To be honest, I think most people on this show would be better off going to see a bank and asking for a loan. Unless you really need their expertise and contacts, I don't see the point in using venture capitalists over a bank... unless your business model is so flaky that the banks ain't interested.
Duncan Bannatyne
- Thread starter MorningView
- Start date
Aye, the amount of time and effort gone into a lot of the ptiches and they just offer silly demands then say " oh they will regret that" they know they are on to a winner with any business because its already been seen by a couple of million people. Its the best advertising going.
People only go to the Dragons as a last resort, it's not something a business should ever consider if they could get a bank loan. Business angels always take a large percentage of the company because if something gets as far as them it is clearly a big risk.
The woman with the magnetic thing for guiding cables through walls? In the end, she got a better deal than she had asked for.
She wanted 50k for 15% stake and got 80k for 20% stake. OK, she has given away more equity in her business, but she has got a better return for doing so.
I am still finalising my presentation for Nintendo Wii interactive porn
Has potential.
I don't mind Duncan, in fact his facial expressions crack me up. Granted he's a bit miserable at times but he also seems game for a laugh. Always likes to give anything physical a test run.
Deborah on the other hand is a complete cow. She sits there waiting to hear what the others have to say then uses their reasons to say whether she wants to invest or not. I would absolutely love to be in a position with multiple offers on the table just to be able to say "Deborah, I think you're a complete cow who I have no interest in working with, so you're out!"
Deborah on the other hand is a complete cow. She sits there waiting to hear what the others have to say then uses their reasons to say whether she wants to invest or not. I would absolutely love to be in a position with multiple offers on the table just to be able to say "Deborah, I think you're a complete cow who I have no interest in working with, so you're out!"
The thing that struck me last night about Duncan was that he was wearing a tie, whereas I remember him in the Den always having an open neck. That together with the new hair colour and old man's swept to one side style has really aged him IMO.
I am still finalising my presentation for Nintendo Wii interactive porn
I’m sure that you’ll get the backing when the time comes.
I am still finalising my presentation for Nintendo Wii interactive porn
I had that idea back at uni 2 years ago, includes a belt that you can hook the wii remote into for strap-on fun
+1 for Richard Farley. He was always courteous, even when the product was ludicrous and the pitch completely laughable. I liked the way he outmanoeuvred the other dragons; he was the nemesis of Peter Jones! Richard had imagination and flair. My wife thought he was rather sexy.
Another +1 for Peter Caan. He struck me as quite artistic. Like Richard, he was prepared to rush in where the other dragons feared to tread.
-1 for Peter Jones, who acts like a spoilt brat whenever he doesn't get his way. He pouts, postures, and rubbishes other people's deals with a petulant "well, I didn't want it anyway" attitude - even when he's tried hard to get the same deal! I bet Peter lives on a diet of sour grapes!
That's the nature of venture capital, though. You might invest in 10 ventures a year... out of those, only 1 might go big and yield a return, so when you do get a winner, you need to recoup the losses for the other 9 investments...
At the end of the day, the knowledge and expertise and contacts from having someone that's been there and done it could be much better than any bank loan. Of course, 60% of a multi-million pound company is better than 100% of a lifestyle business that will never generate real money aside from a wage for one person... a venture capitalist (a dragon) can take you to that next level.
It seems a lot of people go in for "as seen on tv" sticker more than anything else. They know the deal will never stand up to due dilligence review, but they go in anyway. They come to give away 15%, they walk away with 49% of their company gone. no one is that stupid. Those kind of agreements will never follow through.
Then there is "best salesman for the bad pitch" angle. The magnetic pole cable retrieval for example. As brilliant as it might seem at first. Just look how good that lady was. All the "muuhillionaires" dragons, sharks and investors - they all jumped on "complete package" without asking a simple question they usually ask at the beginning - does it have world wide patent. I'm sure it doesn't because it would be overlapping several other patents, not the least of - apple's magsafe. And the moment this hasn't got patent it's as good as gone. Tomorrow you'll find a cheap Chinese knock off at you local B&Q.
Then there is "best salesman for the bad pitch" angle. The magnetic pole cable retrieval for example. As brilliant as it might seem at first. Just look how good that lady was. All the "muuhillionaires" dragons, sharks and investors - they all jumped on "complete package" without asking a simple question they usually ask at the beginning - does it have world wide patent. I'm sure it doesn't because it would be overlapping several other patents, not the least of - apple's magsafe. And the moment this hasn't got patent it's as good as gone. Tomorrow you'll find a cheap Chinese knock off at you local B&Q.
Agreed, that really annoys me too. It has become so predicable that the dragons will go for at minimum 40% of the poor sods company.
Can i be a beta tester for the game?I am still finalising my presentation for Nintendo Wii interactive porn