Archive for February, 2011
Programme 2 Preview..
For those who were tuning in for the first time tonight – hope you enjoyed Programme 1 of the Series. On Sunday night’s show – the second of Series 3 we will have a Chocolatiere in the Dragons’ Den. This product has very dainty packaging, so watch-out, it will probably appeal to Niall O’Farrell!
Then we willsee someone working with technology to assist disabled & elderly people in their home.
We see such a wide range of ideas – and certainly this week brings a real ‘left of centre’ idea – which presents itself as a frightening and even possibly intimidating security solution.
Also an inventor paid the Dragons’ Den a visit – claiming he can stop your pipes from freezing in winter.
Did they succeed in securing investments from the Dragons ? – all will be revealed on Sunday night – RTE1 9.35pm ! See you then.
What actually happened tonight? Programme 1
Hi and welcome to my Dragons’ Den blog where I will give the real inside story from the Den revealing what actually happened? This Blog will run throughout the series and then STOP! Yes I am tweeting, face-booking and everything else for the next three months to give Dragons’ Den fans a view from my seat in the Den but after that I am going back to my normal business life.
I won’t be tweeting you this summer from my holidays as I believe you have better things to be doing that listening to the old guff and gossip that usually goes on in the blogosphere.
I will definitely upload twice a week. Thursday nights I will preview the upcoming show and then, like tonight, as soon as the show finishes I will tell you my reaction.
So tonight’s show?
What do you think of our new female Dragon, Norah?
I think she is going to be a big hit. Of course I lost out to her tonight but I had won a few investments ahead of her before this one. Because she is the new on Dragons Den they wanted to introduce her on the first show making an investment.
She is a shrewd dealmaker.
Am I sorry savvy bear got away from me? Well John and Sandra Joyce are a lovely couple. I only met Sandra very briefly at the launch on Wednesday and I had met with John earlier and he is a really sharp guy.
So Norah has invested in a great couple John & Sandra. I always believe the people behind the project are as important as the idea.
But I have to be honest; it would not have been worth my while at less than 30%. Let me explain that. To market a game like this internationally takes not just money but time. To part with €80,000 and to get a return on that would mean a big time commitment.
This week I am in London from Thursday through to Tuesday on TanOrganic business. The 100% natural, organic tan, invented by Noelle O’Connor, featured on Dragons’ Den, series 2 on 18/3/2010, is taking off in the UK.
On Thursday we are meeting buyers. On Thursday evening I am in the Irish Embassy as key note speaker addressing the London Irish Business Association. Then on Friday I am in talks with three big celebrities who want to endorse TanOrganic and become brand ambassadors. I fly home Friday evening but return on Sunday morning to go to Wembley for the League Cup Final, Arsenal V Birmingham and then onto the British Beauty Industry Awards Show that night. I am speaking at the Beauty Spa Association Conference on Monday and later present to the top 50 beauty bloggers in the UK. On Tuesday morning we are meeting with one of the big department stores to see about installing a TanOrganic Spray booth.
The point of all this is to give you an idea of the time commitment to building a rand like TanOrganic. But I know every day spent on this product pays handsomely for myself and partner Noelle.
Back to tonight’s show. When Niall and Norah made a joint offer at 24.5% I could not match it and certainly could not better it so I offered the full amount of €80k for 30%. I was hoping John Joyce would go with a Dragon with a proven track record rather than take a chance on a new Dragon who has not brought any such product to market.
I had given him a tough time in the Den and that probably affected his judgement. He also was apparently impressed that Norah’s kid played Club Penguin. John made his choice.
On the upside though, as I have gotten to know Norah, I think she will be a good backer and mentor. I hope it works out for them and I urge you all, if you have eight to ten year olds encourage them to check out www.savvybear.com.
I think Sean and Bobby made a good investment in Grow Rings. I really liked it but it didn’t fit in with the suite of investments I have in the DIY area so I bowed out.
Bobby is gone to New York with the family this weekend. Norah is off on a family mid term break and Sean just got back from a romantic weekend with his lovely wife Trish. We missed not having him on the Late Late Show with us on Friday night. You can check that out on the RTE Player.
It is good to be back with series 3 and I hope you enjoy it and the insights here. Please do feel free to make any comments. They are always welcome.
Gavin.
Dragons’ Den returns tonight, 9:30pm on RTE 1.
20th February 2011
Dragons’ Den returns tonight, 9:30pm on RTE 1. Be warned – in the first few minutes there is a blood bath between three of us. I cross swords with Niall O’Farrell and our new feisty female Dragon, Norah Casey. Norah settled into being a Dragon instantly. First and foremost she is lady but she can be a bitch disguised with a disarming smile. But I love her and, better still, she has brought her cheque book.
First into the Den tonight is John Joyce, an impressive IT specialist who has created an on-line computer game called savvybear.com. Could this be the next big thing? Certainly John did the most fantastic pitch, so the three of us joined battle to invest in his fledgling business. But will John Joyce accept our offer? You will have to wait and see.
There is a new trend in this series which is that promoters not always accepting the offers made to them. That’s because a better calibre of entrepreneur is coming into the Den. Some have invested their redundancy money in their dream while others have left a good job to pursue it. Either way they are not as likely to give away as much equity as in previous years.
I wouldn’t want to be sensitive – I was turned down three or four times! And while I might think at the time they are making a mistake not wanting me on board, sometimes it is a sign of the single mindedness and vision that gets results. This year Dragons’ Den is followed directly by a second series called Dragons’ Den on Tour. Viewers will see, as we revisit people from series 1 & 2, that many of those who failed to get backing from the Dragons have done very nicely, thank you, notwithstanding the recession.
The Dragons have invested more in this series than they have done previously. All business people are under pressure these days and certainly the Dragons are no exception. I can only talk about myself and say that parting with cash is not something done on a whim in these times. But if my fellow Dragons have spent a record amount of money in the Den this year it is because of the high standard of ideas coming on the show.
Interestingly, in the first show tonight you will see that all five dragons make offers for different ideas that will appear. There are a number of offers and deals made in each show this year which has never happened before and it is again reflective of the standard of ideas being presented.
Sean Gallagher has gone a bit soft though. He is madly in love, having recently married. He keeps asking asking boring questions like, “Would that suit my new home?” On the other hand Bobby Kerr is even more abrasive than in previous years when he doesn’t like someone. Niall is as funny as ever. “I love the logo, I love you, and I love the idea, but I am out.” However Niall makes quite a few investments this series with his heart and not his head. And Norah is a formidable, no nonsense business woman, with a great bit of craic about her behind the scenes.
Personally, I always get nervous when the programme returns to air. With its new Sunday night slot after the news, it is going to be bigger than ever, and RTE has been lobbied by educationalists to repeat it, so it also airs each Thursday at 8pm so students can see it and discuss it in business classes on Fridays. No pressure!
A consequence of doing Dragons’ Den is that we five are invariably described as being successful business persons. The truth is I have had many past failures but I have been lucky enough to survive and learn from them. All we are doing, all five of us, in this awful recession, is trying to send out a message that Ireland is still open for business. For without business and the jobs they generate we won’t overcome our nation’s challenges.
If you were watching Friday’s Late Late Show you will have heard about the success of TanOrganic and Dee’s Burgers as a result of Dragons’ Den. I hope their stories are an uplifting antidote for viewers to all the negativity out there.
To RTE and the sponsor, Bank of Ireland, well done on acknowledging small businesses and the part they have to play in our recovery.
Dragons Den Returns Sunday Night
Dragons’ Den returns to our screens this Sunday night at 9.30pm. Season 3 is fantastic! Follow Gavin’s personal insights here on www.gavinduffy.ie and also in Sunday Independent and live commentary on www.allaboutbusiness.ie
Duffy you’re a Hypocrite!
Independent Group Newspapers 9/2/2011
I have come in for some personal criticism for attending the launch of a Fianna Fáil candidate, Declan Breathnach running in Louth. Again, regular readers will know I have been very critical of Brian Cowen and have long sought a general election. So apparently, according to some, I am a hypocrite attacking Fianna Fáil in Government and then recently attending one of their candidate’s campaign launches. The truth is that Declan is a long-standing personal friend who worked with me for many years. I know him to be a good man, a lifetime community activist, and a tireless county councillor. I make no apology for looking past the party to the candidate on this occasion.
Finally, there is a recurring theme to my column this week. Though our political establishment has let us down so badly, we must still have a modicum of respect for all those who, at least, put themselves before the electorate and give us a choice. So if an old friend, who after many years in the background of his party, gets an opportunity to run for the Dail, of course I am going to respect his request that I attend his launch.
There had been much speculation that David McWilliams and his celebrity friends were going to run as a loosely assembled group of Independents, pompously promising to save our country. When push came to shove, they melted away. They didn’t have the bottle for the battle. Though we don’t give them credit for it, being a politician is tough and in these times almost impossible.
Bad and all as our politicians are, I believe Vincent Browne telling a party leader to kill himself is poor judgement and bad taste. Saying all candidates of one party are all bad is likewise poor judgement. There are just over two weeks to Election Day. Make your vote work by deciding what the candidate will do for you, the constituency and the country. Good luck, as you try to decide who you will get your number one in possibly the most important election ever.