Excerpts of Richard’s City AM columns. As he has been too busy to continue, these are now all archived here as blog posts
Posted on July 9, 2013 | in Confessions of a Serial Entrepreneur | by Richard
Dragons’ Den is a great TV show. When I appeared as a panelist, it was into its third series so I knew what to expect. It is reality TV, but it’s not people doing stupid and unreal things, it’s people doing business. And it has brought a lot of concepts into people’s living rooms – like first mover advantage, patent protection, business plans and margins. It has also de-mystified to many people the process of assessing a product, gaining investment and launching a business.
The range of viewers is also apparently very impressive – the show attracts all ages, many backgrounds, and both genders. And I thought the panel did a good job of backing potential winners, which isn’t really that easy given that there is no ability to, for example, access market research on the internet, or do reference checks on the contestants, or even to “ask the audience”. I decided to be relaxed with the contestants, which quickly earned me the moniker “Mr Nice”, even though that was fairly easy when compared to the other Dragons. I also decided to try to evaluate every decent idea that was presented to me, and make some sort of offer, even if it was a long way off from what the contestant expected. The BBC liked that, since it enlivened the debates. But of course it meant I got knocked back more frequently, and I was soon jokingly called “Richard the Reject”.
Having said all of that, I do wonder what would happen if Alexander Fleming came on as a contestant. “I’ve been working with growing bacteria on Petri dishes, and some tiny airborn substance, a fungus, blew in from outside and seems to kill the bacteria. Even when I massively dilute the substance, which I am calling penicillin, it still kills it. If there is a way to get the penicillin into the human body, a lot of illnesses could be cured. I need investment, please.”
Then the questions would start. I would obviously see the potential of this and make him an offer! However, true to form, I would be rejected by the polite Sir Alex Fleming. Then Duncan Bannatyne would inquire, “what’s your third year gross margin forecast?” “Err, I don’t know what that is. I’m just a scientist. I thought you investors would be able to help me with things like that.” “That’s ridiculous,” the Scot would say. “You have no understanding of business. I’m oot.”
Theo Paphitis would take over. “Show me one of the Petri dishes”, and he would break it with his hands. “What sort of prototype is this? It’s terrible. I’d rather stick pins in my own eyes than waste my children’s inheritance on this silly idea. I’m out.”
Deborah Meaden would be nice and say, “Well, I’ll invest if someone else invests.”
Finally Peter Jones would have a turn. He’d toss in a cheap pun, before either, “I like the idea but I don’t like the way you are dressed”, or “This is a good idea, Alex, but I’ve got guys who could easily replicate this whole thing in about a week. It’s got no real value. I’m out.”
Perhaps we Dragons are just sometimes too clever to understand a brilliant idea.
By Gerald Thomas
Patiently waiting for your new post Richard. Best wishes
By Are Terjesen
By GarryS
Audrey de Witte
I have never seen the ‘Dragon’s Den’, I don’t think it is on air ‘down under’. However, it sounds fascinating, though I don’t think I would put myself on as a contestant.
I have started my own business this year, but I am selling ‘myself’ and ‘my skills’ (now no rude remarks here, it is not what you think). In January I went to a 2 day conference in Sydney about setting up my kind of business and came away completely disillusioned. I couldn’t run a business like that!
It is a strange thing that I can go out there, and have done so, and drummed up business for other people and found that I am quite good at convincing people to do something, buy a product, or give money. However, when it comes to trying to sell ‘myself’ I struggle. I am not a ‘typical’ business person, but I am trying to make my little enterprise work for me. It is getting there slowly.
August 9, 2013 at 2:56 am
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December 12, 2014 at 9:37 pm
Karin SaundersBala
Richard I love what I’ve seen of this site so far but I came here to “Pitch”. I did email three other Dragons (without revealing my idea) who didn’t even reply. Then I caught the sound of your voice on an old episode and thought “Woo Hoo! This is it!” and here I am.
Cutting to the chase I need to record a tele series first, to unveil the idea to the public. It will appeal to all ages and be fun without being silly. It won’t depend on individuals taste or style as to whether or not they’ll enjoy the series. Contestants will be easy to find for each episode. Each episode will be at a different location, S1, E1 will be shot at Byron Bay with locals. Jumping forward, once on air we will advertise the website of the same name. (We will possibly sell a part of this to the Government. I won’t explain why they’d be interested yet.)
Ideally this series would be also created for Europe, Asia, Americas, everywhere before others create something similar. I doubt one could patent a TV show. Perhaps, if enough interest can be created, it will be released to some countries with subtitles. Fab for children to be reading from the tele.
This is a new idea. I haven’t worked in these fields before. My work and interests have been with horses and art which don’t apply here. It could be said I have a checkered past.
Please contact me Richard. I feel I can trust you so I’ll explain everything to you. I’m excited about this. I want to create money with this so I can turn my property, my home in Bangalow, into an Art Gallery with beautiful outdoor sculpture where people can eat. You can also be part of this Richard. Happy New Year
yours sincerely, Karin Bala
December 27, 2014 at 4:54 am