Before we look at financial equity, grants and loans it's a good idea to examine the types of questions that investors or grant aids expect you to be able to answer. Watching Dragons Den videos is a great way to look at those that were successful and WHY and those that failed and WHY.
Using this information test your own business idea.
Do you have clear answers to some of their questions.
Watch lots of these videos and create yourself a checklist of potential questions.
Then practice, practice and practice your responses!
Do you have clear answers to some of their questions.
Watch lots of these videos and create yourself a checklist of potential questions.
Then practice, practice and practice your responses!
My Summary of watching these three videos:
- Know your market size and direction
- Know what business model are you using to make profit
- Compare and contrast to others on market
- Know the profile of customers
- Know your competitors
- What does the product cost you and what can you sell for - margin
- Distribution mechanism
- Marketing Strategy
- Simple ideas can go far
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