X FACTOR meets the Apprentice! (Dragon's Den)

Member Name: excelsior81

Product:	Dragon's Den
Date:	14/08/09 (52 review reads)
Rating:

Advantages: Seeing genuine people succeed with good ideas...

Disadvantages: Where do they get some of the ideas!

Earlier this week I went to stay with my sister and her family and as always I enjoyed spending quality time with my nephew who is two. Whilst I was there I purchased a new suitcase, one of those suitable for use as hand luggage and my nephew, being the little boy that he is...decided that he needed to ride on it!

When I was wheeling him along, I came up with an idea for a chair that could fit onto this suitcase, which would enable parents to sit their toddlers on it safely, yet not add too much additional weight (I should point out at this stage that if you think you can steal my idea...think again, a dear friend of mine is a patent attorney and I will sue you should you try to take my idea!!!). My family thought it was a great idea and one that would be popular...the next words out of my brother in laws mouth were 'you should get that on Dragon's Den!'

Dragon's Den is in my opinion, X Factor for the business opportunist or idealist.

The format is very simple, you have a product or idea that you aim to sell to 'The Dragons' - a collective of successful British Business People and if they like it they will invest in it, but you have to make at least what you have asked for to get the cash (which sits in piles by their chairs teasing you!).

Quite often, people come into the show and ask for a hundred thousand pounds for ten percent of the business...and leave with their hundred thousand, but with fifty percent of their business sold as an example. The dragons dont part with their hard earned cash easily!

There is always a huge array of people asking for money and financial backing from the dragons and as a result of watching the show for some time I can safely say that every potential candidate should consider the following points before applying for the show:

1) Know your product inside and out - The dragons are not swayed by fancy...unless it actually works (those of you who are fans will remember the egg cooker!) you need to be prepared to answer all kinds of questions about it, they will probe you!

2) Don't make up sales figures or orders. They check (clearly before the programme too) and will ask you abut so called orders for equipment.

3) If you have a miilion pound turn over - know exactly why you want their help - flattery will get you somewhere!

4) Understand that just because your mum and dad/aunty Joyce and your neighbours dog think the product is a good idea, this does not necessarily mean that the public will but it (another classic was the computer screen monitor that you could watch when riding an exercise bike - who wants to do that!?!)

5) Be prepared to fight for what you want, Start high and know what you can realistically accept as an offer, should you be successful in the den.

6) Make sure your presentatoin is snappy - don't try and dazzle them too much...at the end of the day it is the product that theu are interested in (although standing up in front of them sweating and looking nervous is not going to inspire confidence).

The prgramme has had some notable success over the past few years. There is the stand by plug adaptor, which turns products off when left on stand by, thus saving the planet and of course Reggae Reggae sauce...Levi Roots' creation (If you can find out his real name, you get ten bonus points!) which is now selling in Sainsbury's and in many take aways and restaurants.

Dragon's Den is more than an opportunity for a mad inventor to come on and sell their idea, it is a genuine opportunity (albeit hard fought) for those with good ideas to sell them and get financial backing that coul din turn make everyone involved lots of money.

If you have not watched this show and fancy your reality television a little more high brow...then do give it a go!

Summary: Worth going through if yo ucan get the investment