For the first time in at least two series I watched a bit of Dragons Den last night. Why did I stop watching it, especially given what our business does, I thought it was too staged, sliced together for entertainment value, close up shots of people sweating, and overall had just became too much away from what a "business" programme should be.
I doubt they were ever trying to be a business programme - I did get that. However one thing that has not changed - bar the two girls with the glitter make up, why do contestants have no strong understanding of the numbers. Yet again it was a mixed up batch of data that was not connecting that came from the contestants, not easy to understand financial information. A lesson is in there for all.
Colin Cowap in 2014 surveyed 1000 SME's and 61% of them didn't know their Turnover, Gross Profit or Net Profit. That says it all.... We work with companies all the time improving their understanding of the numbers, how to report them and interpret them. Understand your numbers you will have a greater understanding of your business. If you do that and are going on Dragons Den it is at least one less thing they can pull you apart on.
Enjoy next weeks episode..... I think I will give it another two years.