Months ago I learned that Canadian mompreneur, Karyn Climans founder of Tail Wags, was going to make a reappearance in the Den. So it was with great anticipation that I watched last night’s Second Chances episode. Entrepreneurs who had unsuccessfully pitched the Dragons in past seasons were given an opportunity to plead their cases again.
Walking through Ikea today reminded of the Dragons’ Den. This week’s episode touched on the concept of the loss leader, a strategy Ikea executes to perfection.
I love Dragons’ Den because of the stories you hear from some amazing Canadian entrepreneurs. But I also love the show because it’s great tv: dramatic, funny, occasionally over-the-top, sometimes sensationalistic. The stories on the show also happen to be true. Like the best reality tv, you couldn’t make this stuff up if you tried.
The take-away from this week’s episode of Dragons’ Den reinforces one of our long-held beliefs: There is nothing wrong with starting small. In business, starting small can mean flexibility, control and even freedom. One woman we interviewed for Mom Inc. told us, “I never wanted to be so tied to my business that I couldn’t walk away from it if I needed to.” For better or for worse, the benefits are starting small were evident in tonight’s show.
One of the reasons I love Dragons’ Den is because it’s so relatable. If you’ve dabbled in entrepreneurship, you will see yourself reflected in many of the stories that appear on screen. There were three great business lessons in tonight’s show. The proof is in the pudding
Regrettably, work and back-to-school have hindered my reality tv viewing – but I’m caught up now and loved the season opener of Dragons’ Den. I’d like to share some of the business lessons I learned from watching.
It doesn’t matter where you sell it – just sell it