Dragons’ Den is now a popular TV show all around the globe. You should use the format for a winning lesson – I usually find that it is great fun and the students really enter it. So what do you will need? Below is a short explanation of the show, followed by a job-play activity and the normal questions the dragons ask.
Students take it in converts to be the dragons or the people pitching to the dragons. Alternatively you can show them the 2 2-minute intro to the show to establish the framework. Video here. Full text message below. If you want a lead-in you can get the students to discuss in groups the best innovations of the 20th Century.
Then they can compare their list with the British Science Association’s one at the bottom of this publishing. These are the dragons. The multi-millionaire investors on the way to the den. There tonight they’ll make or break the dreams of many budding business owners and inventors. The dragons are worth over half of a billion pounds Jointly.
They’re powerful individuals who’ve developed their own business empires from scrapes. So how do they make their fortunes? Peter Jones’ amazing business career began when he was just 16 and set up his own playing golf academy. Today his £250 million empire includes leisure, telecoms, and media businesses. Deborah Meaden made her fortune in the vacation and leisure industry in the West Country, where she’s just sold a stake in another of her companies in a £30 million deal.
Glaswegian business owner Duncan Bannatyne is worth over £170 million and presently is the owner of Bannatyne’s health night clubs, hotels, and casinos. Theo Paphitis made his fortune by purchasing failing companies and transforming them into thriving businesses, including La Senza lingerie, Partners, and Ryman’s the high street stationers. Australian given birth to Richard Farleigh made large numbers as an investment banker and hedge-fund manager and is now renowned as a prolific investor in UK start up companies. In the den the dragons are prepared to back the right business using their own money but tonight will anyone persuade them to get? People who come on the show ‘pitch’ their businesses ideas or inventions to five wealthy business owners – the Dragons.
They must condition how much cash they need from the Dragons. In trade they provide ‘equity’ in their business – a share which they can make a deal with the Dragons. If the Dragons want to get they make an offer. Divide the class. How you do this depends upon the true number of students.
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You could have 2 organizations – one group of dragons and one group of pitchers. NB Don’t give the Dragons the questions right away – let them brainstorm their own ideas first. You’ll be able to fast them if necessary. Why do people need your product? What will you use the money for?
What is your target market? Who are your visitors? Where do you want to sell your product? Will you sell it online? How much does it cost to make? Just how much do you want to sell it for? How much money do you expect to make? How do you want to market your product – advertising/ promotion stunt? Do any competition is had by you? When will I back get my money?
Today, these costs range from 11% up to 40% of the expenses of building for a task with respect to the character of the project and the number of parties involved. A typical custom home contractor will incur around 23% of the whole cost to construct the home from indirect costs.