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?
Do you mean this?
I saw the same programme the guy was an idiot! £300K profit per year and he
was looking tosharfe it!!
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" ?
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!
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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