Just finished watching the repeat Dragons Den where the bloke invented a box to house the electrical choc connectors. He has made £250,000 profit in one year. I wonder how many of you electricians wish you had thought of it?
ken
Do you mean this?
Cheers
John
He made it clear that it wasn't the money he was after but the Dragons' expertise and networking although I'm sure the free TV publicity was quite an incentive. No matter how good the idea, it needs a lot of skill to get it to market before someone else comes up with a similar idea, how easy is it for an inexperienced inventor to get the attention of the "big boys" ?
Phian
I was meaning he was an idiot for wanting to share it! I heard all the bits about wanting the Dragons expertise etc. but I thought he was doing OK on his own. I am sure with a bit of hard work he could find the next level of "route to market" and make more money for himself!
Cheers
John
Or perhaps look at it another way. He gets the expertise of the dragons plus their contacts. He gets UK wide exposure of the product and no doubt european and worldwide exposure as the program is sold on. How much easier can he make expanding his business? Maybe he doesn't want the hassle of learning all these new tricks for himself, nor the risk/cost/hassle of engaging others. This way around he gets proven expertise/contacts/exposure with little risk. I agree it's cost him a substantial share of his company, but where will it be five years from now? He has the dragons working for him to protect their investment and maximise all of their profits.
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