Learning from the Dragons'

Flicking through television channels the other night, I came across an old episode of Dragons' Den. It was an episode from series one, and although the general format has remained unchanged, what struck me was how far the current series has developed.

The current line up of Dragons' is arguably the strongest that the series has ever boasted. Duncan Bannatyne and Peter Jones have been there from the start of course, but the show would not be the same without the steely presence of Deborah Meaden, Theo Paphitis' loveable eccentricities and James Caan has taken to the screen like a natural.

Dragons' Den, is of course, an offshoot of reality TV, and as such has to be taken with a pinch of salt. However, there are real business tips that small business owners can pick up from watching the show.

Pitching to potential clients/investors is always nerve racking but as the old saying goes, 'the more I practice the luckier I get'. All business owners need to be adept at the art of selling themselves, and their business. Practice makes perfect.

It sounds simple, but time and time again those pitching let themselves down on the figures. Whether you are pitching to five scary entrepreneurs in a studio set made up to look like a disused building or to your bank for a loan, knowing your figures is absolutely vital.

How much money does your firm generate a year? What is your projected revenue for the next three years and what specific areas will you use the money to invest in to grow the business? And why should someone invest in your firm, what are the unique selling points?

The chances are that none of us will ever go and pitch to the Dragons'; but all small business owners make pitches all the time that are just as important to their firm as those that are made on the television. Just make sure that you don't follow the (ample) examples on the TV over how not to pitch.....

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