The last episode of the current series (implication is that there might be another) was aired last night (Tuesday 9 Feb). Usual theme of fledgling entrepreneurs massively overvaluing their business idea. One pair valued their business at £1.5M even though they currently had no actual customers for their folding rubbish bins. The amount of equity that entrepreneurs are prepared to give up for the Dragon's cash is also laughable - literally because the Dragons often do laugh when they are told they will only get 10% (which for some reason seems to be the standard 'offer'). In the end if they get any of the Dragon's cash they usually end up giving much more. This may seem like sheep to the slaughter but in practice most of the Dragon's offer to play the role of 'business angel' not only investing cash but also providing tactical and strategic advice. A good idea is one thing - turning it into a successful business requires a lot more - and especially so in today's ultra competitive world market.
Two ideas got the Dragon's support this week:
Snowbone - A device that turns your snowboard into a 'snow scooter'.
Wonderland - A surprising choice for the Dragon's - a new ultra lifestyle magazine aimed at men and women (along the lines of the ultra cool but still pretentious Wallpaper).
I'm still guessing that the Beeb will follow-up the successful (and possibly the unsuccessful) entrepreneurs at some point in the future. If so, I will be booking the front row seat in my lounge!
