Dragons' Den is a
creatively conceptualized TV programme that picks its root from Japan . The
concept has become widely known in some parts of the world. Perhaps the most
talked about of its versions, is the UK's Dragons' Den, which has been
successfully adapted, made better and more popular with the crisp and almost
impeccable approach of a 5-man panel of self-made, tested, experienced and
highly successful entrepreneurs. Duncan Bannatyne, James Caan, Peter
Jones, Deborah Meaden, and Theo Paphitis, are called The Dragons.
These individuals
do come across as business personalities that are willing to invest their hard
earned money to have a certain percent equity in any viable and potentially
rewarding business proposition brought to them by members of the public who are
known as Entrepreneurs on the show. The Entrepreneurs have business ideas but
lack the financial muscle to bankroll them, hence the Entrepreneurs are
compelled to book a space to enter into the Den one after the other. The
Dragons in the Den are comfortably seated with heaps of cash on their tables
for use as equity investment in the ideas that impress them.
In many series,
some Entrepreneurs have left the Dragons' Den with wide smiles on their faces
as indication of a desirable business agreement between them and the Dragons,
while some have left with brutally bruised egos and expectations, on other
instances.
Even in some
instances these experienced business personalities - The Dragons, have been
proven wrong in their lack of commensurate knowledge for seeing through
potentially profitable business ideas presented to them by the Entrepreneurs.
This has led to the rejection of a number of ideas that later turned out to be
instant successes through the support of business-savvy viewers and private
companies who constitute the programme’s viewership.
Now, Dragons' Den
is running in Nigeria
with the huge support of the United Bank for Africa (UBA) and a handful of
partnering corporate organizations. Viewers in the UK watch the show on Africa
Independent Television (AIT) International on SKY 187 every Sunday at 9.30pm.
But at variance with the UK's
version, the Nigerian version of Dragons' Den has a convoluted panel of 6
people made up of so-called self-made business personalities. Maybe apart from
Alex Amosu, John Momoh and Chris Parkes (the white guy on the panel), in
reality, half of these panel members are largely people who inherited wealth
from rich parents and who also had it easy convincing one laid-back moneybag
Otunba, Alhaji etc., to represent such in their business interests. Precisely,
members of the panel are John Momoh (a renowned TV personality and the CEO of
Channels TV), Alexander Amosu (A British born-Nigerian successful entrepreneur),
Chris Parkes (A successful British business man in Nigeria), Tokunboh Ishmael
("17 years experience spanning investment banking, private equity
investing, etc.," according to her profile on the show), Ibukun
Awosika (''a daring entrepreneur who ventured into the furniture
business....establishing The Chair Center Ltd '') and Femi Tejuoso (''is a
prince whose last name inspires awe and respect for the business savvy
associated with his lineage'', also according to his profile on the show).
Though Nigerians
are sometimes good at replicating ideas, most especially those that can be well
adapted and implemented in line with the realities of our environment for the
actual betterment of our nation, the same way we see meaningful ideologically
based exchanges between Americans and Britons in the areas of entertainment,
social development, politics, etc. But we seem to be getting it awfully wrong
in a lot of ways with our latest craze for foreign reality shows that litter
our TV channels. Apart from the fact that we lack most of the technical
know-how to run many of these shows, more often than not the people who sit at
the helm of these TV projects often exhibit an embarrassing and indeed
appalling lack of common intelligence that is capable of making-up for the
technical inadequacies.
To say that there
has been a lot of embarrassing delivery and manners of approach on the part of
some of the panelists on Nigeria's
Dragons' Den in relation to the Entrepreneurs is to say the least. But the
latest onslaught which could further stultify Nigeria's nascent entrepreneurial drive,
came on the show this last Sunday, 5th October, 2008, by Femi
Tejuosho (one of the Dragons) on one of the Entrepenuers named Olufemi. Olufemi
confidently walked into the Den with his female partner to seek for a 4.6
million Naira investment from the Dragons in exchange for 30% ownership in
OLUFEMI Clothing. Any discerning viewer would have been held in amazement with
the collection of casual and corporate unisex clothing creatively designed and
sewn by Olufemi with the assistance of just two tailors working for him,
presented to the Dragons, as some of the products made by OLUFEMI Clothing. In
the interaction between the Dragons and Olufemi, a sudden question popped-up
about the cloth which Olufemi wore to the show - a well tailored ensemble, a
shirt and a pair of perfectly trimmed trousers. A bombshell was detonated when
Olufemi said he made everything himself. There was a brief silence on the side
of the panel, after which a voice suddenly echoed from among the Dragons. It
was Femi Tejuosho’s voice of admonishment that Olufemi should create a unique
Afrocentric style and also that he should create an identity for himself,
rather than OLUFEMI Clothing trying to replicate ZARA in Nigeria.
I was very bitter
to hear such a comment from an individual like Femi Tejuosho whose only
identity of success is the fact that he was born into the Tejuosho family
and as such, inherited the popular Tejuosho Market, oh sorry! Tejuosho family
business. An overt Eurocentrist, sitting as a Dragon on a foreign TV programme
courtesy of UBA funds, hypocritically advocating afro-centrism, when he and his colleagues on Dragons' Den
are always sporting foreign designer brands!
He mentioned ZARA
as if ZARA products are originally made from the UK
or Spain
(where ZARA was
founded). A good look at every label of ZARA reveals that most of its products
are made in poor neighborhoods in India
and China,
with the ceaseless efforts of hapless creative minds like Olufemi working as
cheap labourers for big names like ZARA. Their sweat is later sold to petty
bourgeoisies like Femi Tejuosho in different designs!
I doubt if true
entrepreneurship can thrive in Nigeria
with the likes of Femi Tejuosho having a free ride to pontificate on
entrepreneurial affairs when he lacks a credible track record as an exemplary
entrepreneur. This is the type of people killing the entrepreneurial spirit
embedded in our young people. May God save Nigeria from the hands of opportunists
like Femi Tejuosho. And may UBA strive to put its money on the right spot.
Brilliant article! Good observation. Don't mind the opportunist, wagging his tongue like as if it's easy to come up with creative ideas. He talks more than the other Dragons and always look for holes to nail the potential entrepreneurs. UBA should replace him with a tested, logical and more intelligent successfull entrepreneur. May God help Nigeria!
Thanks for your article. I also watch the Dragon's Den that particular edition inclusive. DD's very interesting programme. But you are too hard on Femi and his chums on the 'panel'. It is true that some good business ideas may have been shot down, temporarily, but then Colonel Sanders was rejected many times more than Olufemi (or others who have suffered same fate on the show) and even heard much harsher and crueller words of discouragement. Edison had to instal his bulb FOC in some buildings just to announce himself to the world. An idea that its time has come can never be stopped, please note. These are what happen in the business/invention world but the tenacity of purpose and perseverance on the part of the bizman will eventually reward him. It is a lesson in biz and life: expect rejection even with world beaters of products or services or intentions or ideals. There is a seed in the rejection that will bear the fruit of reward.
You never mentioned watery biz ideas or phony proposals that the savvy men smelt and poiinted out for all. Doing or proposing business no be jokin mata as have been pointed out on the prog.
We have hard working, honest Nigerians who are out to make a clean living yet we have others who want a free meal the easy way.
All in all, the program has not done that bad especially when viewed form the education, entertainment and the business 'angel' angles. I will score it 70%. Other corporate bodies should look into this form of reality show instead of the drab, unserious and low quality ones that add NO value to our general advancement. I no mention any name o but use your tongue to count your teeth.My views no be PR stuff please.
Authors 
Posted by Robot| 08.10.2008 23:15