BBC Babble – Doing battle in the Dragons’ Den

I’ve been watching Dragons’ Den on-and-off for the last three years. Although not a dedicated viewer, I find myself captivated whenever I catch a new episode. With little to no action or movement whatsoever, you would think the show would be incredibly dull. To assume that, though, would be underestimating the inherent drama of a sales pitch. Particularly, when said pitch is in front of five of Britain’s most successful and influential business tycoons.

If you’re unfamiliar with the structure of Dragons’ Den, it’s quite simple: Fledgling entrepreneurs and would-be inventors present themselves in front of an audience of five capital investors in an effort to secure funding for the distribution of their products/services. However, these are no ordinary investors; they are some of the world’s most brilliant business minds capable of seeing through the hype and glitz of a confident pitch, and culling an answer to the following basic question: “Will this make me money?”

Have I piqued your interest? Even if I haven’t, tag along with me after the jump, and together we’ll enter the not-so-friendly confines of the Dragons’ Den.

The current crop of Dragons is James Caan (not the actor), Deborah Meaden, Theo Paphitis, Peter Jones and Duncan Bannatyne. Each has their own area of expertise, but all are in search of rewarding investment opportunities.

Some have unjustly equated this series to Donald Trump’s overblown ego-trip, The Apprentice. Other than them both being set in the realm of big business and high finance, there really isn’t much else to compare. I would argue Dragons’ Den is more along the lines of American Idol. Each “contestant” is given a chance to impress as many judges as possible in order to achieve their goal. On Idol, they seek a golden ticket to Hollywood; whereas in the Den, it’s cash to advance their venture. There’s even a bothersome MC — similar to Ryan Seacrest — named Evan, who conducts frivolous interviews.

Unlike American Idol, there is no Randy or Paula to offset Simon’s brutal honesty. Inside the Dragons’ Den, it’s Simon multiplied by five. Each one is willing and able to voraciously rip apart a poor presentation or ridiculous concept. No matter how sound an idea may appear, it’s likely one or more of the Dragons will succinctly tear away the brash exterior to reveal the inadequacies that lie beneath.

Be it unrealistic profit expectations or a misguided proposal, no one unworthy escapes the all-knowing glare of the Dragons. As amusing as it is to watch wannabe magnates get grilled to the point of embarrassment, my favorite aspect of the show is when an idea hits, and the Dragons go head-to-head in a bidding war. Watching Peter Jones and Deborah Meaden match wits to manipulate a deal in their favor is highly entertaining. Things can get a little nasty in the Den, which isn’t surprising when you place five ultra-competitive millionaires in the same room together.

Here are a few memorable episodes:

• Hungryhouse.co.uk – Two squirrelly lookin’ fellows pitched an online takeout service that looked a bit dodgy. I thought the idea was crap, especially since a rival website from Denmark was doing three times the business. Nevertheless, two Dragons invested a total of 100,000£, but also suckered the dim duo out of 50% of the business. Seemed a little steep to me.
• The Water-buoy – A clever little device the size of a Bic lighter that attaches to your keys. If you happen to drop the keys in a body of water, a balloon inside the device is triggered that prevents them from sinking. Three Dragons vied for the rights, but Theo Paphitis took home the prize. Great episode.
• The Nova-Flo – A nifty mechanism used to prevent bathtubs from overflowing. Two Dragons wanted a piece of this action, but the inventor turned them down because the asking price was too high. Good for him. I felt the Dragons were taking advantage.

Dragons’ Den is a straightforward concept that works. There are no obstacle course challenges or tangos to perform, just a good-old-fashioned game of mental monopoly. You can catch the series Thursdays at 8pm on BBC America or you can sample a plethora of segments on YouTube. If you dig watching people squirm in front of a firing squad, then you should feel right at home inside the Dragons’ Den.

Clacked by Scott Tunstall
on Jan 28, 2009 @ 10:00 EST5EDT