Trial by fire: Our Journey into the Dragons Den
This was by far one of the craziest experiences that we have gone through in our entrepreneurial lives!
Here is our story.
Just this past January, my sister and I got the news that auditions were open to appear on the show, Dragons Den. Now, if I were to tell you that we religiously watch the show, and that it is our favorite and that we’ve dreamed for years about being on the show; that would simply be an understatement, we are absolutely fans of the Dragons! So, there we were thinking, auditions are open….LET’S DO THIS! Though the idea seemed a little crazy, being such the fanatics of the show that we are, we decided to give it a shot. Our audition was at Concordia University in Montreal. On the first day they were about 50 people waiting to pitch to the show’s producers. My sister and I had perfectly memorized our pitch and we felt more than ready to audition in a way that would set ourselves apart from the 50 other entrepreneurs, but we felt we had one significant problem. Out of those 50 other people looking to strike a deal with a Dragon, we were the only ones who did not have a product! Our business offers an amazing and unique service that we are very confident in, but we were going to need to articulate this to the producers in an exceptional fashion rather than performing a simple product demonstration. It was quite challenging but we succeeded. We delivered our pitch and felt confident that we did well. CBC tours in about 33 cities across Canada and they have over 3,000 people that audition which means we had less than a 5% chance to get selected to pitch to THE DRAGONS. We knew our chances were slim but as the saying goes, “you miss 100% of the shots you don’t take” so we took a shot. Fortunately, we got a call back three weeks after the audition – one of the producers called and said, “girls, you have been selected to pitch your business idea to THE DRAGONS, we believe you girls will do great on show.” We were absolutely ecstatic! We could barely believe we were actually going to meet the dragons face-to-face and potentially showcase our business on national television… WOW! Our business name is FIESTA, and we can promise you, that is exactly what we did that night!
The process of preparing to face the Dragons was intense and required us signing several NDAs with CBC – you lose most of your rights when you are filming for a show. You also have to be ready to accept all the editing, etc. and we knew this could be very risky – but we knew it would be worth it! We decided to play in the Dragons’ playground and we were ready to deal with fire.
We practiced our pitch many times together and with and our producer/coach. At the end of the day, it is television so you need to be entertaining. Originally, we wanted to bring kids – because Fiesta is all about the KIDS, but the producers wouldn’t allow us. We also wanted to bring videos of our venue and a Party so that we could show the Dragons exactly what we do, but that was a no go as well. We were lucky to have our business mentor who helped us a lot by determining the potential value of the business, and projections of future gains, etc. We were also very blessed to have lots of family and friends who gave us valuable feedback regarding our pitch and preparation for our appearance in the Dragons Den. Despite the obstacles that were thrown at us before we even walked into the Den, we were determined to persevere.
March 28th – was the big day! We arrived to Toronto one day before pitching to the Dragons. That night after a nice dinner, we tried to go to bed early but it was nearly impossible to sleep. The nerves had already begun to kick in!
The next morning we had breakfast, we prayed, and arrived at the CBC recording studio at 1pm. We finally met our producer “coach” in person because up until that point we’d only corresponded via email and on the phone. She was super nice and very helpful. Once we were there we did our sweet table set up and waited about 4 hours until it was finally our turn to step into the Den and face the Dragons. This is a one shot scenario – if you choke, then that will be aired on TV for the world to see! Feeling the pressure, we did our best to take deep breaths and control our nerves so that we wouldn’t choke in front of them. We saw a couple of pitchers leaving the Den crying, and that only made staying calm that much more challenging. Trust me, we were downright scared! We finally told ourselves that we were going to have fun with it regardless of the consequences would be. Our time was nearing and the pressure was intense, then out of nowhere, our producer tells us we need to change up our pitch! She told us the Dragons were getting tired and that we needed to spice things up! Talk about feeling stressed; we were expected to change our pitch, the one we’d perfectly mastered, just moments before facing the Dragons…tired and now possibly annoyed Dragons!. Without choice, we changed our pitch at the very last minute! Feeling totally overwhelmed and frazzled, it was at this point that we just wanted to get it over with. We finally decided on 3 major priorities: 1. DO NOT fall going down the stairs, 2. DO NOT let the dragons bash our business, 3. DO Have fun in the Den!
The make-up artist gave us a few touch ups. We put our microphones on, the cameras were ready and it was finally our turn to go. We were backstage ready to go down the stairs to face the Dragons… the producer began the countdown, “10, 9, 8, 7, 6, 5, 4, 3, 2, 1… Karla and Alejandra from Montreal!” We walked down the stairs, legs trembling, Ale murmuring something that sounded like a prayer under her breath, and then there they were, 5 Dragons staring intensely right at us…
To be continued…
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Feb 12, 2015 So finally we aired last night!! Short and Sweet =)
As you all now know we didn’t get a deal but we got to party in the Den! What a wonderful experience that was. The filming took approximately 25 minutes and CBC will post a longer segment online (we will keep you posted). The Dragons did not want to invest in our business because they thought it would take long to scale. They gave us great advice and we left the den with our head up high. Ultimately, our purpose for our business is more significant than making money. We stand strong in “Legacy over currency.” The people that know us know that our objective is to serve our clients the best possible way and create wonderful birthday memories and also to influence little girls in a positive way. If in any way we can make a difference in the kids that we meet and their families then that is what really matters. We thank-you all for all the support, this has been by far one of the scariest experiences of our lives and we are so grateful for all the people that surround us and encourage us to keep on going.