Archive for January, 2009

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Multifamily Mindset: Empowering You to Close the Multifamily Deal

Tuesday, January 27th, 2009

When you are preparing to do your multifamily deals, remember that your mindset plays a crucial role in your success. You must believe that you are worthy of success and of the financial freedom that you desire. The money that is available to you is unlimited and you need to grasp a hold of that. Not only that, but you need to be aware of how words that you use when working with your private money sources affects your ability to seal the deal.

The labels that you attach to yourself play a major role in your ability to succeed. The word investor is thrown around a lot and this can create confusion. An investor is someone who has money and is looking for an investment vehicle. You need to refer to yourself as an entrepreneur.

An entrepreneur is someone who uses other people’s time, talent and resources to achieve his or her vision. This is what you are! An entrepreneur is someone who brings deals to the money while the investor is someone who brings money to the deals.

Entrepreneurs get in the marketplace and solve problems and then move onto the next challenge. They are the “movers and shakers” and make things happen. If you call yourself a real estate entrepreneur, that language alone will empower you.

Once you have established your role, you then need to realize that the potential money sources are limitless. This mindset that you have limitless funds available to you is critical in helping you keep your focus. You need to determine how you are going to use it. Whether you think $20,000, $200,000 or $2 million is a lot of money, there are plenty of people out there who think that any of those dollar amounts is just a drop in the bucket for the right deal.

The bottom line is, do not let your mindset get in the way. There is so much cash looking for places to be invested that finding the money is actually the easy part. Finding the deals is the harder part. You can find people who will write you a check for $2 million for the right real estate deal.

If you are going to do the work, just do the work once and then get it to work for you forever. Direct your energy into finding other people’s money and putting it to work for you. Part of all of this is rising above your doubts and fears and projecting positive energy to your investors.

Lance Edwards is living proof of his mantra that you don’t have to “graduate” from single family to multifamily – you can start with multifamily; using none of your own money and not dealing with tenants and toilets. For FREE information, visit http://www.ApartmentWealthMachine.com.

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Foreclosure Cleanup Companies: As Homebuilders Fold, Opportunity Knocks

Tuesday, January 27th, 2009

In the MSN Money article, “Foreclosures sting even best builders,” journalist Todd Harrison writes, “Besieged by collapsing home prices and frightened banks scrounging for cash, even the real-estate industry’s brightest stars [home builders] are finding there’s no place to hide.”

In plain language, it’s not just homeowners who are being hit hard by the foreclosure crisis – home builders are suffering too. Many of them are going out of business, leaving communities with unfinished homes, empty lots – and lots of opportunity for foreclosure cleaning companies. Following is how.

When a builder goes under and properties are left unfinished, savvy investors are the most likely buyers. And, before and after they finish a renovation, they hire foreclosure cleanup companies to do the commercial cleaning needed, eg, lawn maintenance, hauling away trash and debris, boarding up broken windows and doors, etc.

According to the aforementioned article, “It’s estimated that over 20% of the nation’s homebuilders have closed their doors . . .” This means lots of unfinished homes to secure, clean out haul away trash, etc.

How to Find Home Builders to Pitch Your Foreclosure Cleaning Services To

Following are two ways to find out who the major homebuilders in your area are.

The Grassroots Method: When a community is being constructed, usually the builder has a big sign in front, eg, “An XYZ Community,” (with XYZ being the name of the construction company).

Simply by driving around, you can write down the name of the companies that appear on the signs in a newly constructed community and look them up on the internet to pitch your foreclosure cleaning services. While this can be time-consuming, it’s an excellent way to get to know the “players” in the home building game in your community.

The NAHB: The NAHB is the trade association for homebuilders. NAHB is an acronym for the National Association of Home Builders. On their website, you can find out everything you need to know about builders in every state in the union.

The site also has information about trade shows, other meets and events, press releases pertinent to the industry and a whole lot more. It’s an excellent site to bookmark if you’re interested in building your foreclosure cleaning business and want builders as part of your client base.

Why Builders Make Great Clients for Foreclosure Cleaning Companies

Lots of Business: There’s an old saying that goes, “the shortest distance between two points is a straight line.” For foreclosure cleaning business owners, this means making a straight beeline to builders. After all, they build homes and use companies to do commercial cleaning.

Industry Contacts: Builders have many contacts – like realtors, they know other contacts you can get business from.

Patience is the Name of the Game When Targeting Homebuilders

Getting close to builders is tougher than making contacts with realtors. After all, there are fewer of them, and many already have their contacts in place. BUT, if you can patient and consistently network and market to this niche, eventually you will get business from them.

And, what a payoff it can be! While landing the “big fish” may take some effort, for foreclosure cleaning company owners, builders are truly the “catch of the day” worth the effort it takes to reel in.

To learn everything you need on how to start a foreclosure cleanup business, log on to Start-a-Foreclosure-Cleanup-Business.com for 200 pages of first-hand information from the owner of a leading foreclosure cleanup company in Atlanta, GA.

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Investment Strategies: The Top Pitfalls to Avoid for Effective and Strategic Wealth Management

Tuesday, January 27th, 2009

Developing and initiating efficient investment strategies enables you to create the lifestyle and security you desire for you and your family. By increasing your financial education and forging a path to strategic wealth management, you can quickly turn your financial life around and start living life.

However, there are several common pitfalls to investing that both men and women investors should avoid. Below I have listed a few of these pitfalls.

What To Avoid

Pitfall #1: Belief in the 1-size-for-all investment strategy

In other words, your investment strategies must be custom-fitted for you and your particular situation. You need to diversify appropriately for your needs and employ techniques for investing that compliment your abilities and preferences. The business or other investment that you choose should “fit” you. Your decision needs to compliment your “tolerance level”, not your neighbors or even your advisors.

Pitfall #2: Risking without necessity

You are not required by any means to risk your investment capital unnecessarily. There are safe investment strategies to engage in – ones that are all but guaranteed to show you positive returns. If you are thinking like a lottery player, chances are that you will not prosper. Especially in today’s market it’s important to think things through.

Pitfall #3: Procrastination

You need to position yourself and then allow time for your investment strategy to pay off. Creating incomes streams and prospering from strategic wealth management techniques are not an overnight event. Get in early and then persistently work your investing plan to fruition. Don’t be the one saying “coulda, shoulda, woulda” – follow your intuition after you’ve completed your due diligence.

Pitfall #4: Emotional or spontaneous investing

You should approach your investment strategies with logic, not emotion. Consider a given opportunity and establish its legitimacy. Then, when you decide to invest in the opportunity, give it your full attention and be consistent. Remain committed to your investment strategy for the long run. If it fails to produce after you have given your best efforts for a respectable time frame, then make a readjustment and move on.

When you have researched and decided on a particular investment strategy, then dedicate yourself to its development. If your financial education is limited, find a way to educate yourself. Do not rely solely on what others tell you. These should be viewed as recommendations, but YOU want to make the final decisions as it relates to your financial security. There are traditional investment vehicles, as well as those that are under most people’s radar, or network opportunities. Look for alternatives and broaden your horizon.

Remember to take control of your destiny or someone else will!

Janet Giacoma is a business coach, marketer, and online business owner who assists serious entrepreneurs in building a profitable online business with multiple income streams. To contact Janet visit:
http://www.TheAbundantAlliance.com and http://www.TheAbundantAllianceBlog.com

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Communicate, Delegate and Release: Formula for Growth

Tuesday, January 27th, 2009

Knowing when to delegate both responsibility and authority is hard for the owner of a growing business. The question that looms in your mind is: what if they (an employee) mess up?

Just the other day a business owner expressed their fear that by giving an employee too much decision making authority, they might make a decision that would cost the company money or lose a client. This was a business owner who was caught in that never-never land of control vs. autonomy. Where do you draw the line?

I began my managing career as a control freak. And it wasn’t until late in my career that I recognized the difference between being a control freak and knowing how to delegate with confidence.

The confidence to delegate and release authority came as I began to understand what I needed to focus on as a leader of a growing organization. Knowing what information to ask for, knowing what information to track, knowing what key indicators were critical for success. Leading is all about making sure that critical tasks get done right and that as a leader, you know what needs to get done when.

When you have 20 to 34 employees, you are in Stage 3, the Delegation Stage. (The 7 Stages of Growth identifies different stages of growth based on the number of employees) With 20 to 34 employees the company is no longer CEO-focused. It’s the first time in the company’s history when it can’t be all about you, the CEO. The company has to start developing its own identity.

This stage of growth requires a lot out of their leader. The company is more enterprise-focused, demanding that the leader begin to develop key employees into management roles. Without this recognition, a company can grow, but without releasing control, turnover will become your biggest inhibitor to sustainable profitability.

Stage 3 Leadership Rules of the Road 20 – 34 employees:

Rule #1: Delegate responsibility and authority to capable supervisors and meet with them regularly.
Have you appointed a supervisory team and do you meet with them weekly? At these meetings, do you delegate, track and review specific authority and responsibility to each supervisor? Have you secured, expanded and developed a company-wide flash sheet key indicator system?

Rule #2: Create a financial reporting and projection system.
Have you organized your profit and loss statement based on revenue groups? Have you developed a budget cash flow system by revenue groups? Have you created a hierarchy of how financial data is shared throughout your company?

Rule #3: Instill a team-based mindset throughout the company.
Have you created a team credo? Have you outlined clear roles and responsibilities for all team members? Do you reward and acknowledge team performance at company meetings?

Rule #4: Overhaul the business model.
Recently, have you challenged all assumptions regarding vision, mission, goals, objectives and strategies of the company? Do you challenge all assumptions about the customer, the competition, the market and your company’s offerings? Have you reorganized the company’s resources to meet the new business model conclusions?

Rule #5: Without fail, clarify and strengthen any and all communication with your employees.
Do you clearly communicate the goals and direction of the company to all employees? Have you established and demonstrated the company’s core guiding values, preferably with input from your employees? Do you reinforce and support effective one-on-one supervisor/employee monthly meetings?

By now, you have either figured out that your employees are your business or you are still holding onto the mistaken opinion that you are the only one who can run your business.

My suggestion is to get clear on what needs to be done and start asking for help from your very capable staff.

And if you’d like to discover other ways to improve your company’s bottom line and proactively manage your growth, visit and get ahead of your own growth curve.

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Using Psychology to Stimulate Action in your Joint Venture Marketing Messages

Tuesday, January 27th, 2009

Consumers love to spend money. They want to purchase goods and services. But how do you get them to purchase from you? A joint venture may be a good way to develop the right marketing message to consumers. Through your combined efforts, you can convince them that the products or services you sell will fulfill their needs.

Marketers have used consumer psychology for years to help sell their goods and services. Studies of consumer patterns and behaviors have helped them formulate a message that creates the desire to purchase. Understanding a bit of the consumer decision making process can help you find the right JV partner with whom you can develop a product or service that consumers can’t resist.

The Stimulus

You need to get the attention of a consumer in order to eventually make a sale. That means working with your JV partner to create a “package deal” or new product that you feel consumer’s need, and getting the message to them through advertisements, word of mouth, etc. Your marketing message must arouse a consumer’s interest and motivate them to act further. Make your ads attractive with photos, graphics, and colors. Use easy-to-read fonts that are large enough to read.

Do You Have A Problem?

Getting the attention of consumers is the hard part. Once you’ve grabbed hold of their focus, the rest is simply convincing them they need your product or service through problem awareness. At this stage of consumer decision, they must recognize that your product or service fulfills a desire or solves a problem for them in your marketing message. Does your JV effort potentially increase the consumer’s status? Can it help make life easier? Demonstrate the problem in your message.

More Info, Please

If your marketing message has grabbed their attention and highlighted a potential problem solver, consumers will want to know more through an information search. Their search could be external, or your marketing message could contain additional benefits of your JV product. Always emphasize the benefits to your potential consumer.

What are the Alternatives?

Before making a final decision, a consumer may want to know what else is available. Is there a cheaper product? Can someone else offer better services for less? You could even point out in your marketing message the differences of other similar products or services and why yours is the best choice.

I’ll Take It!

The final process of consumer psychology is the decision to make a purchase. If your marketing message has fulfilled all five previous processes for the consumer, give them a call to action. Let them know what they need to do to buy your product or service. Do they need to come to your store? Can they buy online? Is there a limited time only? Always give consumers the final information on how to purchase through your marketing message.

If your JV partnership is to be successful, you need to send a convincing message to consumers about the benefits of the JV effort. Solve the problem for them. Convince them that yours is the best choice. And always make it easy to know how to buy.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

To discover more Joint Venture Marketing Strategies join his free JV Wealth e-zine.

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Work from Home as a Freelance Writer & Start Making Money in 1 Week or Less

Tuesday, January 27th, 2009

With the economy shedding jobs at more than half-a-million a month since the last quarter of 2008, many are scrambling to find new employment. And, if it’s a work-from-home job, then all the better. Freelance writing is one of those careers that’s easy to start, and practically anyone who can read and write can do.

Following is a fast-growing, high-paying niche in freelance writing that anyone can enter — and start making money almost immediately.

Forget Magazine and Newspaper Writing: Online Writing Jobs are Where the Money Is

Specifically SEO copywriting. What is SEO copywriting? SEO stands for search engine optimization. Search engine optimization is simply using various rules to write copy in such a way that websites get more traffic and more sales.

And, website owners need a lot of it on a continual basis. Why? Because to rank high in search engine results, web businesses need to constantly add fresh content to their sites or their blogs and and/or to distribute via article directories.

Since most of them don’t have the in-house staff to do this themselves, they outsource it to freelance SEO writers. It’s cheaper for them. But, the amazing thing is, there are very few qualified SEO Writers. Most freelance writers don’t even know what it is, so it’s an untapped market.

And, this is why SEO writers are some of the busiest freelance writers you will find. Many of them outsource to other freelance writers because it’s so easy to get swamped with work.

Following are some sample jobs ads you may have run across while surfing the web. These all fall in the SEO writing niche.

Seeking SEO Article Writer: Need five articles on teen fashions for my website. Looking for someone who can submit 3-5 articles a week on an ongoing basis. Pay: $10-$20 per 400-500 word article.

SEO Copywriter Needed: We are looking for writers to produce SEO articles. Each article should be around 200 words. We will provide a sample as well as guide for layout and style. Pay: $10-$15 per post.

Seeking SEO Blogger: Newly launched humor blog is looking for writers to contribute humorous articles on a weekly basis. No experience necessary, but the ability to consistently deliver smart and witty copy is a must. Pay: Open.

We are looking for freelance article writers to write website content, product descriptions, etc. Our freelance writing service is currently expanding, adding new clients weekly, and needs additional writers to take on writing projects. Pay: $25-$100/article.

When many hear the phrase “SEO” they tune out, thinking that maybe it’s too technical. The truth is, it’s so simple that even a 12-year-old can grasp it, and within a few minutes. If you’re looking for a work-from-home job that is easy to do, pays well and where you can start making money almost right away, SEO copywriting is it.

To learn everything you need about how to start an SEO writing career, log on to Work-from-Home-Writing-jobs.com for first-hand information from a successful SEO copywriter.

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Ignite Your Company’s Intelligence: Hire Professional Managers

Monday, January 26th, 2009

The second phone call came a week after the first. I had explained on the first call that we really weren’t hiring right now. I was a bit surprised when I was told who was on the line. The thought that ran through my head was one of irritation — now what?

By the time I hung up, I had agreed to a face-to-face meeting. They were going to be in the area next week as her husband was being transferred from New York to Denver and could she stop by?

That chance meeting led to one of the most strategic and beneficial hires I had ever made. In my office, she explained to me that we needed her. That she had followed our growth from a distance and even though creatively we were considered one of the best shops around, she could take us to that next level. She did.

As I reflect back on my hesitation in making this critical hire, in hindsight, I know I was worried about how I would handle someone that experienced. I think it’s human nature to be a bit intimidated by someone who knows more than you do.

Stage 4, with 35 to 57 staff, is called the Professional Stage. (The 7 Stages of Growth identify the stages a company moves through as they add employees) This is the time you need to focus on hiring or promoting and training to get experienced managers who have been there, done that or who want to learn this valuable skill. Your company has outgrown your ability to keep all those balls in the air.

An experienced manager will come to the table understanding the need for operational processes and more importantly, how to implement them. They are experienced in how to handle the people side of your business. They can create and effectively manage project teams. They know how to budget, schedule and address client issues.

This is the time, as a leader, that you want to surround yourself with capable people who will share your vision, your passion and bring a different expertise to your company.

Stage 4 Leadership Rules of the Road 35 to 57 employees:

Rule #1: Hire or effectively train professional department managers who are responsible, accountable and proactive.
– define clear roles and responsibilities for all department manager positions
– meet weekly to support department manager’s commitment to reach their goals
– reward them when they demonstrate proactive signs of leadership

Rule #2: Create strong performance-driven department fiefdoms that compete with each other.
– have each department establish clear, measurable goals and objectives that show up in performance reviews
– have each department hold weekly meetings centered around key health indicators for their department
– have each manager establish, get approved and manage their department’s budget

Rule #3: Allocate 5 to 10% of gross revenues to identification, acquisition and implementation of new systems.
– identify key systems required to sustain enterprise health and improved performance
– research and acquire key systems
– organize and execute the implementation of those key systems

Rule #4: Identify and set in place with management team the company’s core master processes.
– identify the top 10 to 15 master processes needed to create and sustain the company’s health
– design, document and refine those top 10 to 15 master processes
– implement and make the necessary improvements to the top 10 to 15 master processes

Rule #5: Establish a strict company project management template.
– research and design a clear, consistent process to manage internal projects
– train all management staff on the project management template
– communicate and train all staff on project management template

In every stage of growth, there are 3 Gates of Focus: revenue/profit, people and process. These three gates of growth help create a functional way to address every single issue that occurs within a company. For a Stage 4 company, the Process Gate is top priority.

When a company moves into Stage 4, establishing key processes that will provide you a foundation of growth is critical. Remember, the old adage that says if you have time to do it over again, you had time to do it right the first time.

If you ignore Stage 4 rules of the road, I’ll guarantee you’ll be gearing up for a do-over sooner than later!

And if you’d like to discover other ways to improve your company’s bottom line and proactively manage your growth, visit and get ahead of your own growth curve.

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Making Money in a Slow Real Estate Market

Monday, January 26th, 2009

Supply & demand cut both ways, my fellow real estate junkies. Demand has plummeted, so what do we do? Swim against the tide and start buying, of course.

The Purchase Plan: Double Distress

Prices are down, but if you’re a real estate investor worth your salt, you still want a killer bargain. So here’s the game plan: where others see distress, you need to see dollars.

The purchase plan involves both distressed sellers and distressed properties. Let’s consider the case of foreclosures for a moment; why does real estate sold through foreclosure auction sell for less? Because investors can’t get inside to see what kind of shape it’s in. But there is no question that buyers at foreclosure auctions, especially in today’s market that’s far oversaturated with them, will score a good deal, provided they know what kind of property they’re buying.

So to take maximum advantage of a distressed seller sale by foreclosure, what safer method is there than to buy a property that you already know needs full renovation? There’s a discount built into properties needing renovation, because of the hassle of renovating them. Those hassles, which you’ll have to be adept at managing, include maintaining relationships with several of each of the following: hard money lenders (for quick settlements and renovation loans), small, local banks (they’re far cheaper than hard money lenders and fill the same niche, but are pickier), licensed contractors, inexpensive handymen, and low-cost permanent lenders if your renovation loan is short-term. A distressed property in shambles, sold through a distressed sale, will effectively give you a double discount, which will in turn create maximum cash flow for the next stage: getting paid.

The Payout Plan: Deferred Gratification

We’ve already established that you have to go against the grain if you want to make money in a slow market like this one. With a depression in demand and an abundance of supply, you don’t want to sell, so what do you do? You build your real estate empire, and watch money flow into your account every month as a landlord. When the market shifts in a few years, you’ll be poised to sell all those distressed properties bought for a steal, and make a fortune.

There are some challenges involved in being a landlord, so be prepared. First, your money is not liquid; these investments, by their very nature, are long-term and you will have to wait for the market to turn before you can sell. Second, you’ll need to be capitalized, both because your other money isn’t available and because rental properties will always throw surprise expenses your way in the form of maintenance, repairs, vacancies, and lawsuits. As a final note, it is a wise and happy landlord who hires a property management firm to assume the headaches for them.

Remember the first thing you learned about money: buy low, sell high. The real estate market can and should be your ally, not your enemy; ride the highs and lows alike, and right now that means buying as cheaply as you can and holding the properties as a landlord. Good luck!

Read more articles for landlords and real estate investors at EZ Landlord Forms, along with free real estate forms and real estate investing tips and resources.

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How To Find Your Vending Machines For Your Locations At The Best Price!

Monday, January 26th, 2009

Where you buy your vending machines depends on where you live. I live here in Ontario, Canada. You might live in the states or somewhere in another country somewhere. Everyplace is different, but here are a couple of suggestions.

First you can buy your machines from a distributor. There are distributors that sell new vending machines and used vending machines. So how do you find them? Well, first go to your search engine, like Google then type in used vending machine and whatever city you live in or something like that, to that nature. See what comes up. Also you can go to the telephone directory and try to find them there.

Finding the vending distributors is probably a good start, just to go see what they are selling and get an idea of pricing. Take a pen and paper with you to write down prices, and just say, “I would like to know how much these vending machines are, and I am looking to getting into the business. I am doing my research right now, and trying to find the best company to buy my machines from.” Don’t be afraid to ask questions.

Next you can go to e bay or a buy and sell website like Kijiji or Craig’s list to what’s there. Just type in their search box “vending machines” to see what is coming up there, or a certain type of machine that you want to buy. For example if you want to buy a Dixie Narco soda machine just type that in.

When you search e bay you will see what people are selling, what kind of price range they are asking, they give you descriptions and everything. You will also see if somebody is in a state near you, or in the same area and you can see what types of machines people are selling.

You get an idea of some of the pricing there. So that is one way. Also the buy and sell websites in your local community are great because you can find other operators and people that maybe are getting out of the business or just have extra machines that they want to sell and get rid of.

That is a great way to pick up a good deal on a machine right there too. Looking in the newspaper is another one just look in the classified section. People are always trying to sell stuff there.

Another thing to consider and this is a great one, buy from other vending operators.

What is stopping you from going to another vending operator in your community and saying, “Hey can I buy a machine from you?” You have to figure this, most vending operators work out of their homes.

The bigger companies have their own shops and either have machines that are on location or are sitting in storage. Some operators might have a bank of machines. You won’t know until you call them. You might hit somebody at the right time that you just call up and say, “Do you have any soda machines for sale?”

I want to buy something used that is in good condition. I don’t want to spend a lot of money. Say I know some of the different soda machines that are out there.

These are all just a few simple ways for you to find your vending machines that are out on the market for the best price.

Chris Robertson is a 10 year vending operator who works out of Toronto,Canada. toronto-vending-services.com For more info about starting vending business visit Chris’s site Vending Machine Location Secrets.

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Is Dragons’ Den Serving Its Purpose?

Monday, January 26th, 2009

Whether you love it, or you loathe it, there’s no denying the impact and success of the BBC2 inventor/entrepreneur programme, Dragons’ Den – the first series alone recorded viewing figures of 1.2 million and the show has grown in popularity ever since.

Dragons’ Den can make for compelling, if not hilariously disastrous and cringe-worthy television. There have been success stories: most notably Levi Roots’s Reggae Reggae Sauce and Imran Hakim’s iTeddy; but it’s those who fail, and fail miserably, that provide the TV gold that seeps from the Dragons’ Den.

A personal favourite calamitous moment has to be the clumsy pitch for the ‘EggXactly’ – an egg toaster. That’s right, an egg toaster! Memories of the bespectacled, suited man sweating profusely and mumbling nervously when frantically trying to get his little invention to work, time after time, still makes me chuckle. It really was car-crash TV and I still can’t believe that two of the Dragons actually invested in him!

Another feature of the programme is the Dragons themselves. They all have their individualistic sayings, demeanours and expressions. There’s Duncan Bannatyne with his deep Scottish drawl, always to the point and careless of who he offends. Has he ever made an investment? His catchphrase is surely: ‘I’ve heard enough, I’m out!’

Then there’s Deborah Meaden – she would make a fine pantomime villain. She has the sort of face that looks like it would crack if she broke out a smile; Theo Pathitis is entertaining merely because of his unfunny quips; James Caan is the likeable, yet ruthless Dragon: ‘Let me tell you where I’m at’ is his usual approach to telling a hopeful pitcher that he won’t be investing in their business. And finally there’s Peter Jones, as tall as he is arrogant.

Dragons’ Den has survived six series, with a seventh set to air in the spring, and is into its fourth year, and apart from being a well devised and entertaining TV programme, Dragons’ Den really does offer opportunities for those lucky enough to broker a deal. Cynics may say that the Dragons are only on the show in order to profit from other peoples’ ideas, but it works both ways. Theo, Duncan, Deborah et al are putting their hands in their own pockets, and in some cases their investments are more like punts.

The most common area where the entrepreneurial hopefuls come unstuck is through poor pitch preparation. Often their financial figures are all over the place and completely inaccurate and this puts an immediate lack of trust in the minds of the Dragons. A well devised, confident pitch is as important as the product itself.

The Dragons like nothing more than being able to belittle someone who really hasn’t prepared sufficiently for their pitch. After all, that’s what makes the programme so appealing to viewers who take solace in wallowing in other peoples’ pity.

Apart from its obvious appeals, what Dragons’ Den outlines is the fact that enterprise in Britain is healthy. There are many talented and driven entrepreneurs and creative minds hoping for their big break, and of course investment and mentoring from inside the Den. No matter if that lines the pockets of those Dragons who choose to invest and offer their knowledge, extensive contacts list and expertise, as long as that keeps industry afloat during these dark times of recession, and puts a smile on the faces of the millions of viewers.

Shaun Parker is a leading design expert with many years of experience in the product design industry. Find out more about Dragons’ Den at http://www.applied.uk.com/dragons-den.htm

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