In Dragon's Den, entrepreneurs get a chance to pitch their idea to five "Dragons". The "Dragons" are already successful business people that are looking to invest their funds in return for a share of the business and future profits.
In the UK, the programme is shown on the BBC and presented by an economist - Evan Davies. I like the way he introduces the show and his chats with the entrepreneurs after their meeting with the Dragons are very entertaining.
The programme has been hugely successful since it was first shown in 2005. Initially the presenters were Peter Jones, Duncan Bannatyne, Simon Woodroffe, Rachel Elnaugh & Doug Richard. Theo Paphitis took over from Simon Woodruff after series 1. Deborah Meaden took over from Rachel Elnaugh after series 2 had finished. Richard Farleigh replaced Doug Richard in series 3 & 4 and then he was replaced by James Caan.
The current presenters are Peter Jones, Duncan Bannatyne, Theo Paphitis, Deborah Meaden & James Caan. My favourite is Peter closely followed by Duncan and then James.
The format of the programme is that entrepreneurs will stand in front of the 5 Dragons, and present an idea and ask for a specific sum of money in return for a percentage stake in the business. The Dragons will then quiz them and if they like the idea, will make an offer.
Usually what happens is that:
a) The flaws in the idea or business concept is quickly revealed and then discarded
b) The person presenting the idea has little or no knowledge about how a business should be run and is sent home
c) The presentation is good but the idea fails further quizzing
d) The character of the presenter is deemed to be unsound and therefore, irrespective of how good the idea is the Dragons refuse to invest
However, every so often, somebody makes a decent presentation, usually after a shaky start, answers all the questions properly and then either one or more Dragons make an offer. It is then up to the entrepreneur to negotiate the best deal and chose one or more Dragons that (s)he wants to work with.
Sometimes the Dragons demand a higher share then the presenter is willing to give and no deal is done. I have always wondered if they get a second chance away from the limelight to negotiate further.
I believe that the main reason for the success of the programme is that it is highly educational, interesting, full of drama and captures the essence of where the economy is heading.
Many people are either being made redundant or choosing to leave their job and deciding to start their own business. The main reason for starting their own business is the potential for higher rewards. It is almost impossible for "normal" people to make an extraordinary sum of money whilst in employment.
I try and watch the show with my children as I feel that entrepreneurialism is hardly ever taught properly in school and this programme makes up for this. We have learned a lot from the show and the children now have basic knowledge of how to evaluate a business idea and protect it! I highly recommend this show to you.
In the UK, the programme is shown on the BBC and presented by an economist - Evan Davies. I like the way he introduces the show and his chats with the entrepreneurs after their meeting with the Dragons are very entertaining.
The programme has been hugely successful since it was first shown in 2005. Initially the presenters were Peter Jones, Duncan Bannatyne, Simon Woodroffe, Rachel Elnaugh & Doug Richard. Theo Paphitis took over from Simon Woodruff after series 1. Deborah Meaden took over from Rachel Elnaugh after series 2 had finished. Richard Farleigh replaced Doug Richard in series 3 & 4 and then he was replaced by James Caan.
The current presenters are Peter Jones, Duncan Bannatyne, Theo Paphitis, Deborah Meaden & James Caan. My favourite is Peter closely followed by Duncan and then James.
The format of the programme is that entrepreneurs will stand in front of the 5 Dragons, and present an idea and ask for a specific sum of money in return for a percentage stake in the business. The Dragons will then quiz them and if they like the idea, will make an offer.
Usually what happens is that:
a) The flaws in the idea or business concept is quickly revealed and then discarded
b) The person presenting the idea has little or no knowledge about how a business should be run and is sent home
c) The presentation is good but the idea fails further quizzing
d) The character of the presenter is deemed to be unsound and therefore, irrespective of how good the idea is the Dragons refuse to invest
However, every so often, somebody makes a decent presentation, usually after a shaky start, answers all the questions properly and then either one or more Dragons make an offer. It is then up to the entrepreneur to negotiate the best deal and chose one or more Dragons that (s)he wants to work with.
Sometimes the Dragons demand a higher share then the presenter is willing to give and no deal is done. I have always wondered if they get a second chance away from the limelight to negotiate further.
I believe that the main reason for the success of the programme is that it is highly educational, interesting, full of drama and captures the essence of where the economy is heading.
Many people are either being made redundant or choosing to leave their job and deciding to start their own business. The main reason for starting their own business is the potential for higher rewards. It is almost impossible for "normal" people to make an extraordinary sum of money whilst in employment.
I try and watch the show with my children as I feel that entrepreneurialism is hardly ever taught properly in school and this programme makes up for this. We have learned a lot from the show and the children now have basic knowledge of how to evaluate a business idea and protect it! I highly recommend this show to you.
Naz Daud is the founder of CityLocal. This Franchise Opportunity is for people who would like to work from home and be their own boss.
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