Seminars

Sharon Wright

1300 – 1345: English Partnership Suite

Sharon Wright's appearance on Dragon's Den was a masterclass in how to spot a gap in the market and gain investment.

In the five year history of Dragons' Den, it is hard to remember a more perfect pitch than that of Sharon. She demonstrated her invention Magnamole which allows cables to be safely threaded between cavity walls.

Whilst pitching, the Dragons certainly seem impressed by her figures: in dealing with a major telecoms company she has estimated that by supplying their engineers with the product she will save them £6.5 million per year in downtime alone.

She is asked why if things are going so well, does she want to give away equity in her ‘fantastic’ company? Deborah Meaden joins in the praise, along with Theo who tells Sharon that this is the first time an entrepreneur has come into the Den and all five Dragons' jaws have dropped.

But for Sharon the deal is not necessarily all about the money. She tells the Dragons that she is working 16 – 20 hours a day; seven days a week and she would like their help to take her company to the next level. She can currently only afford to employ somebody for one day a week and has to work days, evenings and weekends to get the job done, with only the support of her twelve-year-old daughter who she describes as her biggest fan.

In a rare moment of role reversal in the Den, Duncan and James ask Sharon if they may go to the back of the room to discuss their offer. Duncan and James return to offer Sharon more money than she’s asked for - £80,000, but in return for 25% of the business.

Would-be entrepreneurs should take note of it as a textbook example of how it should be done.

She not only got more money than she had asked for, she also managed to secure her investment on better terms than she had originally asked for. In other words, she sold shares in her company at a higher price than she had originally been demanding.

The deal done in the den: £80,000 for 22.5%.
A true dragon slayer.

Click here to visit Sharon's website

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