Christopher V. Flett

I have assigned a class that I’m teaching (CampusCEO) at UBC to watch Dragon’s Den (CBC) and Shark Tank (ABC) and report back on what they are seeing business owners do during funding pitches. These shows should be mandatory for ALL business professionals. There are some good lessons to be found in these programs.  Here is my commentary from this week’s Shark Tank.

Lipstick Woman: Awesome idea. Barbara got girly and started to pout when two of the sharks tried to muscle her out. Her good sense let her bypass the emotion and wiggle in on the deal. She had to have the infomercial shark in on this deal and if I were her, I would have given up 90% of the company, just to have 10% of a product that is selling on QVC. Remember that she had sales only of $6,000.00 and was doing valuation strictly on potential.

Captain Ice Cream was a captain twat. He makes not money, but wants to franchise. Goes to show that you don’t focus on the money, you’ll get ripped apart. The Sharks hated this guy and I did too.Plus, there’s something creepy about a middle aged man selling ice cream to kids.

Cafinator: I loved this guy, but he took a stupid deal. Dumb, dumb, dumb. He allowed them an option (that they didn’t pay for) on his idea. IF the company can sell, the dragon (Kevin) can buy into the company. It’s like letting someone drive your car without making payments, paying for gas, or insurance. This guy was a great presenter and I like the idea of playing the different sugar suppliers off each other. Good idea, but his novice experience showed through by allowing someone to have control of his company WITHOUT any money.

Coffee Lawyer: Obvious brain injury or something on the part of the husband. He’s giving legal advice but can’t remember what the hell he does or his presentation and needs her to prompt him. Wife is a bit off as well. They don’t know what the hell they are doing. This sucks.  Wife gets pissy because she feels like she is being criticized. The husband and wife are talking over each other. They keep on eroding their presentation. The sharks are ripping them apart. This is a car accident. The sharks have no intention of funding them.  They are just playing with them. For a franchise to work, it has to have the support system in place.

The only good deal was the first deal. A woman who has worked it, shows a gap she fills in the market, and is committed to making it happen. Worth the one hour.