What it’s like going on Dragons’ den
I’m writing this blog post about two and a half hours before the episode of Dragons’ Den (the UK version of Shark tank… or perhaps Shark Tank is the US version of Dragon’s Den) I filmed for FixIts with Chris Lefteri airs on BBC One. I’m certainly not brave enough to watch it live or maybe even watch it at all. But I did think it would be fun to write up about the experience for anyone who’s curious to know or who wants to go through it themselves.
And, if you want to watch it then you can see it at the end of this blog post!
The application
When Chris told me FixIts was going to apply for Dragon’s Den I was quite surprised as the production team had reached out before one or two years prior to apply and the idea of going on was not yet what Chris wanted to do; perhaps the second time they had been far more persuasive (and well we’d learnt from a previous BBC show we’d done that PR like this was immensely valuable). I hadn’t assumed I would be part of the pitch but from early on Chris asked me to come and support him on the show if we got on.
The application started approximately 9-10 months before filming and involved (to the best of my recollection) several phone calls with the production team, one or two recorded video introductions for the producers, sending of product samples and the compiling of everything financial and legal that one would need to do their due diligence on a company before making an investment.
I don’t exactly recall how long the wait was to find out if we’d been selected to be on the show, but I do remember it being an incredibly long wait and both of us assuming that FixIts hadn’t made the cut… until we had and then we had a pretty short period of time to get ready for the show as both Chris and I could only make the first week of filming in Manchester on the 11th of May (I recall they film for 4-5 weeks).
The preparation
Once you know you’re actually going to be on the show, it all starts to get a bit more real. Chris and I had to work through all our numbers several times from our various platforms (finding several indiscretions along the way that we had to correct); jumped on many calls with FixIts’ accountant who was a great help running through our numbers and story (although I do wish I’d pushed back harder on how he’d worked out the gross profit because it didn’t make sense to me); sought advice from marketing experts Chris knew; discussed equity vs investment on an almost daily basis and everything in-between all this. So so many people helped us as part of this process and I can’t thank them enough for their help here.
Preparation probably became our full time job for around 4 or 5 weeks (whilst Chris ran his consultancy and I ran FixIts). Numbers and our story was changing on an almost daily basis; it was almost a relief knowing that the filming day was coming up soon.
The day before filming
Chris and I took the train from London up to Manchester the day before filming in the afternoon. Spending the vast majority of the rather long journey running through and revising our numbers, pitch, potential questions that could be asked, calming nerves and much more. It very much reminded me of the final days revising before a big exam. We arrived in the late afternoon and headed straight to the film studio to drop off our suitcases of props and printouts we’d brought with us for the show (the vast majority of which wouldn’t be used, but better to bring far too much than too little) before checking in at a hotel nearby.
We continued our work and conversations from the train journey up over a fantastic meal at a tapas bar called Porta; a delicious meal hopefully a good omen for the filming due to start at 6am. We retired to our rooms after and I ironed all my clothes before heading to bed; frustratingly not falling asleep until about 2am.
The day of filming
An early start and straight to the set to meet the production team, set up our table for the show, discuss how we were going to demo the product before heading to hair and makeup. We then waited in the greenroom with a couple other people who were pitching before we were called to do all the pre-pitch shots.
These shots included waiting in the waiting area, being in the lift, walking into the Den and generally being briefed on the whole process. I was completely distracted by the incredible set design, all the hidden cameras, lighting rigs and film equipment. For those of you wondering, the lift isn’t actually real either, you walk in one side, doors close behind you, you wait for the lift to “move” and then you step out the other side.
Pre-pitch shots done we headed back to the greenroom to wait for our slot (which we weren’t actually told when it would be, just were told when it was time to go do it); once again running over everything we had previously gone over on the journey up here whilst trying to calm our nerves.
Then it was go time.
The pitch
The doors to the “lift” open and there they are sitting in front of you. Spaced way further apart than expected (perhaps for covid reasons, we also wouldn’t be allowed to shake their hands if we got investment). The pitch was by no means perfect but we did the best we could and it what it was. We knew coming in that we weren’t going to have the easiest of times; and when you’re doing it live, it’s a hell of a lot harder than when you’re practising. We filmed for about one and a half hours; which will be cut down to 15 minutes or so, but it felt like we weren’t in there for nearly that long.
I have a feeling I know the bits that they’re going to cut into the show; so I want to make it very clear that the Dragons’ were really lovely (in particular Deborah Meaden), offering much valuable advice whilst asking pertinent questions about the product (I was particularly proud of Peter Jones’ feedback on the branding and creative side of things). They have a job to do and ultimately they’re making a show too, it’s understandable that they’d take the hard lines that they do on some things.
Eventually though Dragons’ started deciding it wasn’t for them until we had one left, and if you watched the show, then you already know that Stephen Bartlett made an offer that lined up with our internal goals (he was also the one we felt was most appropriate for us as marketing had been a particular area of weakness). We accepted and walked out of that room to much relief (although I do wonder what they said after we left) and were shepherded straight into a post pitch interview.
The experience in general was probably one of the most intense experiences of type 2 fun I’ve ever had in my life, but I would do it all again (and hope to someday). Even though the day after I was completely drained and had one of the most intense anxiety attacks I have ever had in my life (mainly over the gross profit thing that Peter brought up); I still get anxiety thinking about it sometimes, but also know now that I may have ADHD and RSD. I’m mainly annoyed I didn’t push back on it internally when it was brought up and I disagreed with it; could have prevented that slip up.
Since we filmed
I cut my hair short; I got back into my fitness and lost a load of weight (taking up Pilates and Bouldering); became a Co-Founder of a tech startup with a former colleague and have moved a large amount of my focus to consulting within branding and e-commerce using the skills I have developed over the years to help others whilst I work on myself.
FixIts provided an opportunity to learn as much as I could about starting and running a product based company and Dragons’ Den was a surprising and perhaps appropriate conclusion to my 6 year journey with FixIts; I did my best to take it as far as I could. Even though I was a co-founder, I was also an employee and had limited influence over the direction of the company. I still retain an interest in the success of FixIts, but will have to do that from the passenger seat now.
And now… as promised…
The FixIts Dragon Den Pitch
I will note that since filming I worked on a rebranding and website project with a Private Equity firm who said that this style of investment is probably the most bizarre and least favourable way of doing an investment round given how little material you’re allowed to bring in with you, but they also heavily noted that it’s a tv show, designed for entertainment and normally investments are rather boring drawn out things.
Here’s to the third, and next time, I’m on national TV
