I think there’s going to be a new swathe of entrepreneurs
Dragons’ Den is back. Deborah Meaden tells Marion Mcmullen why she is looking for business ventures with a life beyond covid
ASPIRING entrepreneurs and budding inventors are preparing to brave the fiery comments of the Dragons’ Den panel once more.
The 18th series switches from BBC2 to a BBC1 slot next week and sees the return of 62-year-old businesswoman Deborah Meaden and her fellow Dragons Peter Jones, Touker Suleyman, Tej Lalvani and Sara Davies.
Hopefuls will be aiming to strike a life-changing deal with the toughest titans of industry and have just three minutes to give a pitch that could make or break their business.
But what does exactly does it take to impress Deborah?
What can you tell us about the new series?
It was really interesting. Although this is probably the toughest time that I’ve seen in business, it has really brought out the best in people.
The entrepreneurs in the den were clearly thinking about the details of how their businesses would work, not just in the pandemic but beyond. So, we weren’t seeing get-rich-quick schemes, but products that have a life beyond Covid, which was brilliant.
There are still some people who pitch and don’t get their numbers right, which is so frustrating. I get cross because they have an amazing opportunity to stand in front of five serious business people who want to invest, and they come in without doing their homework.
You can’t wing it.
Will we see some fierce competition in the den this year?
Oh yes. All the Dragons get on really well, but we are competing for businesses and that can get heated. But we’re also grown-ups, so what happens on tour stays on tour.
None of us hold back. We haven’t got to where we are in life by being shrinking violets. It’s never personal.
It was odd this series, because we would normally all go out to dinner together each night. We tried it a couple of times, two metres between each of us on individual tables, and it really wasn’t the same.
Have these strange economic times affected you as an investor?
The pandemic has not made me more or less likely to invest. I’m always looking for good businesses and it hasn’t shaken my confidence at all.
What it has done is to make me very aware of how businesses have responded, and how they are looking beyond the current situation. I have 19 to 20 live investments at the moment, and the ones doing well are all talking about life after the pandemic.
We can’t go backwards, so we have to accept it will be different as we go forward. I think there was a moment at the beginning when everybody thought, “Oh my goodness, what does this actually mean for business?” but we live in a world of entrepreneurs and they don’t see barriers, they just see challenges to overcome.
I’m probably in the right place, because every single one of my businesses has told me they found something better about themselves during this time, ways of doing things better. That’s what I’ve been looking for in the den. People who are trying to do things differently.
Have you been working from home?
Absolutely, I actually think my way of working has changed forever.
I used to travel a lot and now I actually think that I shouldn’t, for many reasons including the environment.
We’ve all learned to speak the new language and I don’t think there’s going to be anything lost in this new world.
It means more time with the dogs too.
What has being a Dragon taught you about business?
I’ve learned a huge amount.
It can sound pretty trite but it’s absolutely true. Every time I think I understand it all, I’m shown a new way of doing things that I hadn’t thought of.
Business is moving so fast and you’ve got to keep moving with it, because doing what you did ten years ago isn’t going to work.
I always look for entrepreneurs in the den who look ahead and stay open minded.
Could the pandemic inspire a new generation of entrepreneurs?
I think it will. Unfortunately, the truth of the matter is that businesses are going to have to change the way they do things in order to survive, and that can mean job losses.
Good people can lose their jobs, and a lot of them are going to look at starting their own business. It’s actually easier now, because of the internet – a lot of stuff has moved online.
You’ve still got to get it right, but your access to starting a business is much more readily available.
I think there’s going to be a whole new swathe of entrepreneurs, not just because of the pandemic, but because of the security, flexibility and independence that having your own business brings you.
That’s not to say that there aren’t times when your business runs you. It’s like having a small child you have to really take care of.
Why do you think Dragons’ Den makes such good TV?
It’s one of those lovely programmes the whole family can watch – grandparents can discuss with grandchildren in the front room and everyone has an opinion.
I think there’s a little bit of an entrepreneur in everybody and Dragons’ Den demystifies the world of business.
It’s made people realise they can do this. It’s not a magical world over there that only other people are involved with. That’s really important, and it’s why I love being part of the show.
■ Dragons’ Den starts on BBC1, 8pm, next Thursday