The second entrepreneur, Emmanuel Achukwu barely escaped being scorched by the infuriated dragons who felt enormously insulted by his bizarre demand for 5 million naira in exchange for 60% equity in a company that  would specialize in writing business plans for other businesses when the business plan he had presented to the dragons for this business was, as deduced from the dragons, marred by an overwhelming and nauseating dose of mediocrity, incompetence, and severe lack of any fundamental knowledge in the art of business writing.  However, Alexander Amosu prodded on, asking if he’d done his research on who will comprise his clientele, to which this entrepreneur revealed that there were over 1, 500 potential business clients available- Alexander Amosu fired back, wanting to know why Emmanuel felt these businesses would come to him – and Emmanuel remained mute. Femi Tejuoso soon discovered that this young man had committed yet another big blunder in his stillborn project by failing to categorize his own plan appropriately. Chris Parkes soon discovered that the last page of Emmanuel’s business plan was upside down. At this point, Femi Tejuoso could not hide his dismay, “I’m starting a new business, which is a campaign to prevent people from getting into trouble with such ( ill-advised, and badly written) business plans.”

John Momoh attempted a few words of encouragement, “go back home, do more work, and try again…”

But Ibukun Awosika was more forthright with her closing remarks, “please don’t try again. Go back to school. Make yourself more qualified to do this kind of work- but for now, you don’t have a business”

The third entrepreneur, Alao Olatunji was bubbling with the idea of starting what he dreamt was a ‘Modern Day Carwash’, and in order to turn his dream into a burgeoning enterprise  he unwittingly requested for 31 million naira in exchange of 70% equity in his business, without adequate research to support his claims that the business would flourish, coupled with the fact that he was temporarily unable to convince the dragons that investing in the business wasn’t as risky and as foolhardy as drilling for water in the Sahara desert. During his presentation he had revealed his plans to roll out a bouquet of car-washing services under the glam titles ‘Flexi’, ‘Supreme’, ‘Instanta’ etc. He pegged the prices for his services at N1, 000. However, at some point he seemed to be communicating his idea effectively until when he proved unable to respond satisfactorily to Ibukun Awosika’s question, “what seperates you from the others at filling stations?” If this seemed like bad news, it got even worse, when it was discovered that according to his business plan that investors were not to expect returns on their investment for at least 3 years.

“I think you’re going into shark-infested water…I suggest you stick to the manual option” Chris Parkes suggested.

“this is a high risk business” John Momoh revealed.

And it was out! Out!! Out!!! For all the dragons.

Phew!