Episode 6: Bábógbaby
Q: Explain your Dragon's Den experience?
A: After a touch up on the make up and a meeting with the presentation coach, I was off into the den, up the stairs, under the lights. I entered, I said my piece, introduced our award winning Irish speaking teddybears to the dragons and took their questions. After a while they thanked me, I thanked them and exited.
Q: Who was the toughest Dragon?
A: I think Gavin was my toughest. Although I didn't make impressions with the figures with any of them I did warn them to the product potential except Gavin. Gavin didn't see the potential of the Irish bear for toddlers and children and strayed to go off about students giving each other bears that said something smart or gimmicky. So he was the toughest nut to crack. Niall was certainly the toughest to try and answer with the answer he needed to hear in order to be interested.
Q: Were you nervous?
A: I didn't feel nervous so I hope I don't come across nervous. At the end of the day you are telling a story, you must have all the answers and you most compose yourself and remember that the doors are still open with these people even if no one invests that day. So what's to be nervous about. Now if I had to consider an offer from them, that's a different story.
Q: Were you surprised by some of the questions?
A: I wasn't surprised by their questions but I was a little surprised at some reactions at my answers.
Q: Who was most interested in your idea?
A: Norah, I believe. She was the most complimentary. She is the only one that saw the value in the company and its products more so down the line and that the majority of companies don't make profit in the first 2- 3 years. She said to carry on. That's positive.
Q: Would you have done anything differently?
A: Yes, I would ask for a little less money ,an offer more appealing but I have to believe in the value of my business not just now but down the line and value it accordingly.
Q: Would you recommend applying for Dragon's Den to any other budding entrepreneurs?
A: I would highly recommend anyone with a good business plan and a good idea to study their plan and present them for investment. Know your figures, make sure it tallies and enter the den and woo the dragons.
Q: What does this mean to you personally?
A: Personally I am proud I took the steps to apply and saw it through. I learnt a lot from the experience which will stand to me down the line.
Q: In five year's time where do you see your product/company?
A: In five years time I see our company being a brand leader in children's educational toys and books and pre-school entertainment.
Q: What is your lasting memory of the Den?
A: The confusion with Gavin that he thought I said a 200k was a small, business loan unlike a small Business, loan.
200k of a loan is no small loan but it is called a small business loan with the business been small not the loan.
Q: At any point did you think you wouldn't get the investment?
A: No. I thought I would manage to get one Dragon to invest. The fact I ended up with two Dragon's being interested is just fantastic.