Would you take the risk? (Dragon's Den)

Member Name: kate2009

Product:	Dragon's Den
Date:	16/06/09 (163 review reads)
Rating:

Advantages: An addictive business version of the X Factor!

Disadvantages: You may not always agree with the panel

The Dragon's Den is a television show which airs on BBC 2.

**Format**

The programme is based on a 'reality TV' format. Each episode sees budding
entrepreneurs making a pitch in respect of their products / inventions and ideas to a panel of 5 rich and successful businessmen and women. The aim of each candadite is to try and convince one or more of the panel to invest in their product(s). This usually involves a request for a relatively large amount of money in return for one or more of the panel having a percentage of their business and / or a return on profits made.

What makes this show unique and interesting is the range of entrepreneurial ideas. These have ranged from sculpture making and design, pizza warmers, stick on whiteboards and devices to stop gravestones from falling over! hmmm....clearly a winner.

Each candidate must present a clever pitch in order to generate the interest of the panel 'Dragons,' and this is where most become unstuck. There are some hilarious pitches, whereby many get to show off their often appalling and completely unprepared introductions to their products and ideas. Some become so nervous that they can't speak or appear to loose any previous level of intellegence. Granted, the Dragon's may seem a little intimidating, but if you're going to ask for £100,000, it's probably a good idea to remember what product you are endorsing. Then you have the egotistical fools who are convinced that their ridiculous product is going to change the world. Er, sorry - no. This is soon put into perspective by the Dragons. I always feel sorry for those people who have put 20 years into developing and promoting a product, only to be told by the panel that it is quite frankly, pants, and that they should stick to the day job.

**Who are the panel?**

The usual panel consists of four business men and one business woman, all who have a wealth of experience in different areas such as property, leisure, music and finance. The five Dragons are James Caan, Deborah Meaden, Theo Paphitis, Duncan Bannatyne, and Peter Jones.

More information on the panel member's history and business dealings can be found on the BBC website (see below).

**Success stories?**

Many of those who have secured an investment from the Dragons have successfully used their expertise and finance to market and promote their products. Take Raymond Smith's 'pizza cooker' - a seemingly pointless invention, coupled with the worst pitch EVER dared to be presented in front of the Dragon's. Poor Raymond was ripped to pieces but yet he choose to be quiet and humble, and at the very last moment, two of the panel members decided to offer him a joint deal. Now his pizza cooker is retailing in several stores and online. Although whether the success of this product is down to the product or publicity of the programme is difficult to establish...

There are rules attached to the programme in that the candidates must be able to get at least the minimum amount of money they ask for from the Dragon's, or they walk away with nothing! This tends to give the Dragon's more power - and often the poor candidate will have little choice to agree to give away more equity of their product / company than originally intended, if they want the money. However, if the product and pitch is exceptionally good - then sometimes the Dragons will try to out do each other by offering better deals. However, usually - in spite of a good pitch, candidates will make a balls up when quizzed in details about their projected finances.

Then you will hear the famous catch phrase from each Dragon ".....and for that reason, I'm out!!"

**Worth Watching?**

Absolutely - this programme can be addictive. It's like a more sophisticated, business version of the X Factor, although normally without the singing! If you are a budding entrepreneur yourself you might get some tips - it certainly drums home the fact that you need more than a good idea to be successful - you need sound marketing and financial skills too.

You can watch the programme on BBC 2 AT 9am on Monday or repeated at 7pm on Tuesday.

I recommend that you check out the BBC website for more information. Here you can watch repeats online, find out more about the candidates and Dragon's, and most interestingly, find out what happened to those poor people who were turned down or refused offers. Did they make a success or a failure of their ideas? Find out here:

www.bbc.co.uk/dragonsden/

In summary - an interesting, thought provoking programme.

Summary: Thought provoking and addictive