Have you ever watched the TV show, The Dragons’ Den? Five multi-millionaire venture capitalists, with backgrounds in Technology, Marketing, Oil and Gas, Finance, and Franchising, listen to pitches from entrepreneurs and then decide, based on many factors, whether the investment is viable. Sometimes the Dragons argue with each other, sometimes they compete for the opportunity to invest, and sometimes they humiliate the candidate with a dressing down, such as “That’s the stupidest idea I have ever heard.” They can be sentimental and kind, encouraging and supportive, or scathing and downright nasty. They can make grown men cry.
I think it’s a great show! Not because they make grown men cry, but because we get to see a multitude of fascinating ventures and hear how the entrepreneurs got their businesses off the ground. These are wonderful case studies even though we only get a snippet of the picture. You never know how the Dragons will react to the presentation or to the person. They can love you or hate you and they don’t hold back. After all, they have the power and you are just a squirming little bug. Of course, they are much more inclined to like you and your idea if you know your business, have made some money, and have already achieved a respectable level of success. They are not interested in mere potential, but, rather, want to see that the groundwork has been done, that you’ve made decent headway, and that you haven’t been spinning your wheels and wasting your money.
I would never go on this show. Why? Because
a) I am not much interested in the spotlight and
b) I wouldn’t want to be crushed like a bug (especially on national television)
Even if I had a successful business that needed a cash infusion, I wouldn’t go to the Dragons. Maybe I don’t have thick enough skin. However, I think the show can do a great service to the candidates, as they get exposure for their products and free advice from shrewd, successful business people. Sometimes the Dragons take an active role in an investment and bring additional value through their goodwill and knowhow.
The most investively (I just made up that word) active and often the nicest Dragon, Brett Wilson, has recently left the show after four seasons. Apparently he and the CBC couldn't agree on the terms of his new contract. The show will not be the same without him. But now, he—the dragon with the heart—will be hosting a new show this fall on slice TV called Risky Business.
Here is the premise from a news release published on Brett Wilson’s personal website:
In each episode of Risky Business, Brett will give the daring couple a chance to risk big and win big. As host, he will guide the investors as they choose between pitches made by two different entrepreneurs, each looking for capital and offering a big return. The options will be unusual – such as investing in undervalued vintage wine labels or betting it all on a high stakes one-night-only event. The duo will stake their life savings on one investment, and Brett will invest in the other. It isn't until the end of the episode that it is revealed how each investment performed. Will the risk-taking couple win big or lose it all? Do they out perform Brett? Or does Brett prove he can make money just about anywhere?
I’m glad to see that Brett Wilson will be back on the screen as he is a shrewd (and seemingly affable) businessman with a sharp wit, but I do have concerns about this show. Are they really calling on people to invest their entire life savings? How can amateurs make an intelligent decision to invest in a venture based on a quick pitch? Great for those who succeed, but detrimental for the others. Not everyone has the wherewithal to carry on after that and, in this economy, it’s not simply a matter of moving on to a new venture or a new job.
I think Brett Wilson is great - loved him on Dragon’s Den, but his reputation as “an investor with a heart” may be seriously compromised here.
It’s one thing to solicit people to invest, but it’s another to expect them to gamble with their life savings. I’m wondering if the network has considered what the stakes truly are and what the fallout from this show could be. Why not do a show about people gambling their life savings in Vegas? Or putting all their money into one stock? There is risk and there is risk. And to me, gambling all your hard-earned cash for a possible win (which you have little control over) and a few minutes in the spotlight is far from worth it, even with the nicest dragon prodding you on.
The Director of Casting and Research for "Risky Business" told me in an email that I needn’t worry. He said, “We are taking all people’s interests into account and are maintaining the highest level of respect and concern.” I hope this will be the case; otherwise, the network will be spending a lot on lawyers and psychologists.
I wish them the best of luck and I hope I'm wrong about my concerns. Stay tuned!