What would u ask if u were a dragon?

[wanting2learn]

Hi there,

I have a business idea (dont want to say just now what it is).
I am going in front of a "dragons den" style panel of judges next week as part of my local councils "enterprise week". The prize is £2K and a business mentor for a year.

If you were on that panel, what questions would you ask?
( I know i didnt say what my business is but there must be general answers an investor needs to know)

Thanks a lot

 

[maxine]

If I could only ask one question it would be "How much money have you actually put in yourself"

 

[Moneyman]

I am a dragon and if you want to be quized pm me and you can do a down the phone pitch to me. i might even invest.

I have two new projects on the go this month and i have a horrid feeling another one or two before christmas.

 

[DanMartin]

These videos from The Pitch 2009, the competition organised by BusinessZone.co.uk and UK Business Forums, might be useful. Watch them here.

 

[An Oasis]

"What would u ask if u were a dragon?"

Where's the water?!

 

[KidsBeeHappy]

It's got to be James favourite question; and what makes your untrading unpatented business worth £2m?

 

[Hillyer]

Hi,

I would ask (as all the dragons appear to ask if they are not told in the pitch):
- How many have you sold already,
- Have you got any orders at present,
- What are your predictions for the next x months (3, 6, 12, 18),
- Do you pay yourself,
- Have you invested anything yourself,

Can't think of anything else.

Good luck with your presentation/pitch!

 

[iArtist]

Check out some of the links here

what to include in a business plan

Generally Dragons ask question's your bank manager would expect to see in a business plan

and for a quick guide

What investors look for in an investment

"an investor looks for a business that has potential for growth. Growth means profit, and it's the only way that they'll consider investing. .........

They'll also be looking for entrepreneurs who can see where their business is going and who have the ability to take it there. Make sure you have a sound business understanding.........

Investors need to see a clear exit strategy for them to reap their reward."


7 tips to getting an investment

Tips summary from source:

• Make sure that your business is viable.
• Your business needs to have the potential for growth.
• Your business plan has to stand out.
• Have a clear understanding of where your business will be in 3, 5 and even 10 years' time.
• Make sure that you understand the figures.
• Know what you'll use the investment for.

Good luck

Leah

 

[Beachcomber]

Why should I invest 2K of my childrens inheritance.................

 

[Lasting Designs]

What the hell am I doing here?
How can I afford it? :|
I can afford it ! - bugger this, I'm off on a spending spree.

 

[cjd]

Investors invest in the person, the idea has to be good and the business model believable but in the end you invest in the guy not the business; you have to believe in the person making the pitch because no matter how good the business it will only work if the guy can make it work.

So you have to be the living expert on everything to do with your project and be capable of answering every question possible on it, whether you've heard it before or not.

I don't watch Dragon's Den, can't stand the self-serving, PR loving, patronising so-called Dragons, I'm embarrassed for the punters and dislike the image that it presents of the investment industry - but at least business is on TV and I suppose I have to be grateful for that.

The biggest mistake people make is not knowing their numbers - not being able to talk about unit costs, projected income and profit and realistically estimate their value demonstrates that they are not clued up enough for what they are attempting to do.

 

[Moneyman]

How do I get any money?

Too many people want guys like me to fund a great little one/two man business. They will amke a nice £50k eavch and have a good life in something that interests them. What they seem to miss is that guys like me need to get our money back and make a profit. while they are having a great time mucking about we have 30% of very little profit and our cash tied up. I have had plenty of people accidently saying that they dont want to expand. As so often on the program we are not in it to fund someones job. we want either profit or a bit of fun ourselves.

 

[whitej_d]

Having been once a naive start-up entrepreneur, and now being a slightly less naive, battle scarred entrepreneur, I only want to know 2 things:

1. How are you going to sell it?

2. How do you know that the method in 1. works?

If you can provide satisfactory answers, and there's a healthy profit margin, (and I had some money) I'd be in!