What really happened on Dragon's Den

WHAT REALLY HAPPENED ON DRAGON’S DEN
What actually happened when Alan McElligott went into the Den was the complete opposite of what he had been expecting.
Background
As a successful businessman, McElligott was keen to meet the Dragon’s as he had already invested a lot of his own money into the development of Bottle Buddy and was ready to take the business to the next level. He needed investment and support from serious investors who could help him maximise the potential of Bottle Buddy by investing their money and business expertise in his business.
McElligott knows from the industry response to The Bottle Buddy that he has invented a winning product for the nursery market and walked into the Den with the endorsement of industry professionals and orders and interest from retailers and distributors all over the world.
Since McElligott invented the Bottle Buddy, his business has gone from strength to strength. With support from the UKTI (UK Trade and Investment agency) and sales agents in the US ready to supply Walmart, Sears, Kmart and other leading US retailers McElligott was hopeful that the Dragons would be interested in his product, recognise its potential in a market that in the UK alone, sees 750,000 new babies being born a year with few being breast fed after the first few months.
Facing the Dragons
“I knew they would be tough, and knew it wouldn’t be a done deal just by showing them the product. I was extremely well prepared and knew my facts and figures back to front and expected to be put through my paces and I was prepared for some challenging questions but I did not for one minute imagine that some of the Dragon’s would communicate with me in the way that they did”, says McElligott.
Alan went into the Den and explained to the Dragon’s that he had invented the Bottle Buddy after repeatedly miscounting scoops of formula into his baby’s bottle. After one particularly difficult night after trying to comfort a crying hungry baby while preparing a 2am feed Alan searched the web and the stores for a product that would quickly and accurately count the powdered formula into a baby’s bottle. Discovering that no such product existed, Alan invented it himself and the Bottle Buddy was born.
In the line of fire
“As soon as I demonstrated the product James Caan very nicely explained that the product was not for him, and was the first to admit he had help with is babies. He also said that Theo and Duncan also had help at home with their babies so they wouldn't understand about the need for a Bottle Buddy, because like him, they’d probably never made up a baby’s bottle.”
“I really appreciated James Caan being so honest and upfront with me. It was clear that Theo and Duncan really did not understand the product; they kept trying to shout me down and did not listen to any of the answers I tried to give to their barrage of questions. They were basically rude and aggressive and talked over me and I feel they were playing up to cameras and were not taking my product seriously - this experience was nothing like any professional business meeting I’ve ever been to”, says McElligott.
Grandstanding by the Dragons
Neither Theo nor Duncan appeared to want to hear what he was saying about the buying process at one of the UK’s top retailers and they kept shouting and talking over him, nor did they seem to want to understand the product or the financial information he was trying to explain to them.
Well prepared
“I was of course thoroughly prepared for the meeting and had submitted an extensive business plan to the BBC before the show. Additionally, as I know my business so well I knew all the figures and profit and cost projections in great detail. I don't think they liked the fact that I was so well prepared, that I knew what I was talking about and they kept trying to trip me up and shout me down”.
New Dragons needed
McElligott feels that the programme needs new Dragons who are serious about investing in companies which have potential; “I think Theo and Duncan appear to be only interested in the fame and notoriety the show has brought them, and are no longer serious potential investors. The show needs new entrepreneurs, serious business people who are really interested in investing in new business ideas and can recognise a good idea when they see one not people who are enjoying their fifteen minutes of fame”.
Mcelligott’s says he’s out and the money comes in!
Luckily for McElligott, on the same week he was filming Dragon’s Den he received an offer from another potential investor. “As I knew that I had an investor lined up who was offering me exactly what I wanted from the Dragons I felt confident that I could walk away from the Den at any time”.
Alan says that “since filming the episode the business is moving ahead and this is a very exciting time for us. Everything is coming together and I know I’ve got a great product as the response from industry professionals and parents alike has been fantastic. It is truly an innovative and unique product and I am confident that I am going to make a success of this business, especially know I have the investment I need to move the business onto the next stage”.