Rich Entrepreneurs Put Peter To Shame “You’ve Got More Money Than Me!” | Dragons’ Den

all right really much yeah i'm ready for all right so we're going in cover's off do the best you can yeah our first candidates for the dragons cache have come a long way from humble beginnings as a waiter and forklift truck driver to build a multi-million pound transatlantic business yeah we've got a lot of experience but going into the den is a completely new experience for us we're more used to being on the other side of the table okay yeah you set ready i've learnt the pitch i've done it a hundred times i'll probably forget what i'm about to say next if you get stuck just look at me okay if i don't take over panic they're here today with a completely new business a personal security product and they want a dragon to help fast track it to be their next big money spinner hi i'm roger williams and i'm phil stratford and we're the owners of the multiple award-winning door jammer we're here today to present you with an opportunity to invest 80 000 pounds for a 15 share of our company have you ever been in a hotel room where you don't feel 100 safe you look at the door locks you think they're not fit for purpose uh wouldn't it be good if you had a simple solution that you'd give to your children when they go off to university or they go on holiday that would make them travel and feel safer well rog now there is a solution okay dojamer is a small innovative patented device that fits neatly under almost any door in the world can i just demonstrate it to you how it works so you fit it under the door and then you begin to wind the jammer up until you get contact with the door you try the door uh to let you know that it's connected but if you then had to leave the room in an emergency at any stage we can go down and do it pull the jammer and it will come away we have sales in over 25 countries so come and join us and let's scale the sales together [Music] no forgotten lines from roger willems and phil stratford these days hailing from opposite sides of the pond they're hoping a dragon will unlock the door to success by investing 80 000 pounds in this sideline to their business keep the girls away from them in return they'll give away a 15 share the product has made sarah willingham keen to get hands-on i would actually quite like to try it with the door sure would you mind putting it back and we'll have a tug on it okay you normally want to try and get in with it wouldn't you yeah i did but you wouldn't be this side of the door would you you're trying to prevent people from getting in okay he's ready you actually thought you'd come and take it peter steph i mean you put out my bedroom sarah it's definitely a deter i think it's it's a deterrent but there's no doubt if you wanted if you wanted to come home she'll give a kiss i'm gonna let that i'm gonna leave that to somebody who's better dressed for it i think whoa here we go it's quite good dad give me the final touch but not brilliant [Music] nick jenkins takes advantage of a rare opportunity to flex his muscles with disastrous consequences for phil and roger and it's kicked off thoughts about the product's necessity for peter jones why wouldn't you you know the door stoppers you have i have them in my house they're wooden why wouldn't you just use that they usually kick away this gives you a higher level of protection i mean nick is not known for being a bit of a bully boy and yet it took him about 10 seconds to get into the hotel room it takes you about three seconds to wake up but the thing is that doesn't help me if i'm lying in bed in my underwear the whole point about this product surely is to prevent somebody from getting in not to give you an extra 10 seconds is to prevent silent entry is the idea and of course like most security products yeah if if someone wants to get in most places they can i mean i was in a hotel in malaysia where they had guards on the left and i had dojama with me and at least i was able to get a degree of comfort that had a level of security that the um i could control as well um roger i think that's just salesman's nonsense if your product only gives a 10 second delay you put a table or a chair next to the door it's exactly the same phil and roger can't seem to convince peter jones that their product is the best solution for the problem it's designed to solve and now deborah meaden wants to talk hard cash um how much does this sell for they sell for 24.99 so how much are they costing you to make we we buy them for 6.39 oh so you're not making them we are making them so doorjama buys them for 6.39 we make them in our factory for 4.50 okay you probably need to explain that to yes so we have a business we've been partners for more than 30 years and we do industrial products business to business products so that's your separate business yeah and yourself you have to invest in a business that only does door jamming yes um not surprisingly i just want to understand the relationship so this other business you've got how big's that 70 million dollars turnover yes turns over 70 million dollars a year yes um that's quite a good business that's a big business can i ask what profit does it make company uh ebay does about 10 million so you make 10 million a year um you got more money than me [Laughter] dragons i'm a multi-millionaire um i don't need money and from his doorstopper we have made millions can i can i just say [Laughter] news of phil and roger's other successful business has certainly created a congenial atmosphere in the den but now all are back in their rightful places that 70 million dollar question is still hanging in the air [Music] what are you doing here you know you you'd have many other ways of gaining roots to market i mean you must have when we first got door jammer we spoke about how we could possibly get it to market and we only know the business to business group that's through trade fairs we we think that you have got the type of expertise you've certainly got the profile and we don't we actually pitched it to robert diaz about a year ago and i mean they weren't that interested well that's interesting why not i mean they're you know they're professional buyers their jobs to find new product and this and you bang on that's exactly what you're talking about i think we weren't ready i think we were too amateurish for them we probably couldn't answer all the questions that a consumer company would want i will not accept that it's the way you presented it because any professional buyer will get over that they will you know they will think oh good product like that i mean when i first started with it i tried to find a pr company to handle it no no this is the same thing i am being very very specific so why were you told they were not interested in this product we found that home depot costco they all look at the product say they're interested decide that we're a one product company and channel this off to a to a distributor let's see that worries me even more that worries me even more because those names that you've just listed i've got product in one product and they were so quick off the mark i can't tell you see it love it buy it you know so that's my worry i don't get it the dragon with contacts in the product's target stores casts doubt over its sale ability in them and this successful business double acts inability to get the product to market has sent two cousins into a state of i confusion wear the pair of you out you know here you are you're acting a little bit twiddle dumb and twiddle d and you're acting as if you've never been out there but you're you're very astute the pair of you yeah we're professional uh business guys you know we're both out there doing the business that we understand what we're probably saying quite badly is that the consumer side of it we've not got proper experience in it and coming to the den and getting someone on board who understands that will drive it forward but if i invested you'd say we want a dragon on board so they can really help us get the product out there you'd put all that pressure of the sales back on me i think myself how many hours a week have i got you don't need a dragon you don't need my money and for that reason i'm out phil and roger's success in business has led to failure with potential investor tuka sullivan and it doesn't look like it's gone down well with nick jenkins either the thing that i really enjoy is investing in businesses to really make a difference to support people who are going to go and create a great business not really terribly interested in in in effectively supporting a little tiny sideline of one of you know your enormous business it's just not that appealing it's not for me okay so i'm out thank you thank you my biggest concern you've already tried to sell it to a lot of people and those are the people that i would be able to introduce you to because they're uk contacts and they've already said no so genuinely i don't think i've got a lot a great deal to add so i'm out you're gonna sell some of these you're gonna make a bit of money but it kind of it feels like it it's not that important to you because you've got this whole other successful life going on which you're not certainly not going to critic well done but it kind of then loses a piece for it so i'm afraid i'm out deborah meaden becomes the fourth dragon to show phil and roger the door does peter jones have more faith that these successful businessmen have what it takes to build another multi-million pound enterprise i think you have done incredibly well i'm a little bit frustrated at the fact that you've done so well in your own business and yet you thought that this could be the route that you need to go and sell this product i don't buy into the product i think it is totally over engineered but i don't think it's going to affect your lives you are multi-millionaires in your own right and i congratulate you but um i'm not going to invest in something that i just don't think is necessary so i'm going to say that i'm out thank you thanks very much it was really interesting bye-bye so phil and roger's concerns about their ability to sell becomes a self-fulfilling prophecy as they fail to persuade the dragons to buy into their dream you never see yourself in some from somebody else's eyes absolutely yeah maybe it was maybe working with guys that are running a 70 million dollar business um maybe that put them off maybe maybe they think we should have been poorer and that might have made a difference really good i really enjoyed that the one bit that was really unexpected roger i don't know whether you noticed but i've got a new partner peter jones he seems to be my new business partner but don't worry i'll never swap him for you thank you you

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Views: 213,270

Rating: 4.8559446 out of 5

Keywords: dragon's den, dragon's den uk, evan davis, deborah meaden, peter jones, touker suleyman, tej lalvani, business pitching, entrepreneur, game show, reality tv, shark tank, funniest shark tank pitch | door lock demonstration, door lock, mark cuban, best fails, epic fails, fails 2020, Roger Willems, Phil Stratford, more money than peter jones, dragons den roles reversed, dragon pitches to entrepreneur, staged bidding war, millionaire, millionaire mindset

Id: zS6VRvF6Vzk

Length: 13min 8sec (788 seconds)

Published: Wed Nov 11 2020