Who saw Dragons’ Den when Dianne from Zebedee came in? It was a cracking episode wasn’t it?
It was a difficult one for me, because I really liked Dianne and believed in her as an entrepreneur. However, the business model that she presented to us just didn’t stock up, commercially at all. And the valuation she offered on the business was a million miles away from any valuation I could reasonably compute myself.
I could see the potential, but I felt that the business model needed a whole rework. She was carrying so much overhead, for all that her gross margins looked healthy. The net profit was almost non-existent, but that’s something I can work with her on
So, I’m excited to start this new chapter in her business career together as we take an index look at the overhead cost in the business. We can streamline the business so that she not only has a great product, but also a really profitable company that should set her up for life.