Top 4 Tips on How to Prepare for a Dragons’ Den Audition

Over the past decade, reality shows have evolved from just fun games, dating, and bringing the next big star on national television. Thanks to shows like Shark Tank or the opportunity to participate in a Dragons’ Den audition in these past few years, even entrepreneurs are given a fair share to be in the spotlight.

 

When Henkaa started in Jo’s basement back in 2009, many people had been encouraging her to try to audition for Dragons’ Den, but she always shrugged them off with reasons as to WHY SHE SHOULDN’T JOIN. It was a long list of not enough traction, inventory, or that maybe it wasn’t unique enough. That’s just a few of the excuses she had.

Seven years later, Henkaa has grown in ways Jo has never imagined and with that growth, she finally gathered the COURAGE to give the Dragons’ Den audition a shot.

Dragon’s Den has aired 14 seasons with a total of 245 episodes, and now, Season 15 is open for applications.

So let’s say you’ve made up your mind to try your luck and you got in! What now?

Let us share with you 4 tips from Jo herself on how she prepared for her Dragons’ Den audition in 2016:

  • Make sure you’re clear on why you’re at a Dragons’ Den audition.

  • There can be many reasons why you decided to join. It can be exposure for your brand because Dragons’ Den can certainly give that. It can be the investment itself so you can expand your reach and increase production. It can be the experience or the feedback and mentorship that you can get from the Dragons themselves. After all, whether you get the investment or not, the Dragons are bound to give you feedback as to why they came up with their decisions.

  • Pick your Dragon beforehand.

  • Like with everything being offered and sold, there’s a target market, so think about your target partner as soon as you’ve passed the Dragons’ Den audition. Choose the best fit for your brand because you have to match with one of them to say “yes” to your product. When Henkaa joined Dragons’ Den, Jo had Joe Fresh as the top of mind since he’s in the fashion business and Jim Treliving because of his sales background. In essence, choose a partner who you think would give you the best mentorship in relation to what you have to offer.

  • Create a strategy for investment.

  • Ever heard people tell you “Claim it”?

    Yes?

    Well, you should. Even if you haven’t gotten that far yet, that is the goal. So ask yourself how much you need and how you plan to use it to grow your business. It’s money, and we’re talking about business. Be clear on how you plan to drive your company forward with the amount you can get and how you can assure that you and the potential partner can get a return on investment.

  • Believe in your potential.

  • The best way to convince people is to believe in yourself, your company, and your product first. It doesn’t matter if you’re there for the money or the exposure or both, but make sure that whatever it is, put it in your story. Believe that you are worth the investment and the publicity. How you deliver your message makes all the difference. When you exude that confidence, it will be easier to get them on your side as well.

     

    Henkaa has come a long way since Jo’s Dragons Den audition and we kept pushing and growing. Every entrepreneur is bound to go through some speed bumps and maybe bigger hurdles along the way. There will be people who will support you and there will be those who will reject you. You just have to keep trying and keep going and gain as much experience and lessons along the way. Stay focused on your vision. You can win or you can lose but you will never really know unless you try.

     

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