Dragons' Den victor reveals what REALLY goes on behind the scenes

A Dragons’ Den victor has revealed what really goes on behind the scenes of the hit BBC show – including a seven hour wait to be seen and absolutely no re-dos.

Former financier Edward Hancock, 39, who sank £720,000 of his own cash into his cheese subscription business, secured a £150,000 investment from the newest investor Steven Bartlett after appearing on the programme earlier this month.

Edward, founder of cheesegeek, an online cheesemonger specialising in supplying British artisan cheeses directly to customers’ doors, was the first business owner to set foot in the den on the new series of the BBC One show.

Appearing alongside his business partner Richard Simpson, Edward, from south-west London, delivered an impressive pitch that won over Peter, Steven and Touker.

The business partners agreed an offer from the newest and youngest ever Dragon, Steven – a 29-year-old social media marketing CEO – who bid £150,000 for a 5 per cent stake in the London-based artisan cheese retailer.

Here, Edward reveals what happened when he appeared on the show – from the very detailed applying process, to the ‘one, natural take’ and the lack of advisers…

Former financier Edward Hancock (pictured), 39, who sank £720,000 of his own cash into his cheese subscription business, secured a £150,000 investment from the newest investor Steven Bartlett after appearing on the programme earlier this month

Edward (pictured right), founder of cheesegeek, an online cheesemonger specialising in supplying British artisan cheeses directly to customers’ doors, was the first business owner to set foot in the den on the new series of the BBC One show

Appearing alongside his business partner Richard Simpson, Edward (pictured), from south-west London, delivered an impressive pitch that won over Peter, Steven and Touker

DETAILED APPLYING PROCESS

Edward said: ‘When we first applied to appear on Dragons’ Den, I don’t think we really believed we would get through to the next stage, let alone appear on the show.

‘It’s a thorough process – video auditions, comprehensive due diligence, form after form – not just around your business, but also you as an individual.

‘Then an email arrived with confirmation – we had a slot on the very first day of filming the new series. Excitement was our first reaction. Then after the initial news settles down, you realise that you will actually have to pitch. On camera. To Dragons.’

SEVEN HOURS WAIT TO SEE THE DRAGONS

The businessman explained: ‘On the day our pitch was being filmed, we arrived at the studio in Manchester and were shown to a waiting room. We had to wait for seven hours before being taken up to the Dragons.

‘After our pitch, our question and answer session with the Dragons lasted for one hour and 45 minutes.’

THE CAMERA DOESN’T STOP ROLLING

Edward revealed: ‘There are no cuts in the filming, no re-dos. There’s no staging from the producers or being directed to say certain things.

‘It’s just you, pitching your business to the Dragons, then being questioned – all in one natural, real take.

‘The first time you see the Dragons is walking out of the lift – it’s just like how viewers see it when watching from home.’

NO ADVISERS TO HELP WITH YOUR PITCH

‘There are no advisers on hand to answer any questions or to give you advice in terms of your pitch. What makes the show so great is that it’s completely real,’ he added.

‘The first thing I noticed when I walked into the room was how big the smiles were on the judges’ faces. We felt really welcome, and the Dragons genuinely want you to do well.’

THERE ARE NO NICETIES

Edward’s business partner Richard said: ‘Walking out of the lift, I intentionally tried to make eye contact with each of the Dragons.

‘From memory, Sara and Deborah were smiling and settled me down (Peter Jones was a little more stern).

‘There are no niceties though, we were straight into our pitch. Three minutes, one opportunity – thankfully we made it through. In fact, it went better than most of our practices – nothing like a bit of pressure and adrenaline to get you through.’

He added: ‘The Dragons were less intimidating and more supportive than I imagined.’

Here, Edward (pictured with his team) reveals what happened when he appeared on the show – from the very detailed applying process, to the ‘one, natural take’ and the lack of advisers

HOW COVID AFFECTED OUR PITCH:

Richard continued: ‘Viewers will have noticed Edward and I were separated by a partition in the lift. We stood apart for the pitch, and the conversation flowed.

‘After some (many) cheese puns we received three offers (Peter, then Steven and Touker). Edward and I headed to the wall to discuss – but due to the fact we had to be socially distanced, I’m the first to admit that I didn’t hear a huge amount of what Edward was saying.

‘But I knew the gist and after a short negotiation, we agreed a deal with Steven. Result. Then we had some awkward, socially distanced first bumps before making our way back to the lift.’

YOU WILL BE NERVOUS

‘Edward and I travelled to Manchester the night before to avoid any last-minute travel hiccups, but I proceeded to get absolutely no sleep and felt anything but refreshed,’ admitted Richard.

‘I tried to eat but it took me 30 minutes for a bowl of Cornflakes. Not a good start. We arrived at the studio at 7am as we had a morning slot… and the waiting began. I tried and failed to eat again.’

Edward added: ‘Containing nerves is pretty tough but remember the Dragons want you to be good. They will smile when you go in, and they will be rooting for you. And again, none of them knows your business better than you.’

How to deliver the perfect Dragons’ Den pitch, according to a victor

Here, Edward reveals how preparation really is the key when it comes to holding your own in the den – and what entrepreneurs should avoid doing on the show.

Watch every episode of the show

He said: ‘I watched every single episode of Dragons’ Den (that was available online or on catch-up) ever recorded prior to going on the programme. On numerous occasions my wife Rose found me watching it in the middle of the night.

‘I wanted to ensure I had thought of every possible line of questioning that the Dragons might deliver on the day of the pitch. I also wanted to make sure I was prepared for any possible negotiations, should we be made an offer.

‘By watching the episodes I learned what made a great pitch, and which pitches went really badly. This meant I could identify the most common mistakes made by business owners, as well as the things that earned credit and praise by the judges.

‘The closer we got to the day, I actually found that watching more episodes was having the adverse effect and making me more nervous – I imparted a self-imposed Dragons’ Den ban in the week before filming.’

Practice makes perfect

Edward said: ‘I practised our pitch a lot. And then more. And then again. I probably rewrote our pitch around 20-30 times if not more and read it more than 100 times.

‘You have only three minutes to make your pitch when you’re in front of the Dragons, so every single word counts.

‘Don’t just practice the pitch in front of your family or the same person, make sure new people hear it otherwise you go into cruise control when talking, which means you won’t be fully prepared for the ‘shock’ of pitching to the Dragons. We even practised it in front of cardboard cut outs of every Dragon!’

Do your homework

‘I researched each of the Dragons endlessly – what had they previously invested in, what was their set of skills, what were their likes/dislikes/sense of humour,’ said Edward.

‘We even found out Deborah Meaden only ate a very specific sort of cheese, so ensured we tailored the taster boards we let the Dragons try during the pitch accordingly.

‘They have no idea who you are when you walk into the den, but you have the chance to research them in fine detail and find out about their experience, and their business interests.

‘Knowledge is power. As with any investor, they are investing as much in you as your business, so it’s in your interest to show yourself in the best light, and to show that you are someone who has incredible attention to detail.’

What’s the one biggest mistake made by entrepreneurs in the den?

‘The biggest mistake is not knowing their finances,’ said the businessman. ‘It’s not OK to say “I’m not a numbers person” or “I am not good at the business side of things”.

‘This is your business. If you don’t know what is going on behind the scenes, then how can you expect an investor to understand and be comfortable enough with it to make an investment?

‘Each of the Dragons is making a decision on the spot whether to invest in your business, so why make it harder for them?

‘When pitching, remember not to ramble or waffle. When a Dragon asks a question, be confident enough to answer it clearly, get straight to the point, and then stop talking.’

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Read more at DailyMail.co.uk

Dragons’ Den victor reveals what REALLY goes on behind the scenes

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