I was a contestant on Dragons Den

Magical business money? Where did it come from? I'm sorry but I don't believe you lost 6 figures and I'm not sure I even believe you sold £43k worth. Who to?
.

er, I earnt it (!!), but didn't take it out of the business, therefore not having to pay various taxes on it. If it's taken it out of the business and instead I'd spent it on personal stuff like, say, hookers and cocaine, I'd only have been able to spend about 50% of it* after the taxman had taken his pound of flesh.


* Yes yes depending on how quickly I took it out, whether I paid dividends or salary etc.

Business money is very different from personal 'in your back pocket' money. It's much cheaper to spend (if that makes sense). All about the government madly trying to persuade businesses to reinvest rather than directors taking the dosh and running :)


I got a stall at a bike show and took a load up there and sold for £80 if they bought on that exact day (was £100 normally).

This was mental .. they really were selling like hotcakes -- £80 about every 30 seconds on a product with a £18 production cost gives you a warm gooey feeling inside!

Had no way to take credit cards at the show so (secretely) noted down the credit card numbers using pen and paper, then when I got them home typed them all individually into the website to 'complete' the sale even though they already had the product, then destroyed the record of the info. Which probably broke about 100 credit card rules - but was doing anything I could to get sales!
 
Last edited:
About 4 times a day sometimes I use a real bicycle rigged to a turbo trainer, allthough a special turbo trainer, it simulates routes, infact some people put some of the really long TdF stages in there. It simulated gradient.

It does things like.

HRM
Power
Cadence
Miles traveled
Average speed
Distance in front/behind other rider if they're on.
 
er, I earnt it (!!), but didn't take it out of the business, therefore not having to pay various taxes on it. If it's taken it out of the business and instead I'd spent it on personal stuff like, say, hookers and cocaine, I'd only have been able to spend about 50% of it* after the taxman had taken his pound of flesh.

It's still money you earned contracting. What a waste of money. Did you do any research at all or did you go in to it with blind faith?

This was mental .. they really were selling like hotcakes -- £80 about every 30 seconds on a product with a £18 production cost gives you a warm gooey feeling inside!

I guess that was part of your problem. You didn't consider that the actual production costs was far higher than £18.

i.e.

Especially when I was sending 6K a month to some Russian programmer

Do you know how many unique visitors your website got? (rather than hits)
 
You can't get a 10 minute advert on ITV1. :confused:

Says who?

If I had £100M to burn, I could call ITV1 and I'm 99% sure I could get them to agree to a 24 hour advert with nothing else...let alone 10 minutes.

As far as advertising goes, money talks and everything else walks.

ITV1 is a profit based company, which means that if an advertiser pays a suitable fee, they will do whatever it takes to meet the advertiser's requirement.

For a single, 1-off, 10 minute advert, you would probably have to pay a 7 figure sum.
 
This was mental .. they really were selling like hotcakes -- £80 about every 30 seconds on a product with a £18 production cost gives you a warm gooey feeling inside!

If this is true, why did you not come back to the bike show (say, the next day) and come equipped with more stock? Was stock shortage a problem?

I'm struggling to understand why your idea went bust if you are saying that there was definitely a demand for your product.

Did cash flow become a problem - you stated earlier that you were spending a lot of money on software development?
 
I myself personally can't see me sitting on a poor exercise bike, with no real resistance, looking at a laptop with a wee dude cycling along.

I'm sure he would have a turbo trainer hooked up to his device. There is no way you can pedal a bicycle with no resistance. It actually becomes terribly difficult to pedal at cadences of around 130rpm+, which is what would happen if you had no resistance.

Some form of device to force resistance is integral.

Britboy...you see the problem you have when you don't bring your product to the pitch/advert? We are struggling to understand what you are actually selling for £100.

To not bother bringing your product, to the pitch was a MASSIVE error. You lost out on potential sales, there.
 
Says who?

If I had £100M to burn, I could call ITV1 and I'm 99% sure I could get them to agree to a 24 hour advert with nothing else...let alone 10 minutes.

As far as advertising goes, money talks and everything else walks.

ITV1 is a profit based company, which means that if an advertiser pays a suitable fee, they will do whatever it takes to meet the advertiser's requirement.

For a single, 1-off, 10 minute advert, you would probably have to pay a 7 figure sum.

Regardless of whether you could or couldn't it's a pointless comparison. A Dragons Den pitch is not an advert especially if you don't name your website and the product is called Personal Trainer ranking around page 62 or whatever on Google.

Anyway, I get your point it's good publicity. Pity the product was poor.
 
Ofcom, if I remember correctly itv are only allowed 8mins of ads per hour so no you cannot buy a 10min ad slot no matter how much money you have

Hang on a second...on ITV1 I have seen, late night, for hours...yes hours, products being advertised. I think they call it tele-shopping. Normally, they advertise (coincidentally), exercise machines/devices/videos, at this time.

That "show" is one long advertisement (or an info-mercial). So, once again, I don't believe the 8 minute rule...this can be broken/manipulated if you are creative and have a "can-do" attitude. [I think that there are far too many people with "no-can-do" attitudes who look for reasons why something cannot be done].

Always remember, in business, you can ALWAYS bend/break the rules and get away with it.

If you are really good and your company goes bust, you can even go to the Government and they will actually bail you out (unbelievable as it may sound)...ask RBS ;)
 
Ofcom, if I remember correctly itv are only allowed 8mins of ads per hour so no you cannot buy a 10min ad slot no matter how much money you have

I wonder how QVC get around it.

Their entire airtime is spent selling you things

either

A) this rule is specific to ITV1.

or

B) QVC and the other shopping channels have some loophole they exploit by making it technically a program rather than advertising.
 
A Dragons Den pitch is not an advert especially if you don't name your website and the product is called Personal Trainer ranking around page 62 or whatever on Google.

Britboy did state earlier in this thread that he did not use the pitch to get funding...he wanted to use it as an advert, but as you pointed out, not taking the bike with him was bad.

He should've taken a bike with him and on the bike stickered the logo on to it. It wasn't a good advert and he clearly didn't think it through.
 
I wonder how QVC get around it.

Their entire airtime is spent selling you things

either

A) this rule is specific to ITV1.

or

B) QVC and the other shopping channels have some loophole they exploit by making it technically a program rather than advertising.

Those rules don't apply to channels dedicated to teleshopping.

Plus specific rules do apply to ITV, Ch4 and 5 as public service channels. They were previously banned completely from doing teleshopping but the rules changed in the last couple of years to allow it during the night.

so change the example to 8 minutes... :rolleyes:
it was just a comparison of what the equivalent paid for ad would have cost.

His pitch was actually under 8 minutes anyway. :D
 
Plus specific rules do apply to ITV, Ch4 and 5 as public service channels. They were previously banned completely from doing teleshopping but the rules changed in the last couple of years to allow it during the night.

So, in otherwords, there are "exceptions" to those rules. I have no doubt that if you throw enough money into the pot, that those rules can also be bypassed or even new "exceptions" created.

In any case, we are getting off-topic, especially as the pitch was under 8 minutes. :)
 
Back
Top Bottom