This evening, the Toronto Board of Trade hosted the One-on-One with Dragons’ Den panelist. We had the opportunity to ask W. Brett Wilson (a Flash site) from Dragons’ Den, along with a very successful entrepreneur Gloria Rajkumar, president of Simac (4th in Profit 100) and Mike Michell, the National Director for Small Business (RBC) a series of questions in regards to entrepreneurship.
Much was said, but most importantly from all 3 panelist, the key to success is the marketing and sales aspect of the business. All 3 panelist stressed that, and business plans are not as important anymore. Without a sale, your business is worth nothing, and without a sale, your business plan doesn’t matter even if it sounds like gold.
Brett said, “a great entrepreneur is someone who doesn’t know it all.” However, you can’t know nothing either. But if you really don’t know something, be honest and proactive by saying “I’m not sure right now, but I’ll find out.” Of course, you can’t do this with every question, so make sure a lot of research on your target market and your competitive landscape before your next pitch.
This webcast was taped, and thanks to Direct Engagement, the questions and answers can be found here:
What makes a successful entrepreneur?
Biggest character flaw you look for?
How important is it ‘who you know’ starting out?
What were your limiting beliefs & how did you overcome them becoming an entrepreneur?
Common traits of successful entrepreneurs?
The essentials of good marketing & sales?
On giving back to the community?
Related Article: Globe and Mail