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Dragons’ Den has had its share of memorable hits, from Reggae Reggae Sauce to Skinny Tan, but have you ever thought about what occurs after a deal is made?
Steven Bartlett, a Dragon with a net worth of £68 million, has exposed exactly what happens once hands are shaken and a deal is made.
On his YouTube Channel, Behind The Diary, Bartlett revealed the first thing to happen post-deal is everybody leaves the den.
Once a deal is struck, the entrepreneur and the investor have a chance to meet away from the cameras, and arrangements are made for their respective teams to communicate. Following this, the due-diligence phase is initiated.
He said: ‘We look at the business, we ask further questions and we check everything adds up.’
The Dragon remarked: ‘During this stage, we will begin to understand each other better, meet, and discuss what a future partnership might entail. It’s one of my favorite aspects of the investment process.’
Bartlett admitted that getting to know the people he’s investing in is something he cherishes. He considers himself to have ‘a close relationship with entrepreneurs.’
Steven Bartlett (pictured) became part of Dragons’ Den in 2022. He shared that after an agreement is reached, each Dragon exits the den, allowing the investor and investee to meet and coordinate efforts.
The CEO also detailed how he goes to great lengths to builds relationships with his investments.
Reflecting on the investment journey in a recent episode, he told his 48,400 followers that he personally invited all his recent investees to visit his office one-by-one to discuss business strategies and build rapport.
‘I like to think I have a close relationship with the entrepreneurs that I invest in, in the den,’ said Bartlett.
This comes a few months after the Dragon celebrated the success of a company he invested in on the show called PerfecTed.
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.’
