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Series 5 of Dragons’ Den kicked off last night, as the BBC is coming under increasing critisim for turning what could be an interesting business show into cheap reality TV. Commenting on the trailer for series five, Rachel Elnaugh, a former Dragon herself, described the BBC’s approach to the series as:
Coliseum TV created exclusively for the torture of those who manage to get featured on the show, and entertainment for the masses.
Sadly the show did continue to reinforce that image with Evan Davis reminding us that the “rules” of Dragon’s Den don’t allow contestants to take any notes into the Den. While I would expect any serious entrepreneur to have a good grasp of the figures relating the their business – something that few entering the Den seem to have – I doubt any serious investor would refuse to allow someone to pitch to them without notes, in fact most would expect to see those notes in the form of a Powerpoint presentation.
Typically an investor would also have had a chance to scrutinise a businesses business plan beforehand, allowing the investor to decide if it’s an opportunity in a market that interests them or even to investigate if a market exists, in the case that they are unfamiliar with the product or service. If that where the case the Dragon’s wouldn’t make fools of themselves as Debra Meadon did when she claimed there was no market for Trunki.
So what of last nights pitches? They were:
- Double Dates – some sort of date with a celebrity double. As a business idea I think there’s probably something to it and I can see how the investment could be used to accelerate the growth. I don’t however see it providing sufficient return on investment. I would not have invested.
- The cycling trousers – We didn’t really see enough of her to form much of an opinion.
- Furry Balls – I quite like this idea and I suspect it’s a product that the NCT or the like could do well selling to their members, but it’s not a business.
- Beach Break Live – The student party, seemed like a good idea, after all Glastonbury started small too, but why of why did they take Peter Jones’ offer. Debra Meadon’s contacts would surely be more useful, even if you have to give up 5% more equity for them.
- Dates With Mates – Well dating is a hugely profitable are (low overheads and lots of demand) so it’s a market worth pursuing, the question is are they different enough to be able to carve out a share of this hugely competed market? I’m not sure. I would not have invested.
- Cowleys Foods – A colourful couple, but not an investable business, too small and perhaps too colourful.
- Nobby Travels – Children’s books about a chocolate Labrador. Didn’t get much of a pitch on the show, but looking around the website it looks like a good idea. The trouble is it’s a highly competed market. They seem to be targeting it through primary schools which may or may not give them an advantage. It looks like they have a great product but I can’t help thinking they’d be better off getting a deal with publisher and focusing their talent on creating the content rather than printing, packaging, marketing and distribution. Sure they’ll make less per unit but could produce more products and sell a lot more units of each. Depending on their business plan and who they are I might have invested in this business if I were a Dragon.
- Soap Nuts – Untested and too brief to comment on this idea.
- TucTuc – I thought there might be some merit to this as I suspect the vehicle produces lower emissions that traditional taxi’s so it might be an environmentally friendly alternative, but looking at their website it appears to be a franchise with a business model that is perhaps not viable – as when I finally got into the flash site I was greated with the quote:
Brighton Where it all began 2006 Now closed for 2007.
- Midas Touch – In a masterful stroke of missed opportunity has now renamed GoldGenie missing out on some of the great PR available from Dragon’s Den. I suspect the change was to a new name that could be trademarked. They appear to have expanded into selling gold plated products and the business looks to be developing well with James Caan’s input. I’d have to be honest and say that I would not have invested, I don’t see anything unique about the business that suggest to me that there would be a return on the investment.
It’s nice to see that new dragon James Caan is making investments and following them through.
In closing does anyone know if Peter Jones’ wife watches the show, I’d love to hear her take on Jones’ boast:
I don’t struggle to get dates because I am seriously good looking and I am wealthy.
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This blog is about business opportunities and ideas that I spot, think of or hear about and think are useful and interesting. It is intended to provide ideas and inspriation for you to help you find the right business idea for you to then grow it into a successful business.
Some of it was just cringeworthy and too hard to listen too. Didn’t realise they weren’t allowed to take notes in. I did wonder why they never took a print off of turnovers, profits etc but then that’s the main thing they like to confuse them with. It looks like the dragon’s are going to be fighting between themselves more this series.
It does rather look like we’re going to get more inter Dragon spats.
It was interesting to see them all correcting Duncan Bannatyne over the volunteer issue, he seemed to sulk a bit after that. I think they all rather missed his point however as it should still be considered a cost.
Here’s the website for the Cowleys. http://www.martinsjerkedmeat.com/ Its true they are colourful, but in teh nicest way, I’ve bought from them many times and they sell delicious, healthy and definately moreish snacks. Their products sell well to a wide variety of markets, and I felt it was a real pity the programme couldnt focus on products and their merits rather than the appearance of the company owners. Showed the Dragons in a very bad light in my opinion.
just to say, if anyone wants to contact Martin Cowely and Find out more about his Jerked Meat & Fruit Leathers business, then have a look at http://www.martinsjerkedmeat.com
What is this – the Cowleys fan club?
I’m tempted to try their fruit scrolls though.
While your at it check out Nobby Travels too : )
I had some of the Jerky at a music festival this year and it was fab. It really was nice and the kids loved the fruit scrolls. I lost the packaging and didn’t know where to buy it until now. so will be getting some more. I thought the program was a bit rough on them as it didn’t seem to be interested in the product only their image, and I would thought out of all the problems that can face a business talking a punk into shaving his head and putting on a suit (if that is really needed) is got to be the smallest and simplest thing to fix, surly a great product and unique business is far more important.
Where we bought the product the guy fitted in perfectly and whilst I agree that the image may not be perfect for the supermarket shelf, I really would have thought that these apparently experts in business couldn’t see past the packaging and give the product a fair shot. and in my opinion….. better packaging would make a product that would be great in any high street store or pub.
Just hope a big chain picks it up so we can all buy it.
Rebecca,
Yes the Dragon’s were a bit shallow, but unfortunately the buyers at a big chain are likely to be just as bad.
I thought their image suited their market (even more so having now read where they sell on their web page) and I expect they’d do well with a stand at the Beach Break Live event.
Even so I don’t think they had anything that was unique enough to be able to achieve significant growth and thereby provide the return on investment that an investor would be looking for.
Watched the show with a bit of interest as had not seen it before and decided to give at a look.
I can concur with the comments above from a business pov. It seemed that every “contestant” (it is a game show it would appear) got good, or at least some, coverage of their product or service.
In the case of the Cowleys I was so incensed with the small minded petty sniping of the so called business experts and their inability to say anything constructive I found the website to see what they actually do.
I love jerky and wholsome natural food products and to find that it is a British product made wholly with natural British sourced ingredients a huge incentive.
They appear to be making a real go of their market and I, for one, will be buying from them, we need to support local home grown talent and businesses IMHO.
Shame on the Dragons for all of their petty small mindedness. It makes them look inadequate in their supposed roles as mentors.
I think you’ve summed up the problem with the show, it’s not supposed to be a game show, it’s a pitch for investment and the Dragon’s are supposed to be acting as Business Angel investors. They are NOT mentors.
Unfortunately it comes across as a game show and the producers seem to focus more and more on taking it that way.
I should have said above that the other reason I was so incensed was that these so called “experts” clearly let the other contestants speak about their product or service but clearly singled out the Cowleys for ridicule *without even mentioning, or allowing them to mention* what they wera actually about.
Even with this ridicule of them, apparently on the basis of their dress sense alone, when their advocate came to their assistance, *with suit* they ridiculed him as well constantly interrupting. Clearly no consistency there then! How can one get over one’s financials if one is not even allowed to complete a sentance?
Unfortunately they’re not experts either, they’re entrepreneurs with some spare cash and like all of us they are free to spend their cash how they see fit.
They do sometimes (more and more these days it seems) let their ego’s get in the way and seem to be more focused on getting more air time for themselves than asking intelligent questions.
James Caan looked like he was going to buy everything.
Even though Dragons Den probably cleverly edited Martin’s Jerked Meat presentation to put the Cowleys in a bad light, the Cowleys and their “advocate” still managed to make it appalling (in personal appearance, content and financial acumen of where they are and where they wanted to go). Planning and preparation appeared to not be in their dictionary.
The Jerky though is fantastic – try it.
Dear all,
Having filmed for the series in the summer in a disused filmset not far from James Bond, there is more than meets the eye.
In fact we were shown on Monday 19th November Episode 5, Series 5 towards the end and were trashed for about 90 seconds.
With regards to the comment about “cheap reality TV”, I think that actually an understatement, and our 1 hour pitch which was truncated to 90 seconds will explain a great deal.
We were the ones with the BamZ Interactive Insoles about 15 minutes from the end.
Why would I agree with the cheap reality TV tag? Well there are number of reasons,
The fact that there were three of us, all with extensive experience in our own diciplines. A European Patent Attorney, A market researcher and a designer.
Great! I hear you shout, a decent business program with specialists in their field. WRONG – we were never asked about any research done, or any patents or trademarks held. I fact one of the Dragons actually said “you’re an attorney, I’m not going to speak to you”
They didn’t probe any of the positives to look at the upside of the business in the longer term – why would you want to do that in a business program.
Most shockingly form the 90 seconds shown last week. They even invented comments at the end to make the dragons look reasonable, and not exposing their true characters.
In the last 5 seconds where Duncan said “I don’t like the product, and I don’t care for you”. (this never actually happened and was never said, and is complete BBC fiction).
It was in fact ‘I don’t like your product, I don’t like you Tariq and I hate you Noel’. What what you have seen is not even edited, this was seriously re-engineered afterwards. But I suppose that is a serious business program descending into “cheap reality TV”…
What would I know, I was only there for an hour!
Tariq,
While I don’t particularly hold the Dragon’s or the BBC in high regard there might actually be a reasonable explanation for the editing (perhaps their legal department felt it in appropriate/illegal to air the comment).
I can’t say I was impressed with what we did see of your pitch, you seemed not to know the cost of manufacturing your product and your brand seemed ill conceived.
The funny thing is they tried that show here in Australia and it lasted a week. You have to get it on cable over here to watch it. The Australian version is still going on cable I think. What I didn’t like about it was that I felt some of the entrepreneurs have this attitude about business that’s completely wrong. They were all very aggressive and at times their criticism bordered on personal insult instead of actually about the product being pitched. Too many people are influenced by Donald Trump!
In my opinion it’s a light entertainment TV show, not a documentry. The producers will edit the show to make it look however they want it to look.
If ever you go and see a magic show they don’t realy cut the woman in half, it just looks like it.
Read Chart Throb by Ben Elton, obviously it’s not a book on business but it may give an insight into how a TV show can be made to look however they want it to.
Mick
Luke, true sadly some of the Dragon’s seem to enjoy belittling people.
It’s entertainment but sadly many people will end up believing that business is really like that.