I can’t believe they didn’t take the deal, I can’t believe they let that expertise slip through their fingers. That’s what most of us were thinking as we watched the latest version of Dragon’s Den last night. It was young entrepreneur night and a couple of university students had developed a computerized math game. The game had the attention and resources needed to take it past the scrutinization of the Dragons to create a bidding war. All five Dragons wanted in on the deal but with more equity and sides were taken based on the equity willing to take. In my mind the two young entrepreneurs should have taken the deal even with a 50% stake and gotten all five Dragons. Their counter offer to the Dragons took everyone off the table and the two left the show with nothing. The point is that they were written up in todays local paper as they are from my hometown and will probably get help just from being on the show. There was another little girl who had toeless socks and before her pitch was done my wife was on her website picking out her colour of choice. We have seen the same things happen on shows like American Idol, The Voice, and more where even if they don’t win the competition usually if you are in the top ten you will get some deal from somewhere.
The point of this is as entrepreneurs this may play into a big part of our marketing strategy. Instead of taking ads out in the local paper, or advertising in magazines and such it may be more effective for us to get out there and be in the news. Now I am not suggesting you rob a bank, or hurt someone in any way, but attend events, push yourself to the next level, and so on. For instance through my illustration business we have expanded into video production for clients. Many times the video needs some introduction and many people are not comfortable in front of a camera, so I jump in and do an interview to get it going. This has helped in a number of ways even though the videos aren’t about me. I am now known as an interviewer comfortable in front of the camera, it has made me very comfortable talking with people on camera and made me think quick on my feet when they forget what to say, and every time that video is watched my name goes in front of the people watching. I couldn’t buy that kind of advertising. Maybe you can host an event for your club, or possibly sit on the board of a business group. I am sure pictures will be taken and cameras rolling so you could get some free publicity. Sometimes getting your name on camera without being the centre of attention can be the best marketing possible.
About the Author
Bruce Outridge is a business and leadership consultant specializing in the transportation market. For more information please visit his website at www.outridge.ca