Adrie's Blog

Dragons Den

Dragons Den is a TV program made by the BBC, transmitted in the UK obviously but with different local panels across many other countries as well.

Whilst I was in the UK earlier this week, I came across the program again whilst zapping, and stayed to watch it for a while. I like the formula but the result does depend to a large degree on the execution. Watching it, I had a number of observations. Most importantly of all, I concluded that the panel of supposedly successful entrepreneurs/investors were extremely arrogant. It was more about "look at me, I am great" then focusing on what the entrepreneurs in front of them were presenting. It isn't hard to torch the ideas and presentations of young, inexperienced entrepreneurs, but it almost comes across as if that is the objective of this program. Similar to a format such as the X Factor, where you have to have the "Simon" being extremely tough, to the point of being completely rude, to the contestant. To me, that's too much focused on the "soap" effect rather then taking the subject seriously.

Besides that, I thought the BBC could probably adhere to a more stringent selection procedure so that you also protect the entrepreneur against him/herself. You see a lack of coaching and mentors, lots of good ideas, but usually the commercial side of things is badly understood by the "inventor", they do not have clear three year forecasts or done any market research. It's OK to be wrong about the market, or about your forecast, but it is good to sit down and think about it.

I think that a format such as this, which is based on the idea rather then the underlying, complete, business plan can be a lot more fun if for instance the audience can vote and choose to participate in the idea if they wish to. Then in a second round, followed with the cameras, the contestants that were selected can meet with coaches and experts and shown how to truly make the most of their idea.

All in all - the panel of Dragon's Den is certainly qualified enough - but it does not seem to be about the entrepreneurs any more.

Panel Members are:
James Caan
Duncan Bannatyne
Theo Paphitis
Deborah Meaden
Peter Jones

You might want to Google them....