Archive for March, 2010
Don’t Miss Thursday’s Show
We are having a great series this year. Thank you for all the appreciative emails and comments.
It seems a lot of people feel the show is a real bright light in the dark depression our nation is struggling through at the moment. Dragons’ Den shows every week that are loads of people out there with great ideas willing to make it happen for themselves.
As you know I blog on Monday mornings and Thursday nights immediately after the show but I really would hate regular viewers to miss the show on Thursday night so I want to give you advance notice.
What happens When The Dragons Are Turned Down
We see a Kerry based businesswoman turn down an offer from the Dragons. What happens next is really worth seeing so please, please don’t miss it.
Also on the show, I fell in love with Catherine Doherty from Donegal. catherine came on the show even though she was expecting, looked beautiful and spoke eloquently. Watch out for her on the programme.
There’s also a big business lesson to be learned. Beware of those offering to help you but making you sign over your profits. Watch out for the Pixie Cubes.
Then there is the lady who tells Sean if you don’t like you can…, There’s also an idea that should appeal to boat lovers and there is the lovely Melanie McGuirk who was so passionate about her business.
Finally Ciara Crosson makes one of the better Den Presentations, so good she gets a job offer but will she get an investment? All will be revealed Thursday at 10:15pm on RTE 1.
Dream comes true with help from Den – Recovering from a brief, blank, nervous moment, designer Karen Morgan went on to slay one dragon with her pitch
Sunday March 28 2010, Sunday Independent
For just one scary moment, that felt an age, I went blank in the Dragons’ Den. But I recovered and eventually got an investment from Niall O’Farrell. My business is Karen Morgan Ceramics and I create pieces that are as unique as they are beautiful.
My journey to the den started at the Limerick School of Art and Design on finishing my Leaving Cert.
It was no surprise to my parents, who I’d like to thank for giving me the freedom to make my own choices and follow my passion.
It was in my second year in college when my tutor, Kieran Whitelaw, taught me to make my first coil pot, when my love of working with clay began and the course of my creative career was given direction.
I then trained under Gus Mableson while I attended the Crafts Council of Ireland’s Pottery Skills course in Thomastown, Co Kilkenny.
Gus has always been a great source of knowledge and encouragement to his students
And now, long after I have finished my studies he still has time and sound advice to share.
Starting a business is all hard work but I did take time out to teach pottery to tourists on a cruise ship sailing between Australia and New Zealand.
On returning to Ireland, I focused all my energies on my design work and ideas really started to flow and take off.
In 2006, my Pestle and Mortar design won first prize in the Habitat House and Home Student Designer of the Year. My concept was to combine sculptural forms with everyday function to create work which was beautiful and ergonomic.
Collaborating with local artists to establish Earthworks in Thomastown, a co-operative studio and gallery, was an affordable starting point for my business.
With help from the Kilkenny County Enterprise Board its doors opened in August 2007.
After working incredibly hard for the past three years in Earthworks, things were going well. I had a good range of products that sold as fast as I could make them.
I wanted to bring things further but needed funding for expansion and equipment. I also needed to work on my marketing and branding to compete in a larger competitive market.
I felt I had the products and ideas but none of the contacts or marketing experience. When a good friend suggested I apply to go on to the Dragons’ Den I initially thought, “no way!” I’m quite a shy person and couldn’t imagine doing something so scary.
People who know me can’t believe I went on the show and to be honest I still can’t believe it either, it was totally surreal. But it seemed such a golden opportunity that would bring me so much closer to my dreams of being a leading name for Irish craft and design.
When you see a chance to manifest your dreams you just do it even if it is nerve wrecking. I took a risk putting myself out there but thankfully it paid off.
It was a really good experience entering the den, and the feedback was really positive. The dragons loved my work and although it was tough and some dragons felt the giftware market was flooded, they were all very nice and respected my choice to keep my business handmade in Ireland.
Although four dragons opted out, I was delighted when Niall O’Farrell made the offer and saw the potential in my designs.
My gut feelings about Niall were right.
He is a down to earth guy and honest.
We are on the same wavelength in terms of where we see the business going and he respects the fact that I am the creative drive and name behind the company.
It is great to have Niall’s practical experience in business and marketing.
We are working on branding and packaging at the moment and I have already increased my order numbers.
I am working on a new commercial range and plan to attend some of the larger trade fairs in the UK this year. I am proud of myself for what I have achieved by going on Dragons’ Den.
It’s been such a positive move to have Niall on board and I am very excited about the future. I am not sure RTE fully appreciates what it is doing here.
Dragons’ Den is not just an entertainment show. For me I know it offered a life changing opportunity.
And for a young ceramics designer trying to establish herself in these difficult times to be given the opportunity to tell my story in Ireland’s largest selling newspaper is just the type of lifeline a start-up business can only dream of.
But I am not dreaming. I am on my way to achieving my dream and all I can say is Dragons’ Den will prove to be the difference between struggling and thriving.
karenmorganceramics.com info@karenmorganceramics. Telephone: 086-1663691
Programme Five
That was another great show tonight. I know you’d expect me to say that, but remember it was last November when some of those people were in the Den, so it is fascinating for me to see how they came across on TV.
Brooke & Shoals Fragrances
Let me start with the last item on the show, which was Alison Banton presenting her Brooke & Shoals brand of fragrances and candles. She has a very solid track record in marketing and had a very nice concept. I was genuinely interested right up to until she got her first offer. Sean offered Alison half the money but for 25%. Alison’s reaction was to immediately argue the percentage. I see this happening all the time in the real world. It is a common mistake. When someone puts money on the table, firstly, ALWAYS thank them graciously, then explain it is just not enough and talk up the price. Likewise in the Den if someone makes an offer of half the money your priority is to get another Dragon on board. Don’t start negotiating the percentage just yet. Can you get another Dragon on board? Then you negotiate down the size of shareholding. But I can only imagine how tough it is in the Den and remember the Dragons are masters at negotiation.
I shouldn’t pick out one – but Sean Gallagher is brilliant. In the Den Séan is always flirting with Sarah – well actually all the females in the Den. But Sarah likes him a lot. In fact, I feel like a gooseberry at times sitting between them, but it is all done in the spirit of great fun.
Sarah comes across as this real ball breaker on the show but she is great gas and is well able to put Séan is his place. I only mention all of this because I believe they will work really well together with Alison and I wish all three of them the very best with Brooke & Shoals Fragrances.
Karen Morgan Ceramics
At the very start of the show we had Karen Morgan presented us with her beautiful pottery line. Scalability is very important to me in an investment, so I was never going to spend money here. However, I knew from the moment she walked into the Den that Niall was going to invest in her ceramics. I like to think Niall and I share the same love of the finer things. His home is private so I don’t want to say too much about it, but you only have to visit it to see that Niall has a talent for design and finish that is exceptional.
When we are out together for example in a restaurant, he will always spot some beautiful ornament or comment on a wall hanging. I love inventors. Niall loves designers. You will have noticed Karen got off to a shaky start and wanted to start her pitch again but who jumped in to tell her to relax – Niall. Once she said she was a designer and proved she was a talented one, Niall was going to give her the money.
The Water Guardian
That brings me to The Water Guardian and Niall once again. If your prototype doesn’t look right Niall is going to be critical. In fairness The Water Guardian was a good product idea but Niall thought it looked like a soggy toilet roll and that was that – he was out.
Anthony Walker
I loved Anthony Walker the New Yorker who was a great talker, but valuing plastic bags at €1m was a shocker. His idea was so good everyone will copy it but the Dragons didn’t think it was investable.
Brian Boru Sauce
It was like the battle of Clontarf all over again. Bobby Kerr did not like the Dane’s sauce.
Another Golf Idea
What is it about golf, that it keeps throwing up so many ideas? The one thing we learned from this item is that there is loads of sex going on in golf clubs – that is according to Sarah Newman.
20 For Out
I am always a bit disappointed when some presentations from the Den only get a short airing TV in the end. Joe and his daughter were lovely people and presented so well. Yes, I know they didn’t get an investment but I thought their item deserved more airtime.
537,700 Viewers
Thanks for watching the show. 537,700 watched last week. The numbers are going up every week, so thank you for all the support and again I promise I will try to answer all your queries.
Next blog, as usual, on Monday morning. Bye.
Between Recording & Broadcast
When speaking at conferences, the question I am often asked is what happens after the promoter(s) have left the Den? When does Due Diligence take place?
TanOrganic, which featured last Thursday night, was recorded the first week in January. As soon as I have made an investment I am in contact with the promoter straight away. They are often surprised to get a phone call from me at about 6am the next morning as I drive to Rathfarnham from my County Meath home. Within ten days I will have organised a strategy workshop aimed at establishing the best way to achieve the product’s full market potential.
This will be attended by all my other DD investments. There is a lot to be learned from meeting people like Donall O’Connor, Michael O’Donnell, Kate Hyde, Michael Connolly and Damien McGrane, my investments from Series One. They have some great advice and insights to offer as they have all been through the DD experience, successfully bringing their products to market.
At this stage we do NOT have any footage from the Den so I have to tell the assembled experts how the pitch was made and how strong I think it will come across on television. So, for example, I told the group on the day we were focusing on Herbie (of Toilet Pipe Cover fame) that he would be the star of the series and it has turned out like that. Not only is his product brilliant but everyone loves Herbie.