Appearing On The BBC Dragons Den TV Programme And …...experienced heavyweight Dragons. •Identify...
Transcript of Appearing On The BBC Dragons Den TV Programme And …...experienced heavyweight Dragons. •Identify...
Slaying The Dragons
Appearing On The BBC
Dragons Den TV Programme
And Pitching For
£250,00 Investment
By Dr. Mark D. Yates
Tel: UK 0151 645 9180
E: [email protected]©2010 Dr. Mark D. Yates. [email protected] 1
Dragons Den: Should I – Or Shouldn’t I
• This is a huge business decision which I suggest requires a
lot of detailed thinking.
• A successful appearance can bring in the required
investment & bring added value to your business.
• However, if you screw up, it can have a devastating effect
on you & your business.
• In some cases it can even destroy your business.
©2010 Dr. Mark D. Yates. [email protected]
Dispelling The Myth Of The BBC’s Dragons Den
• Most people enter the Dragons Den thinking it is
a TV programme about granting aspiring business
owners a financial investment.
• To a great extent this is a myth.
• In reality the Dragons Den is a hugely successful
TV entertainment programme.
• Key word being, ‘ENTERTAINMENT.’
©2010 Dr. Mark D. Yates. [email protected]
Dragons Den Application – The Process
• Apply online & complete a detailed application
form.
• You are informed that only those applicants
considered good enough for appearance will be
contacted.
• If your application form is poor, then you won’t
hear anything from the BBC.
©2010 Dr. Mark D. Yates. [email protected]
What They Want From You
• They want you to provide great TV entertainment. Approx’ 90% of successful applicants fail to get investment.
• A viable business seeking investment.
• A robust business plan.
• Business already trading.
• Real reasons why you require investment from the Dragons.
• Great potential return on investment.
• Credible background.
• Passion & enthusiasm.
• 3 minute business pitch to TV camera.
• 1 minute audition plea pitch to TV camera.
• 1 to 2 minute TV entertainment audition for BBC Directors.
©2010 Dr. Mark D. Yates. [email protected]
Murphy’s Law What Can Go Wrong, Can Go Wrong
• Forget everything the Dragons Den researcher has asked you to produce for your polished pitch & Interview.
• My expected 20 minute filmed interview, stretched to 1 hour 20 minutes.
• You have to deliver 3 different pitches live to camera & they have to be given in one continuous take.
• I was questioned/interrogated on camera for about 30 minutes.
• No props, prompts, scripts, charts, index memory cards or assistance from the TV crew is allowed. It’s sink or swim time.
• It was designed to throw you off guard & take you way out of your comfort zone.
• It’s clearly a great tactic for getting rid of applicants who won’t provide great positive & negative TV entertainment.
• I would imagine a lot of applicants fail themselves & walk away.
©2010 Dr. Mark D. Yates. [email protected]
Suggested Pre-appearance Strategy Action Plan
• Plan your attack against the Dragons.
• Train for an unfair fight, i.e. You alone against 5 experienced heavyweight Dragons.
• Identify which Dragons you really want to invest in you.
• Conduct in-depth research into these Dragons to identify what turns them on to invest in aspiring entrepreneurs.
• Condense & compile a 1 page profile assessment on each Dragon.
• Study previous episodes of the Dragons Den.
• Plan your pitch.
• Anticipate any left field questions.
© Mark D. Yates. [email protected]
All Or Nothing
The rules of the Dragons Den are simple.
• You must secure the total amount of investment you have pitched for, (in my case £250,000) or you fail and receive nothing.
©2010 Dr. Mark D. Yates. [email protected]
Know Your Enemies• Appearance on the Dragon’s Den is a one shot deal. You
have to beat thousands of other applicants to appear.
• If successful you have to give it your best shot. I treated it like one of my extremely high risk missions.
• This means I had to really get to know my enemies the Dragons.
• I researched, read & then wrote 6 x 1,500 word SEO articles about the Dragons & their TV show.
©2010 Dr. Mark D. Yates. [email protected]
Dragons Den
My 3 Minute Business
Presentation Pitch To
The BBC Dragons
©2010 Dr. Mark D. Yates. [email protected] 10
Investment Overview
Hi my name is Dr. Mark D. Yates. I’m the MD of
www.asecurityonestopshop.com.
I. I’m looking for £250,000 in Investment to increase sales, marketing, advertising, foreign translation, staff & to improve our web site.
II. 20% equity on offer.
III. 3 to 5 year Investor exit planned.
IV. I’ve Invested 12 months unpaid & £84,000 of my own money to prove this business viability.
©2010 Dr. Mark D. Yates. [email protected]
The Business Model & How The Business Works
• We Are An Online Brokerage: Selling 56,000 security products from 55 Blue Chip manufacturers & distributors. We don’t buy, hold or ship any products.
• Payments: We are always paid up front.
• Revenue Generation: 20% average mark up.
• Customers: Business, home & vehicle owners & parents.
• Sales: Over 1,000 sales of approx’ £150k during a test & evaluation phase. Nat’ Health, B&Q, Military, Police, Shell etc, in 10 Countries.
©2010 Dr. Mark D. Yates. [email protected]
The Business www.asecurityonestopshop.com (ASOSS)
©2010 Dr. Mark D. Yates. [email protected]
Solving a Business Problem:
• Servicing an immature online market in a growth sector.
USP :
• UK’s largest e-tailer of 56,000 security products.
• Cheapest prices with a price beater promise.
Why Invest In It:
• Proven recession proof, & growth industry sector.
• No start up capital required.
• No feasibility capital required.
• Business is already trading.
• Technophobe friendly Investment.
Background & History:• 20 plus years, 43 countries, British American Security Expert.
Apprentice
Soldier - Special Forces Instructor
Professional Bodyguard
Counter Terrorist Operative –al Qaeda Trial
Spook Intelligence Operations
Security Trainer
CEO USA Corporation 5 ½ years
Doctorate & 3 other University Degrees - Security Management
Business Consultant-Interim Man’-Director
Company 1: £3.2M increase turnover year 1.
Company 2: 237 per cent turnover increase year 1.
©2010 Dr. Mark D. Yates. [email protected]
Projected Revenue
©2010 Dr. Mark D. Yates. [email protected]
Base Case Trading Net Profit
Year 1: 0%
Year 2: 6%
Year 3: 9.1%
Year 4: 16%
Year 5: 20%
• Year 1: £1.6 M
• Year 2: £2.9M
• Year 3: £3.6M
• Year 4: £5.4M
• Year 5: £8.1M
5 year Investment = A return of approx’ 5 times initial investment
Summary
• £250,000 required
• 20% equity on offer
• 3 to 5 year exit planned
©2010 Dr. Mark D. Yates. [email protected] Tel: UK 0151 647 715316
Slaying The BBC Dragons
• My primary plan was to try & entice Peter Jones
and/or Deborah Meaden to invest.
• Theo Paphitis, Duncan Bannatyne & James Caan
are all self confessed technophobes, so they
where unlikely investors.
• My main objective was to learn & have fun.
©2010 Dr. Mark D. Yates. [email protected]
Dragon’s Den Time Frame
• From sending in my original application form to appearing on the show was approximately 20 weeks.
• Would I recommend it to others?
• As a business experience which takes you out of your comfort zone, YES.
• From gaining an investment perspective, I’m not so sure. There are other options.
©2010 Dr. Mark D. Yates. [email protected]
My Dragons Den Advice• Download the application form, read & digest it.
• Think long & hard about should you, or shouldn’t you apply.
I planned my strategy around the following 13 stages.Stage 1: Formulate a ‘Plan of Attack’, but never disclose it until after the show.
Stage 2: Ensure all your business documentation is in great order & ready to be sent off.
Stage 3: Write out a compelling application form to entice a call from the researchers.
Stage 4: Deliver a dynamic Tel’ Interview to bait the researcher.
Stage 5: Present all your documentation immediately when asked.
Stage 6: Practice your pitch on conservative business associates.
Stage 7: Be smartly dressed & well mannered.
Stage 8: Confirm your entertainment factor on your TV camera Interview.
Stage 9: Deliver a memorable WOW factor to your researcher, as he or she has to recommend only one or two participants from hundreds.
Stage 10: Practice & torture test your pitch to business associates. Have them throw you verbal problems & learn how to overcome them.
Stage 11: Believe in yourself & your business , & visualise it’s success.
Stage 12: Set out to Slay the Dragons with an impeccable pitch.
Stage13: Enjoy the entire process, whether successful or not.
©2010 Dr. Mark D. Yates. [email protected]
Mark D. Yates Business Philosophy
There are just 2 primary strategies
for business success.
1: Never reveal everything you know. i.e. Yes I appeared & pitched to the 5 Dragons.
2: ......(Check out my web site to find out how I got on.)
www.drmarkdyates.com
©2010 Dr. Mark D. Yates. [email protected]
Contact:
Dr. Mark D. Yates
T: UK (0) 151 645 9180.
www.drmarkdyates.com