Business ideas have come forth in their various forms, dynamics, and platforms. And a few of them have been remarkably interesting to the dragons. The dragons oftentimes have recognized the immense potentials of a few business ideas, which somehow fell short under analytical scrutiny. However, a few business ideas have made the dragons move their markers towards the pockets of the pitcher, based on several parameters. They have made certain pitchers very happy indeed, laden with an overloaded bank account flowing the dragons’ money.

First of all, let’s attempt an examination on some ideas, products, and business that didn’t fly and why; let’s amuse ourselves with the highlights of the show so far, and amuse ourselves at another man’s expense:

Miscellaneous

One pitcher had presented an idea about selling energy. He asked for 30 million naira, but when asked how he has planned to spend the money, and how far he’s gone with the project so far, his response wasn’t convincing, which prompted more questions and remarks like, “I don’t even know what you’re selling” one dragon had asked, and when the pitcher replied, “energy”, the dragon then asked, “what stops me from selling energy myself?” before concluding, “I can’t clearly see your business edge over your competition from everything you’ve laid out” and another dragon had asked him, “so far, you’ve accounted for the proposed use of 20 million naira…what are you going to do with the other 10 million naira?” and the pitcher had replied, “I budgeted 10 million naira for miscellaneous”, and this was considered hilarious by the dragon who retorted, “what is miscellaneous? Is buying a new car for yourself miscellaneous?”

And that was how this miscellaneous encounter cost this pitcher some miscellaneous expenses.

Paid in Full

This interesting pitcher presented an exciting idea, which was actually an I.T related product to the dragons and asked for a whooping 8-figure investment from the dragons. His idea was backed with a functional plan for its execution, and basic operational nervous system required for the launching of the product to the public. This northerner was able to tell the dragons where the money was in the business. He was also able to demonstrate the functionality of this mobile-driven technology to the satisfaction of the dragons. And when he was asked, “how much will it cost you to get the information you need to broaden your database?” by one of the dragons, his response was curt and clear. And instantly he attracted a whooping investment from the first dragons, who happened to be the expert in that field…this dragons interest in this idea inspired the other dragons to invest. And in the end, this pitcher raised all the money he had asked for from all the five dragons, meaning that he had just employed 5 globally-renowned business moguls on the board of directors of his company. They were bringing not just their money, but their expertise and experience to his business. He shook hands with 5 millionaires…yes…he too was a millionaire now!

So, I guess the trick of the bottom-line is win one dragon over…no, sorry, win the dragon with the most experience in the field of your proposed business, and watch the other dragons squirming for an opportunity to get on board!

You too can face the dragons…and walk home a millionaire!

I remain your trusted eyes in the den.

–The Den Sweeper.

I feel compelled by my love for you, to let you have a little background info on the dragons you’d be facing in the den, but I seriously recommend that you keep this revelation strictly between the two of us.

You have five dragons…

From different backgrounds…with different levels of experience…from different economic sectors and industries…they are different in character and fields of expertise…but they all have a few things in common:  they’ve all amassed immense wealth and achieved huge levels of success in their respective fields; they all have a unique success story; they are armed with very analytical minds and sharp business intuitions, and they are ready to invest in your business or idea:

One of these dragons is a household name in the broadcast media industry in Nigeria and indeed the world; in his early 50s, he has more than 30 years experience in the media business…he’s risen from the ranks of radio and TV presenter, reporter, news anchor, and news editor for the biggest broadcast network in Africa to occupying an enviable position as the owner of a burgeoning broadcast media outfit respected terrestrially and internationally. He is well-travelled. His analysis of any proposed business provides the pitcher with an itinerary for attaining great heights in business. He reeks with the aura of a motivational speaker-challenging and inspiring any young mind with his meteoric rise through the ladders of a highly politicized industry.

One of the dragons is a digital age entrepreneur who became a multi-million pound sterling millionaire at the age of 24 for a mobile-phone driven technology.  His passion for music and I.T encapsulated in a synergy of wealth and prominence made possible by his dexterity in running a cutting edge 21^st century mobile-technology service delivery company. This dragon is an exponent of inter-personal skills, upholding the belief that your product or idea is only as good as your personality.

One of the dragons is a brand name in the marketing communications industry with over 35 years experience in the African advertising environment. A new generation entrepreneur, with a fresh approach to emerging business challenges. He has amassed so much wealth and success by positioning his advertising company as a company devoted to providing unequalled and unrivalled leveraging platforms for its clients to reach the core of their target, and generate great revenue from doing so. He is very persuasive, and upholds the virtue of compelling and convincing persuasion. When you meet him-be sure to observe the cardinal rules of advertising.

One dragon is a venture capitalist who understands the theories, mechanics, and applications of money in the business world. She has vast experiences in negotiating global money matters and designing modules that drive more profits for businesses. She has also has a background in computers. She has years of experience in equity investing, and holds a keen interest in emerging markets. She holds a MBA from one of the world’s most prestigious business schools. Her mind works like a portable computer, analyzing numbers and figures at the speed of thought.

One dragon is a prince whose last name inspires awe and respect for the business savvy associated with his lineage. Let’s say he inherited a well-seasoned ability to make fortunes. Young and successful, with a background in engineering, and an expanding experiential resume in investment and portfolio management, petroleum, and agriculture, this dragon represents the new breed of African entrepreneurship with many business pies on his dining table. He sits on top a conglomerate that has grown in reputation as a vibrant provider of essential commodities and services across Africa.

I hope this prepares you…Good luck!

–James Amuta