interested in hearing from someone who has actually got on how the day goes, how to better prepare, and any tips I may need to make it a memorable pitch.

I have, and will be pitching again on March 28th. Involve the dragons in the pitch, a lot of what is shown on TV is based around them interacting with each other.

Just based on my own instincts I believe out of the people pitching in Toronto it's about 33% people get 7 min TV spot, 33% get 1 min TV spot, 33% are web exclusives or not shown at all.

Expect a website traffic surge when it airs, have servers ready.

If you want to discuss in more detail or meet up for a beer in Toronto PM me. (we won't be there until March 26th or 27th so we might miss you)

[microgrinder]

Originally posted by Aleks
Coworker of mine went on a few weeks ago, pitching the ugly xmas sweater business and got a deal. He's a member on beyond or at least he used to be.

Shot about a year ago actually - "TV Magic"

[Graham_A_M]

Another thing is, Ive seen a lot of good pitches go down in flames, because the proposition is too "small beans" for them, and if its not duplicatable, or anything large scale, without hopes of ever BECOMING large scale, as good as your pitch may be, they probably wont be interested in it.

Like rather then doing all the CNC machining work yourself, (which is very slow, and almost immune to large scale growth considering the fact that everything comes down to how fast *YOU* can go,) I'd get quotes and potential contracts with third party companies that can seriously aid in your manufacturing ability. Id have all those quotes & foreward profit margins all worked out and memorized entirely. That way there is no question to growth, or how you'd go about it if they were to ask.... you'd have all your homework done and viable answers waiting for them already... which helps enormously I found. Bungling round about answers that only happen when they ask very to-the-point questions can really kill your momentum fast I've seen in quite a few instances. When that happens, the pitch is pretty much over unless you're the worlds best come back artist. Which most likely isn't the case. If I were you, I have all the answers they could possibly ask, well rehearsed, that way there will be no awkward bungling responses regardless of what they ask/you may say.

You have to be very ready for some serious growth, and I can assure you the Dragon's wont be the least bit interested in such a small scale operation. If what you make can be instantly put into a very scalable production, then and pretty much, only then would they be interested. Doing stuff like making signs for other companies and the like? no I have very serious doubts you'll get a single person remotely interested.
That being said? if thats your goal, then I wouldn't even waste your time or theirs by going to the show.

[Schwa]

Hey I'm Aleks' coworker and microgrinder's business partner. Sounds like he got to this thread before I did.

My advice is to take whatever deal they offer you on TV and tank the due diligence if you have to. The business deal and the TV airing are basically two separate things. You will benefit from the marketing from the airing even if you don't close the deal.

Sounds like you already have sales data which will put you ahead of a lot of the pitches. Also you can't approach the Dragons without prior approval and logos, displays, etc will be gone over with your producer.

[microgrinder]

250k/year revenue is probably in the top 20 percentile of DD pitches, so I wouldnt say that you solely got on due to the reptiles (but it didn't hurt)

Expect to be in front of them for at least 30 minutes, also I suspect that they'll ask why you arent full time with it.

[cornelius85]

Originally posted by microgrinder
250k/year revenue is probably in the top 20 percentile of DD pitches, so I wouldnt say that you solely got on due to the reptiles (but it didn't hurt)

Expect to be in front of them for at least 30 minutes, also I suspect that they'll ask why you arent full time with it.

Thanks for the comments guys. It definitely helps me prepare. I am sure they will ask why I am not doing it full time. I'm basically at the point now where I will soon have to make that decision, and thus why I am coming to the Den to possibly get their help. We will see what happens. Good luck to you guys as well.

[cancer man]

Originally posted by D'z Nutz
And if all else fails and you start to get desperate, change your game plan and suggest reptiles are a good alternative meat source for Boston Pizza's haha

I'd pay 30 bucks for a lizard hotdog.
20 years ago i paid 15.00 for rattlesnake.