Get ready for Kingston University Dragons’ Den!

dragons den

The purpose of our December Dragons’ Den is to give you an opportunity to evaluate if your business idea is something that is wanted by your audience, is capable of making a profit and possible to accomplish in the time given.

You will present to your classmates as well as a panel of experienced professionals acting as judges. All teams must be present for all presentations.

To prepare for the Dragons’ Den, you will complete the Bright Ideas competition entry form as your feasibility study and submit for competition AND on Canvas by 23:59 on 1 December. Over the years, teams in this module won £1000s in prize money with this assignment, so it may be a source of funding for your business if successful.

The feasibility study will not be marked as it is a formative assessment, but you will get real feedback from real experts, so do your best!


Here is what you need to know to prep for the Dragons’ Den:

You will have 5 minutes (and not a second more) to present your idea. You can NOT use slides of any sort. We like prototypes, posters and props –  you can bring anything you want as long as you bring it on your back!

You will be “marked” on each category on the Bright Ideas form:

1) Elevator Pitch
Did you clearly explain what you are selling, in a compelling and direct way at the start?

2) The need or problem you are addressing, & the target group
Have you provided key information about the problem or need you have identified, and the market or group of people who experience the problem? Who will buy/use your product or service?

3) The product/ service
Did you provide an outline of the product/service or project and how it meets the identified needs of your market segment? How does it work? What are its key features and how does it benefit the target market?
(storytelling/product demos are useful here!)

4) Alternatives & Competitors
Did you demonstrate an understanding of who your competitors are? Did you then explain how your product or service is different from what is already available in the market? Did you also explain why customers should buy from you, rather than your competitors?

5) Market entry
Did you explain how you will attract your FIRST customers? How will your product/service be made available or distributed to your target market/audience? What longer-term plans do you have? How could it expand or grow?

6) Overall Presentation
Did you, as a team, demonstrate excellent presentation skills needed by entrepreneurs? Will the judges remember your presentation?

Here is the feedback sheet that our judges will be using: dragons-den-feedback-sheet-stage1-2019


IMPORTANT:

Know and understand what your business is and what it does really well. Judges are people, too – don’t bore them, engage them.


Make use of the Bright Ideas Guidelines and think about your financials – judges are bound to ask questions about costs and where you are getting the money from. Be prepared for those questions.


Practice, practice, and practice your presentation as a team. Each team member needs to say something to contribute to the presentation. You need to look and sound coordinated as a team. Show that you are all playing your roles on the team. Also, decide how you are going to answer judges’ questions. What questions do you think they will ask you? Practice.


Avoid business management jargon. Don’t lecture the judges on theory. It is annoying and you will trap yourself. Judges know what it all means far better than you do. You don’t want to find yourself answering questions that you don’t know how to answer.


Bring your product, or your prototype if the product isn’t ready. Think when you are going to show it to the judges.


Dress to look the part. Dress to look like a team. For some teams, this will mean dressing formal, but this dress code may not be appropriate for all teams – it depends on the sort of a business you are. In any case, look like you are serious about your business (because you are, right?). You will also feel better and more confident if you look the part.


NEVER argue with judges.  LISTEN. Even if you don’t agree with what they are saying to you as part of their feedback, you should never argue with them. If you have something smart and valid to reply – great, but please keep calm, and stay polite. Dragons will mark you down if they think you have issues with your attitude. They need to like you, not only your idea. You are selling yourself to them as much as you are selling your idea.


Have fun. SMILE.


Mobile phones off & away. No exceptions.


You will present to your peers as well as a panel of judges. All teams must be present for the entire Dragons’ Den session because this is a learning session. No exceptions – thank you. 


See you all in our team meetings and on Friday!

 

Photos from the Kingston Business School student start-up trade fair

Congrats to all teams and many thanks to the judges!

Congratulations to teams SKKT, Snac4 and Promazers for their achievement!

Photos from the Kingston Eden Walk trade fair coming soon!

Get ready! Mock Dragons’ Den this Friday

The purpose of the Mock Dragons’ Den session this Friday is to give you final feedback on your presentations in preparation for the Final Dragons’ Den next week.

We will use real marking sheets and the feedback you get from judges should help you polish your presentations for the Final Dragons’ Den. This will also help you improve your business reports where more clarity or info is needed.

Please note: this session is compulsory for all. 

Here is the plan of action:

–> Each team will have 6 minutes for their presentation + 10 minutes for questions and feedback from judges. You will be stopped if you go over the permitted 6 minutes.

–> For Mock Dragons’ Den this Friday: we assume you will be working on your presentations so to allow you extra time, bring your presentation on an USB and don’t forget to upload to Dropbox as a backup copy.

–> For Final Dragons’ Den on 17th:  ALL teams must send me a Dropbox link to their presentation BY 10:00AM on THURSDAY 16 March. This will be your final version, and no changes can be made on Friday. ALL presentation will be accessed from USB sticks I prepare for the day to keep us on schedule, and to avoid logging in/out and any tech problems. 

–> Please take note of the schedule below:
ALL  teams need to be present for all presentations in their designated rooms. 
MOCK DRAGONS’ DEN 10 MARCH 2017

6 min presentation + 10 min Q&A

 

All teams must be present for all presentations

Bring your presentation on USB stick + upload to Dropbox

KHFL0011  KHFL0014  KHFL2007  KHBS1007  KHBS2025
 14:00 Arrival – Please prepare rooms for presentations
 

14:30

 

CarbonX Pantha

(Team must leave after the presentation)

SSAAV Masterly Univeau
 

14:55

 

Catchy Start-up Arabisc Infinity Group 4 Seekers Bright Light
 

15:20

 

PABLO SWOSH C1ean Station Facile ZTZG
 

15:45

 

Black arrow 7Thirthy Dals Innovatio Circulus
 

16:10

 

Neutral The Imparables Shark Hugh Manatee Start Me Up
 

16:35

 

Bluegreen Bracelets 

(Team will be arriving for the presentation only)

Z Company 5 Volts    
GERRY KEEGAL

GAVIN HAYES

ELMIRA MAGOMEDOVA

 

Timekeeper:
ERWAN TOULEMONDE

KESTER KHAN

JOSUE VIVAS

BRIAN SMITH

 

Timekeeper: ALICE COMI

MARTHA MADOR

CLIVE SUCKLING

CHRIS BARLOW

Timekeeper: MARTHA MADOR

MIKE KEEFE

MARK DAVIS

EINAR LINDH

Timekeeper: JANJA SONG

RICHARD ANSON

ROBIN LINNECAR

FRANCIS PREEDY

Timekeeper: RICHARD ANSON

 

17:00 KHBS0026

All teams + all judges – Debrief & feedback


Here is also some advice, based on all the lessons learnt over the years:

–> Be enthusiastic/interesting/engaging – and get to the point! Keep your presentation just under 6 minutes. Script it as you did for the MTCE debates – you all know the drill. Practice.

-> Show images, dress the part, bring your product (bring whatever you want to – if it makes sense for your company!) and be convincing.

-> Do not allow yourself to get surprised with questions from judges. You already know what they are likely to ask. If you are good, their questions will get even harder. 

-> DO NOT argue…don’t even think about it. All humans are biased – you are too, and just because something makes sense to you it doesn’t mean it makes sense to everyone else. 

-> What are you trying to hide? Repackage that NOW so it can work for you – show that you have grown through all the difficulties.

Make sure the judges remember you. And… …smile!!

Please let me know if you have any questions – there’s no such thing as a stupid question and now is the time to ask.
See you Friday, troops!