Dragons’ Den has produced some of Britain’s best-known business success stories, including Reggae Reggae Sauce and Skinny Tan. But what really happens after an entrepreneur secures an investment on the BBC show?
Steven Bartlett, whose fortune is estimated at £68 million, has offered viewers an insight into the process that begins after the cameras stop rolling and the deal is agreed.
Speaking on his YouTube channel, Behind The Diary, Bartlett explained that the first step is for everyone to leave the Den.
Once the set has cleared, the investor and entrepreneur meet away from the cameras, while their respective teams are put in touch. The formal due diligence process then gets under way.
“We look at the business, ask further questions and check that everything adds up,” Bartlett said.
He added that this stage is also an opportunity for both sides to establish how they might work together. “Through that process we get to know each other, meet each other and talk about what a relationship might look like in the future. That is one of my favourite things.”
Bartlett said building a personal connection with the entrepreneurs he backs is one of the most rewarding parts of investing, adding that he likes to maintain “a close relationship with entrepreneurs.”
Steven Bartlett, pictured, joined Dragons’ Den in 2022. He revealed that after a deal is made, the Dragons leave the set while the investor, entrepreneur and their teams begin coordinating behind the scenes.
The CEO also described the effort he makes to develop long-term relationships with the businesses in his investment portfolio.
Reflecting on deals from a recent episode, Bartlett told his 48,400 subscribers that he invited each of his newest investments to visit his office separately. The meetings gave them time to discuss their business plans and build a rapport away from the pressure of the show.
“I like to think I have a close relationship with the entrepreneurs that I invest in, in the Den,” Bartlett said.
His comments came several months after the Dragon celebrated the progress of PerfecTed, a company he invested in during its appearance on Dragons’ Den.
The per month revenue of the natural energy drink company has increased from £9,000 in March 2022 to £400,000, according to his LinkedIn.
The matcha-powered sold out in Holland and Barret, as well as being stored drink is in Tesco’s across the nation.
In the YouTube video, Bartlett reminisced about his first investment, which is his biggest on the show to date:
‘I invested £150,000 of my money, into a technology company that is delivering cheese called CheeseGig’ the entrepreneur said.
‘My first investment I really wanted it Peter wanted it as well so I was happy to win that one.’
The businessman also busted other myths about the show. No, there are no ear pieces with producers telling Dragons’ what to do according to Bartlett
This wasn’t the only secret Bartlett spilled, he also busted a long-standing myth about ear pieces on the show.
The businessman said: ‘Nobody can tell these guys what to say, they know what to say better than anybody on earth.
‘They know how to be a dragon better than any producer could whisper into their ear.’
He also laid to rest questions surrounding the Dragons’ relationships outside of the den.
‘We get on like a house on fire. In the heat of the deal, we can scrap a little bit and there can be some fire and some tension and all that stuff,’ said Bartlett.
‘But outside of the den, we are mates.’
