Christopher V. Flett

God damn it! I love this show. There is NOTHING more in line with how investors look at companies that this show. I tell every young person I know that this needs to be part of their weekly routine. It is a no nonsense view of what the big boys (and girls) talk about when discussing a deal. Here is my commentary on tonight’s ‘pitchers’:

Deal #1 – Sock hat company

Two guys are a bit cocky. What they are missing is the understanding of manufacturing, full scale retail development, and a web presence. I think this might be a company that is simply looking for the publicity rather than the money. They joked in the back room about going for Champaign at the Royal York. Guys, you might be going for Champagne, but begging for money on national television and getting shot down isn’t something to be celebrating. Robert was right. Apparel is hit or miss. If it hits, it can hit big. If it misses, the money and time are in the toilet, but at least you can wear your failure to keep warm in those nights living in your car. Who should they have tried to line up with? Arlene

Would Flett invest? Not time or money.

Deal # 2: Microwave Slippers

I liked this idea, the valuation was fair, but the family wanted a knight in shining armour to come in, take over running the company and pay them. The kids weren’t committed to the company as they didn’t want to work in it (this isn’t bad, but don’t sell it as a ‘family company’ then). Their sales are decent, but leave it to Bret (who is much too charitable and thus must be too rich) to give them a SWEETHEART deal. What I did like is he said, “I’ll give you some money and a line of credit, but I won’t give you my time. Lesson my friends: Time and connections are worth WAY MORE than money. You can get money from the bank. Running with a big boy (ie. Bret or any of the dragons) is your best investment. (p.s. they had a nicely put together presentation).

Would Flett invest? Money, not time.

Deal #3: Theme Park

#1. Who wants to build something in Aurora? They guy was a bit of a douce to Bret which isn’t a good way to start. Then he became a douche with his cutout model with retarded colors behind it. He is a laughing stock. Who lets their friends on television? Arlene is hilarious. He’s got notes written on his hand. This guy is high on BC Bud or something. He reads off his chart. HORRIBLE PRESENTER KILL HIM AND THEN KILL ME.  The building will cost…wait for it…1.4 Billion dollars. Kevin thinks he’s a retard and he’s right. Jeffrey (the presenter) thinks that the world only has 3-6 months left. Hopefully his spaceship will come and pick him up before that.

Would Flett invest? I want those five minutes of my life back.

Deal #4: Tree Saver

“One Sku Sue” has sold 20,000 units and has distribution. Big deal. Not that hard to get.  She has valued the company at 2.5 million…RETARD. Her idea isn’t a bad idea. Her sales were $400,000. Evaluation is about 5x what it should be. People need to be realistic with the ask. Bret offers 250K for 50%. SHE SHOULD TAKE THAT DEAL! Kevin offers her a royalty deal which would also work for her as Kevin would pimp the hell out of it to make a good cut. All she will give up is 20%? She’s a bit crazy I think.

Would Flett invest? Nope, no, nay, umm no.

Deal #5: Yingle Stick

This is a sling shot stick with beer caps that hit each other and make noise. He and I are both from Nova Scotia. After watching this, I’m telling people I was born in Alberta. Jesus. Quote of the night: Kevin: “This is the true definition of poo-poo on a stick.”

Would Flett invest? If you have to ask, quit reading this frigging blog.

Deal #5: Let’s Dance Board Game

#1. one of the better presentations of the night. #2. I love entrepreneurial kids. #3. Frigging cute!

Second best quote of the night: Kevin (said with distaste): “I’m not doing any dancing…it’s bad for my brand”. People will think Kevin is a dick because he’s asking them tough questions, but these kids need to be treated like anyone else and I love that. He isn’t talking down to them or patronizing them. He is talking to them like they (and he) are serious. “I don’t want you to waste you time girls…it’s really hard to make money in the board game business.” When Robert says that the girls should listen to Kevin because “he crushes people’s dreams.” Kevin laughs because he thinks it’s funny. Maybe I was the only other guy laughing, but I love it. Bret gives them $500 to build some games to sell.

Would Flett invest? I’d do the $500 because I’m a sucker for young entrepreneurs.

Overall, not a great night of pitches on Dragon’s Den. My money would have stayed in my pocket and my time doing other things. Now piss off, quit reading this blog and go build your business model.

1 comment

I wanted to make a statement for all the business professionals out there that are getting more and more frustrated with poor cell phone manners. It is time for the pikers of the business world to get over their belief that they are important. Unless you are a trauma surgeon, a first-response paramedic, or in some other position that manages life and death…you don’t need to check your Blackberry/PDA/iPhone during a meeting/presentation/lecture or other business event.

I remember being the first guy on university campus with a cell phone. I’d walk around with it in my hand to make sure that people could see that I had it. I was a total douche, but to my own defense, I was 19 and cell phones were the new hot thing. Now I see people checking their email during our meetings and I think one thing…why am I sitting here? I’m not talking about people looking to reference an email pertaining to the meeting, going through a digital agenda/checklist. I’m talking about people that need to check their phone every couple of minutes just to make sure that the outside world can reach them. Notice to these people. No one is impressed by you being a ‘bitch’ to your communication piece.

I remember the story of a media mogul. He didn’t have a cell phone nor a watch. When asked why he didn’t have a cell phone, he said that if someone wanted to get a hold of him, they could call his assistant and she would come and find him. He didn’t wear a watch because he didn’t have to keep a schedule for anyone but himself. This is a man in power of his business life. Now we look at the individuals that waste my time by looking at their phone/pda while in the middle of a meeting .Then they wonder why I try to get out of the meeting as quickly as humanly possible. If you can’t put your phone down for a one hour meeting, you shouldn’t be in meetings. You aren’t a mogul, you aren’t important, and you aren’t impressing anyone. What you are telling people is:

• You think you are more important than you are
• Any email that might come in is more important than our time together
• You are controlled by technology rather than having control of technology
• You shit the bed so often that you need to have your phone on so when one of your fuck-ups comes to light, you can quickly defend your actions

In January, to start a new year off with a bang, as soon as I see someone checking their voicemail,email,text, etc during a meeting, I’m going to excuse myself and find something else to do. Remember that you can’t control how others act, but you can control interaction. Oh and I should add…it isn’t ever appropriate to take a phone call in a restaurant or movie theatre. If I am in a restaurant (by myself) and a call comes in, I leave the table and move into the lobby of the restaurant so as not to disturb others. It’s called courtesy.

So now that you know, you can’t unknown. When you answer a phone, check your email, or text someone during a meeting, the person across from you might not say it, but they are thinking you are a douche.

4 comments

Ladies, I need to tell you something. Everytime you tell people you work with what your husband/boyfriend thinks about a situation in your work life, you make him look like a douche and yourself like a weak woman who needs her man to explain things to her. This week, I have heard no less than 11 women talk about a situation in their business life and then justify their position by saying what their husband/boyfriend thought.

Example:

“I really felt that I was treated unfair in the deal. I didn’t get the percentage that I wanted and was hoping things would have turned out differently. Bob (husband) agreed and said that I should have stuck to my guns and asked for more or walked way.”

So on hearing this comment, my natural curiosity wonders what Bob does for a living. The woman sharing the story is an established entrepreneur so I’m assuming Bob is a business owner, business lawyer, accountant, business developer, sales rep, sales manager, or investment banker. Bob’s feedback must have value if it is confirming her position. So I ask…”What does Bob do?”   “Oh…he’s a produce clerk at Save On Foods.”

Are you shitting me? You husband stocks onions and you are bringing him up as a reliable champion for your position? You husband is the manager of fruits and vegetables. What the hell does he know about putting a deal together. Never having the guts to run his business, he gets to be co-captain and give his two bits? I think not. When you bring up your husband/boyfriend in a business setting, please make sure that he has accomplished something other than lining up all the new potatoes in a neat line. Do you know how foolish it looks to bring him up in a ‘real-world’ setting? If the conversation was around how to keep herbs fresh in the kitchen, Bob’s your man. But when it comes to business, if your husband hasn’t achieved anything in your business sphere, don’t bring him up.

I know, you are proud of him. He’s a great guy. Funny. Likes to watch America’s Next Top Model with you. He is supportive, likes to give you feedback, and wants the best for you. But in business, he has no value at the discussion. If you are the business woman, be the business woman. Unless hubby/boyfriend is an ‘expert’ in the area of the conversation, don’t bring him up. It makes you look weak, and your peers will lose respect for you. It happens to me everyday. Someone I know will be having a problem they want to discuss. Then they tell me what their husband/boyfriend thinks they should do. At that moment, I lose a bit of respect. If he is a lawyer and its a law issue, let’s hear what he has to say. If it is a business development issue, and he works part time as a free lance writer, its best for you to keep his comments to himself.

In business, there are many arm chair quarterbacks. They will all have opinions for you and unfortunately, you have a hard time avoiding them. But let the madness stop there. When you regurgitate their idiot comments (ones which they have now foundation to comment on) you look like an idiot as well.

6 comments

Over the last month, I keep on coming across women who are miserable in their jobs. They don’t feel acknowledged, they feel overworked, underpaid, not appreciated, they work with idiots, their bosses are idiots, and they start to dread Sunday nights. This is not good. THIS IS NOT GOOD! Life is to short to spend time in an environment that you hate. I decided over a decade ago to leave the corporate ranks and start a business. I gave my notice at 1:26PM on a Friday and never looked back. That….was….stupid… I left without a plan and nearly killed myself getting the company up and running. I made it harder than it needed to be because I let my job take me to the brink of desperation. I was in a place where I’d rather lose everything than go into my office another day. Hindsight is 20/20 and looking back now, there were a lot of things I would have done differently. Below is the advice I would have given to my decade younger self when in a position moving towards total desperation in a job.

1. Take some time to ponder what it is that you want to do and then how you can make money doing it. I left my job and started a research firm because it was the only work I knew I could do well. I wanted to do a bit of traveling, learn a lot more about business, and see my work create change. I moved into the realm of Economic Development almost immediately because I followed stories closely (in the media) of things that were happening in my home town. If I had known what the hell I was doing, I would have started getting curious about the role I could play in Economic Development (while I still had a job) and look to create initiatives in the workplace that would serve my boss AND give me skills that I could transition out. I never took time to be curious in my job because I was too busy hating it. I let the situation control me rather than controlling the situation.
2. Talk to people doing what you want to do. The best place to get information on what you are interested in doing is to look at those doing it. Anything from going to conferences, reading websites of those in the market space, doing media queries, attending networking events, and even extending coffee invitations can all give you the necessary pieces to get clear on what you might want to do. Remember though that people lie. If things are crappy, they will make them out better than they are; if they have found a ‘goldmine’ in the market, they’ll play it down. You have to be an ‘investigator’. Put a ‘case’ together on what is happening in that market you are targeting and cross reference, validate, fact check, and do some primary research (where you collect the data firsthand) and start putting the ‘real’ story together in your head.
3. Change your language. I used to say, “How the hell am I going to have the life I want working in this job?” That was the wrong conversation to have with myself. What I should have said was, “What is the ideal life I have in mind for myself and how can this job (in the short term) help me get what I want?” I was so busy being negative in where I was at that I forgot that the company I worked for was riddled in opportunities, I was just to mad/blind/pissed off/head in ass to see them.
4. Make a plan. You control the timing. If you have ever seen the movie “Sleeping with the Enemy” with Julia Roberts, you’ll know what I’m talking about. She is married to an abusive asshole and thus decided to make her leave. She starts stashing money, takes swimming lessons, and prepares to make her move when the timing is right. Then she creates all the opportunities required to make the transition. This is smart and something I didn’t do. I quit and then figured out what I was going to do, how I was going to do it, who I was going to do it for, how I was going to fund it, etc. I made it harder than I needed it to be because I didn’t take time to plan. If you are so miserable where you are at, then put in some time to coming up with a plan to make your exit. When the plan feels right, the planets align, you get a ’sign’, whatever, you can make the leap knowing where you are going to land.
5. Put your plan into action. Start taking the steps to make it a reality. Good ideas are a dime a dozen and there are many poor souls that are retiring at 65 (from jobs they hated), that had a great idea in their 20’s. The difference between a visionary and a dreamer is a visionary puts their dream to work.
6. Find an adviser. Find someone that can quickly push you to the right model and guide you over the speed bumps. I hear women say all the time, “I can’t afford to have a business coach/personal coach/business adviser work with me.” Ummm….you are selling your soul each day you go to a job you hate. A couple of hundred dollars a month isn’t worth it for you? Getting good support isn’t thousands of dollars a month. It’s a couple hundred dollars. Probably less than you are spending self-medicating your shitty situation with shopping/martinis/travel/Jimmy Choos. What’s your life worth?
7. Start today. Women are too loyal. I recently had a colleague that was thinking about jumping from a shitty job into her own business, but her nerves/fear/life got in the way of it. She decided to forgo the dream and stay in her shitty job because she is: loyal/responsible to her family/nervous it won’t happen/etc. None of this is wrong but I know in time, it will be a decision she will likely regret. Shitty jobs and business situations rarely fix themselves. When women are considering a change in life, they think of how it will effect everyone else first and then themselves. This is a dangerous game to play in that you always come in last and it’s from your own doing.  I hear women bitch and moan about their jobs and I always ask, “What are you doing to change things up?” The answer always is, “Nothing right now…” Well princess, life isn’t shit and giggles. It is up to you to make it what you want it to be. With the right plan, passion, direction, guidance, and effort, it can be exactly what you want, if you claim it.

Take a step today. Don’t waste your bosses time googling stuff when you are supposed to be working, but look at how you can best use your time/resources to move yourself to the next level. Here are some quick suggestions on how to make that happen:

• Start attending and and all networking events with an intention to build your professional network
• On your lunch hour, start doing some research surrounding your ‘dream work’ and start making a business case for yourself on it. Be discreet!
• Start learning everythign you can about the thing you want to do. If you want to be a professional speaker, go see speakers, read the blogs of speakers, talk to event planners about how they hire speakers, read books on building a speaking business, track speakers that you would most like to model, work on topics you would like to speak about, make a list of the top characteristics of a great speaker, and so on.
• Commit 4 hours a week to developing your plan. This could be sitting in a coffee shop, talking with mentors, interviewing people in the market you want to enter, reading websites of companies doing what you want to do, etc. Invest in you and you’ll always get a return.
• Find a coach. If you have personal shit in the way, work with a personal coach. If you want to build a business model or make a career leap, find a business coach. It is  important that whatever model you consider, it must feel ‘right’ for you. Sometimes a coach might be the only person you are completely honest about your goal with. Interview a handful of coaches and choose the one that ‘feels’ right for you.

It isn’t about you ‘cheating’ on your job. It is about you cheating yourself out of the life you want. Time is precious and you are never going to get today back. Once it’s gone, it’s gone. Consider how you are going to make 2010 exceptional for you and what you need to have in place to make it so.

Best,

Chris.

6 comments