I WAS ON DRAGONS DEN! UPDATE

[HotDog-Cart]

**********UPDATE**********

Hey guys. I went today, and I got a small interview by CBC. I was going to get like a 10 minute exclusive interview, but we had to go so I couldnt.

Although, they LOVED my idea. The only problem was that, I'd be going against HUGE companies, but they told me "Be persistant. Dont let a big company push you around. Follow your dreams."

I also got a poster that was signed by all of the dragons. Yay!

***************************

Hey guys. Its me HD-C here. I'm basically exploding with glory and happyness right now. I'm going to be on a Canadian Entrepreneuring show called "Dragons Den". (Its on CBC. They also have a version of it on BBC)

Its a show about people bringing in their inventions and trying to get financial help, professional advice and help getting it sold from some of the worlds best entrepreneurs. (In return the person gives a percentage of their business away to the people if accepted.)

I'm bringing on an Innovation of mine. Its all about Virtual Reality.

I put maybe in the title, as I dont know if they are going to film it or not. According to some people, they film it all but only air some of the presentations.


I'm pretty dang nervous. I need some suggestions from you guys.

I have to make a business plan (Description of the product,) which consists of a slideshow and verbal presentation.

What else do you guys suggest I should do? I'm going to make a report and memorize it so I can quickly awnser any question they may have.

What should I dress like? (Mind you I'm going on a bus with people and am going to be going to a huge mall in toronto after).

Ofcorse I cant bring my physical innovation as its not fully done yet, but I'm going to be bring a thumb drive with mockup prototype pictures and some info on it.

Gah, I'm so nervous.

[nitro2k01]

What should I dress like? (Mind you I'm going on a bus with people and am going to be going to a huge mall in toronto after).

Don't dress up. Neutral trousers + a t-shirt with a print that is representative of you, should do it, if you have one. Avoid band t-shirts, unless it's your band.

[Tibia]

Generally, stick with a solid color or abstract pattern. Copyright images and logos are best avoided.

[HotDog-Cart]

Why not dress up? Some people do who are on the show.

[ghosstt]

Why not dress up? Some people do who are on the show.

then be like everyone else

[bacteria]

You have to look smart, have a nice suit on - they won't invest in a shabby individual. I have watched a lot of Dragon's Den.

Remember, they always want 35-50% of your business, be prepared for that, and what added value they can add to you. They expect you to run the firm, be entreprenurial and profitable and presentable and investible. Research your market, opposition, differences and pricing. Be polite.

Let us know how you get on and give us a YouTube link!

[khaag]

Why don't you do a mock presentation for us?

[bacteria]

Oh yeah, the other thing - don't overvalue your company, especially as startup business. Also, have realistic annual sales projections. You will also need a patent / patent pending on the product or they will just say it can be copied and will lose interest.

[HotDog-Cart]

I dont have a patent or a patent pending on it. When they ask, thats when I'll say "Thats what I need your help for".

Gosh. Im nervous.

[CronoTriggerfan]

Yeah, you shouldn't do that. Get whatever this thing is patented BEFORE going on the show. What is this innovation, anyways?

As for your attire, knowing nothing else about this I'd say some nice khaki pants, a collared, button-down shirt, and a tie. Watch some episodes and see how other guests dress, judge based on that. You also might wanna consider a haircut if you've still got that mop on your head!

Don't be nervous. You may be scared in the first minute or so, but after that it gets easy. Are they going to be asking you any routine questions? See if you can get a copy of them before going on, or discern what they might ask of you. Start formulating some well thought out, articulate answers to those questions so you can have a spot-on answer like it's second-nature.

[HotDog-Cart]

Well the thing is, CTFan. I'm going on the 26th (I think its the 26th) for a field trip for my school. My school contacted them on behalf of my entrepreneuring class, and they told us 5 kids could come on the show. Now, theres NO way I could get it protected before the 26th. Its impossible. Patents take a while, and I dont have $1000 to dish out.

[CronoTriggerfan]

Oh, so this is something through your school. In that case, I'd say you should be okay, seeing as you'd be coming to them for advice. I was more under the impression that you had contacted them.

[bacteria]

I dont have a patent or a patent pending on it. When they ask, thats when I'll say "Thats what I need your help for".

Gosh. Im nervous.

FAIL.

Sorry, I have seen most of the episodes of the show, they don't expect to run your business or help with a patent; what they are good for is to use their contacts to make the business open into markets they have their thumbs in the pies with and also direct the company into the right path.

No patent, they lose interest and almost always say (word for word) "oh, so your product is unprotected then? So anyone can come along and make a copy of your product and take you out of the market? Right, I'll tell you where I am at the moment: i'm out".

If you are serious about your product, you need to apply for a patent pending immediately, for worldwide coverage. Yes, it takes a while to get it but the first step is to get it registered. Don't use your school for the funding as they will own part of the patent and have a share in the project; that is where friends and family come in.

If you can't give this level of committment to the Dragons, forget it...

Better you hear now, and prepare to succeed rather than doom to fail.

And, absolutely wear a suit. They are never impressed by a scruff asking for piles of cash, they can't take you seriously. Get/borrow a suit and tie.

[HotDog-Cart]

Bacteria, you just came off to me as a mean person, let me explain why.

I'm 17. This is a FIELD trip for my entrepreneuring class. Does a 17 year old kid have $1000 dollars to get his item patented in canada? Does he have $1000 to get it patented in US? Does he have thousands of dollars to get it patented WORLDWIDE? Simple awnser: Hell no.

Also, I never said I'd use my school for funding. My school wouldnt do that anyway. Also, the canadian goverment is encouraging young entrepreneurs. If the dragon people had any knowledge, they would understand that.

From about the 20 episodes that I have watched in class (Note this is the CANADIAN Dragons Den), they seem to help you get it on the market, and help you with your business. Infact, they even ask for a "Percentage of your company".

Just explain to me bacteria, how I'm supposed to apply for a patent when I dont have about $1000++++ dollars to my name and cant get $1000?

Its not really fail either, as about 4 other students from my school (and other schools who will be there. Yes its like a "invite your school day"), will possibly be asking them for advice and help or watching others do it.

It may be hard for me to wear a suit and tie. I'm going to be on a school bus. Then after the dragons den, we are going to the 2nd biggest mall in Ontario.

Gosh, why do some people just have to be so rude? You dont have to say I fail and stuff like that. I have no problem with you. Jeez.

[Skyone]

He's just giving you some personal advice, HD-C.