An idea may be ingenious, novel, and unique but that does not necessarily make it commercially viable. And until you find a way to transform a good business idea into a profitable business plan, you might remain in the island of dreamers; while others who have painstakingly done their homework will trade freely in the Mecca of entrepreneurs and tycoons.

A case in study that readily illustrates this view point would be the presentation by one very interesting entrepreneur in the den.

He practically ‘crawled’ into the den in grossly animated steps, making the dragons and other privileged on-lookers wonder what he had up his sleeves. He walked in with a very ominous aura around him, literally counting his steps as he advanced towards the dragons. It was unusual to see an entrepreneur this sluggish with his strides in the den, when every other entrepreneur walked briskly and smartly. But this entrepreneur was performing a well-rehearsed act of morbid salesmanship.

Finally, he spoke up, jolting everybody in the den back to the present.

He announced his name, and announced the reason why he had come to the den…immediately after which, all the dragons opted out - eager to dismiss the entrepreneur and his ‘out of this world’ business idea; for the simple reason that he had made his idea was as lifeless as his personality and presentation.

He had come up with a ‘brilliant’ idea of how to preserve the memories of dead people electronically. The idea was ingeniously morbid, but his animated presentation made him look like he was just living an obsession with the dead…he just seemed like a mortician trying to get the dragons to invest in his morgue.

So far, dead people had about two conventional and morally allocated abodes; in the memories of their loved ones, and in the confines of a casket (or sometimes in an urn) but no one, before this entrepreneur, had explored the ingenious morbidity of cremating the dead in cyberspace.

A good idea…yeah…but come on, where was the plan?

Like I said at the beginning of this discourse, an idea may be ingenious, novel, and unique but if you don’t find a way to answer the following questions, the idea may never see the light of a business plan:

1. How do I transform this idea into a profitable product?
2. If this idea were a product, who would consume (or buy) it?
3.  Would this ‘product’ debase the sensibilities of those who buy it (or even those who will finance it)?
4. How do I sustain the commerciality of this ‘product’?
5. What is the best way to package this idea without losing its ingenuity?

I know how it feels to be consumed by the burden of transporting a one-in-a-generation idea; I understand the need for discretion and even secrecy, but in this age and clime, the wise ‘ideas-man’ may make himself a millionaire if he solicits the services of a professional business analyst.

Remember, Dragons den is a show where entrepreneurs pitch their ideas to 5 dragons in search of an investment. The advert did not say “Dragons den is a show where ‘dreamers’ pitch their ‘dreams’ to 5 dragons…”

And the difference between a dreamer and an entrepreneur is simple; while the dreamer nurses his idea, the entrepreneur transforms his idea into a good business plan.

See you 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