HD, PVRs and flat screens, oh my! The boob tube sure has changed since the days when I had to get off the couch and turn a dial in order to switch stations.
The main reason I love Dragons’ Den is because Canadian entrepreneurs offer us tangible business lessons week after week. After each episode this season, I have written about a lesson learned–for better or for worse–from an entrepreneur who pitched the Dragons.
There’s no doubt about it: With millions of viewers each week, Dragons’ Den is a Canadian success story. But one of the best things about the show is that Dragons’ Den has turned so many businesses into Canadian success stories themselves. The so-called “Dragons’ Den effect” refers to the overnight success that some companies have experienced as a result of appearing on the show.
I've been watching Dragons' Den for a long time now, but one thing never ceases to amaze me. I'm talking about the entrepreneur who just won't listen.
On this week's show we met Frank Santiago, founder of Jitterbee, a shakeable pancake mix. Although Santiago got traction with his product early on, recent years have been hard. Santiago has invested $80,000 to get Jitterbee on grocery story shelves, yet last year had only $3,600 in sales.
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.
