This was one of the biggest challenges we faced when we launched PerfectTed in 2021. While we have worked hard to grow our business and secure some brilliant commercial partnerships for our matcha-based energy drink, we knew that the opportunity to appear on Dragons’ Den wasn’t one we could pass up. Yes, the lure of financial impetus is significant, but that always comes with strings attached. But in reality, we were enticed by the exposure and huge marketing reach the programme can provide to a startup like us.

With that said, you still have to prepare as if you are going all out for investment. This can be daunting for many founders with little time on their hands. Here are some tips from our journey to winning the biggest prize that money can’t buy – exposure.

Bigger is not always better

It can be tempting for founders to chase high valuations to appear more desirable to investors; however, we saw that this can quickly undermine trust in the finances behind a business.  Entrepreneurs often come unstuck in the Den as their valuation is unpicked. Whether this happens on national television or in an investor meeting, businesses set themselves up for failure if they can’t justify their sometimes lofty numbers.

That’s why it was crucial for us to enter the Den with realistic facts and figures. We were only given a few days to pull everything together, which is where our accounting software came in handy. We use Xero, which gave us the snapshot of our sales growth, profit and forecasting that we needed to impress the Dragons and prove our valuation.

By being able to paint an accurate picture of our business, we were able to win over the Dragons early on, which helped us secure offers from all the potential investors. It also meant that we were heavily featured in the programme’s promotional materials, which helped to boost our brand further. Getting seen is great, but being heard and trusted is even better.

Capitalising on 15 minutes of fame

Viewers only get to see a tiny part of the Dragons’ grilling of our business, which actually lasted an hour and a half. From an outside perspective, it really is 15 minutes of fame, and so it’s vital that businesses earning their place in the Den consider their next marketing and commercial moves  before the episode airs, to capitalise on the moment. 

Knowing that we had been successful before the episode went public, we were able to kick off conversations with leading retailers who may not have considered our pitch without referencing Dragons’ Den. And finding ways to maintain this momentum is crucial. This is also one of the reasons we chose Steven, a marketing genius, as one of our investors, to help us build our brand and translate this into conversations with prospective customers.

What does it actually help with?

Marketing isn’t just about broad brand awareness, it is linked to the numbers too. Being able to clearly demonstrate the demand for our matcha energy drinks has helped us at every stage of growth. From the initial Kickstarter campaign, where we reached our funding target in under 23 hours, to initial discussions with the BBC producers, understanding our numbers and communicating them effectively go hand in hand. It also plays a huge role in attracting talent for the future. As the company grows, being able to point to moments like Dragons Den will help legitimise us in the eyes of the talent we want to hire.

We know not every company will end up on Dragons Den. But the lessons we learned while preparing for the show are worth considering for startups everywhere. By getting the basics right, knowing our numbers, and making the most of the resulting exposure, PerfectTed is in a great position to thrive alongside our new investors.