Posts Tagged ‘lessons from dragons’ den’

Well another week in the Den and just one investment made this week.  So what were some of the key lessons from this week?

Make it worthwhile

If you are going to get investment you need to make it attractive to the investor.  Make sure the stake you are offering ties up with sum you are seeking.

Be clear on your goal

I am often surprised that some of those seeking investment don’t have a clear goal.  It’s important to know whether it is the expertise, the contacts or the money that matters most.  Too often it seems like this basic goal is not defined.

Ask yourself what it is worth

We had another example this week of someone wanting to give a 10% stake and the Dragons’ wanted a 40% stake.  Whilst there is a big difference between the two numbers, where might your business be 12 or 24 months from now if you keep plodding along alone and compare it against what it might be with expert help.

Don’t duck the difficult questions

In any business deal there will always be challenging questions.  Answer them the best you can and whatever you do don’t duck the questions.

So what lessons would you add to the list?  Leave your comments.

 

Well it was week 3 of the 2009 series of Dragons’ Den and as always there was the usual range of diverse ideas.  So what can we learn from this week’s pitches?

1. When it comes to seeking finance from an investor you need to be able to demonstrate that there is a sufficiently large market to take the product or service to.
2. You need to be able to hold your nerve under intense scrutiny and not panic even though it is tough.
3. You presentation does not always need to be super slick.  It is whether it gets you the result that you desire that counts.
4. Know your boundaries when it comes to a negotiation as it makes decisions easier.
5. Working with an experienced and successful business person can really be the catalyst to success.

What lessons would you add from your observations?  Why not leave a comment with your thoughts.