Dragons' Den is a joke

[busowner987]

The people on Dragons' Den pitching a 'business' amaze me. I understand it's TV entertainment etc, but it makes me cringe how many people out there really believe they have a 'business'

I would cringe to tell anybody I run my own business unless it was massively successful. We do OK but my OK might be different to your OK.

 

[The Byre]

It's television - reality it am not!

 

[Mr D]

Some of them may well work out. A lot fail on the due diligence.

I don't mind admitting I have my own business. Maybe it will be massively successful, maybe it won't. But its enjoyable.

 

[Mark T Jones]

It’s light entertainment and very, very heavily edited but there are some good, consistent business messages in there

Key ones being

Know your numbers
It’s not about the idea, it’s about the business and the people.

 

[busowner987]

Absolutely and I also run a business - I have also had other businesses that I cut ties with very quickly when its clear that it was not a winning poker hand.

What defines a successful business? Im early 30's and could pay mortgage off today. I own a nice car outright.

Am I successful NO!

 

[fisicx]

What defines a successful business?

What ever you want it to be.

I’m successful because my goal is to do as little work as possible.

 

[busowner987]

Mine is to retire at 40 years old. Then I will do as little as possible

 

[Mr D]

Absolutely and I also run a business - I have also had other businesses that I cut ties with very quickly when its clear that it was not a winning poker hand.

What defines a successful business? Im early 30's and could pay mortgage off today. I own a nice car outright.

Am I successful NO!

Each person defines success their own way.
Someone else's definition of success doesn't matter to them.

The guy who wants to run a little shop and provide an income for himself and leave it to his son may be just as successful as the guy who sets up a business to do 200 billion pounds a year turnover.

Someone may well go through multiple businesses to eventually reach the point they define as success.
Before running Kay's Perfect Pizza there may well be Kay's Great Pizza. And before that Kay's OK Pizza.

 

[Mark T Jones]

As you correctly say, we each have our own version of success which will probably change with age and experience

In my 20s and 30s, If was all about new cars, visibility and ‘stuff’. At 28 I was a co-owner and director if a ‘pretend’ PLC, staff, branches and all that m, had a new car every year and was one of the better known faces in my industry

Now my car is 7 years old my business is just me, working from a bedroom office and virtually unknown in broker circles

I’d see myself now as far more successful despite being invisible.

 

[JEREMY HAWKE]

It is not TV it is real

If you watch all the episodes back to back you will have enough experience to run a large company and @Clinton will bail you out if you have problems

 

[ImranR]

I am aware of a company that had a successful investment from one of the dragons. They never heard from the dragon again and instead their "people" became involved who were more interested in selling other services of that dragons portfolio, e.g. websites, TV adverts and essentially exhausting the initial investment. This was obviously declined and now they are doing a deal to buy out the dragon.

 

[Ian J]

It is not TV it is real

If you watch all the episodes back to back you will have enough experience to run a large company and @Clinton will bail you out if you have problems

We really need a laugh out loud icon on this forum

 

[mekondelta]

I think if you are making good, well branded, organic chutney from the Scilly isles then its a good 10 minute advert on prime time TV. I suspect that those sorts of companies know that they are not likely to hit the big time and that they dont need a dragon.

 

[estwig]

It's in glorious Technicolour, of course it's real!

 

[billybob99]

It's been a joke since it first started, along with The Apprentice.

 

[Financial-Modeller]

Out of curiousity, I would like to know who owns the rights to the programme. Somebody has made a lot of money out of broadcasting it.

I wonder whether one or more of the dragons own it, (presumably as an EIS or similar) or treat is as charitable write-off, but I'm sure Peter Jones et al have better things to do than sit through make-up sessions etc to watch muppets embarrassing themselves on TV, with pitches that will not make it through due diligence.

 

[Paulo1Chop]

Mine is to retire at 40 years old. Then I will do as little as possible

One of the biggest killers in the UK......early retirement!!

 

[alan1302]

Out of curiousity, I would like to know who owns the rights to the programme. Somebody has made a lot of money out of broadcasting it.

I wonder whether one or more of the dragons own it, (presumably as an EIS or similar) or treat is as charitable write-off, but I'm sure Peter Jones et al have better things to do than sit through make-up sessions etc to watch muppets embarrassing themselves on TV, with pitches that will not make it through due diligence.

It's owned by Sony

 

[Mr D]

Out of curiousity, I would like to know who owns the rights to the programme. Somebody has made a lot of money out of broadcasting it.

I wonder whether one or more of the dragons own it, (presumably as an EIS or similar) or treat is as charitable write-off, but I'm sure Peter Jones et al have better things to do than sit through make-up sessions etc to watch muppets embarrassing themselves on TV, with pitches that will not make it through due diligence.

Presumably they also get paid.
How much would you charge per day to be on TV?

 

[The Byre]

Ownership is spread across various territories and rights. The original format is licensed in various packages to Sony, the BBC and others, with Sony owning the international licensing from Nippon TV on a time-limited basis. The BBC licenses DD from Nippon TV directly but Sony licenses to the other 35-or-so territories.

The format is very similar in all territories, though the format bible does not proscribe the format as tightly as other similar shows.

 

[busowner987]

I did watch catchup this morning and the boys doing 14k I think it was in 5 months selling meat. I'm glad he is not looking after my online marketing WOWSA!

They are flat out he said doing average 10 orders a week

 

[Deleted member 315707]

Yeah I saw the shepherd and the "tech guy". LOL when they butchered to order and it took 5 days for delivery.. I mean if they are doing 10 a week why not just pre-emptively butcher so they can dispatch same day.. bonkers..

 

[Lucan Unlordly]

I liked the woman who's company was doing clothing repairs via mail from a unit in Cornwall.
'How much does it cost to repair a pair of trousers?'

'£150!'

 

[KAC]

This was an unsuccessful pitch made to Dragons Den by one of my clients He did enjoy himself though

 

[Martin Patfield]

Thanks for sharing.

Cheered my day up.

 

[Mr D]

Yeah I saw the shepherd and the "tech guy". LOL when they butchered to order and it took 5 days for delivery.. I mean if they are doing 10 a week why not just pre-emptively butcher so they can dispatch same day.. bonkers..

So freezing the meat rather than sending it cold?
Were they advertising frozen meat or fresh meat?

 

[Ian J]

There is a press release doing the rounds stating that Didsbury Gin have agreed a new invoice finance deal.

What it doesn't mention is that Didsbury Gin appeared on Dragon's Den a few months ago and actually managed to gain an investment from Jenny Campbell.

It seems that Jenny would rather use a factoring company's money to fund the growth rather than her own

 

[JEREMY HAWKE]

There is a press release doing the rounds stating that Didsbury Gin have agreed a new invoice finance deal.

What it doesn't mention is that Didsbury Gin appeared on Dragon's Den a few months ago and actually managed to gain an investment from Jenny Campbell.

It seems that Jenny would rather use a factoring company's money to fund the growth rather than her own

You have got it made Ian . Your never short of customers with experts like that imparting their knowledge on new businesses . I would love to know the profit margin on this operation

 

[Chawton]

There is a press release doing the rounds stating that Didsbury Gin have agreed a new invoice finance deal.

What it doesn't mention is that Didsbury Gin appeared on Dragon's Den a few months ago and actually managed to gain an investment from Jenny Campbell.

It seems that Jenny would rather use a factoring company's money to fund the growth rather than her own

As a resident of Didsbury I absolutely cringed when I watched this pitch.

Didsbury has no gin heritage whatever (obviously)
Didsbury has very, very limited cache/cultural capital as Manchester's 'trendy' suburb...yet the gin isn't actually made in Didsbury so that all important 'provenance' was non existent
The taste and/or branding wasn't universally applauded
To top it all off, as far as I could ascertain they didn't really have any sales to speak of

Outcome: 'Investment'

Wtaf?

Nice update, Ian. Does not surprise me in the least!

 

[Ian J]

I see that Jessops the photography shop owned by Peter Jones is about to call in the Administrators as it hasn't made a profit in any of the six years since he bought it.

Dragon heal thyself

 

[The Byre]

Perhaps he didn't get the memo - that The High Street is dead.

 

[Craig3141]

What defines a successful business?

Profit.

 

[The Byre]

Profit.

Not necessarily -

https://www.ukbusinessforums.co.uk/articles/is-the-pursuit-of-equity-a-better-business-model.925/

 

[Mark T Jones]

Profit.

Plenty of profitable businesses go bust...

 

[Root 66 Woodshop]

Profit?

Really... Profit?

OK!

I personally feel that a successful business or even lets say a business man or woman... is one that doesn't feel the need to make a shed load of money, money isn't everything, the ability to provide a service or even product that continues their workflow/income should be more than enough... then again, I could be wrong... but personally, I don't care about money half as much as I probably should do... the way I see it, as long as the bills are paid, I have a roof over my head, food in my belly... and I'm happy... I'm rich enough.

 

[Craig3141]

Not necessarily -

https://www.ukbusinessforums.co.uk/articles/is-the-pursuit-of-equity-a-better-business-model.925/

Well, I'd say the best ones make a profit when they sell the company. If they get aquihired at less then cost to build, I don't count that as successful.

Plenty of profitable businesses go bust...

Sure. All unprofitable businesses either go bust or become profitable though. They were successful until then.

Profit?

Really... Profit?

OK!

I personally feel that a successful business or even lets say a business man or woman... is one that doesn't feel the need to make a shed load of money .

Yes. Really profit quite literally. I agree that there is no need for a shed load of money.
If you have income of £100 and expenses of £99.99. I count that as successful. That's billions less losses than uber.

I know where I would prefer to invest.

 

[Gordon - Commercial Finance]

Success is different for different people.

I see success as being able to take my daughter to school every day and still earning a crust or two.