Your Idea Can Make You Rich

In the BBC TV series "Dragons' Den", entrepreneurs were put on the spot in front of a panel of potential investors. Given only minutes to pitch their idea, the pressure was on - some simply frazzled in the fiery breath of the dragons, others sweated it out, made it through, and saw the money on the other side.

Many of us dream of running our own business, but lack of experience and entrepreneurial skills often prevent people from making that first step. For those with the nouse, confidence and, crucially, vision it should be easy - but a great idea doesn't mean investors will be queuing up at your door.

Here's one of the successes - but ask yourself who got the best deal?

Tracie Herrtage wanted £54,000 for her suspendable Le Beanock - think the bean bag meets the hammock suspended from high ceilings and lofts to replace your sofa at a price of around £900.

The male Dragons mocked the idea and thought the prices swung too high, the concept ungrounded and it wasn't an interesting proposition for their equity. But Rachel Elnaugh wasn't put off and agreed that Tracie's vision hit a niche market.

Yet business is business. Rachel seized her opportunity and cut the tightest deal yet, buying 49 per cent of Tracie's company for £54,000 as sole investor.

Using case studies from the series, updates on the progress of the successes and failures, this book guides you through the hazardous process of finding your product, identifying your market, developing and maximising your business acumen, honing your presentation skills, and finding the right partner. Most critically, it also looks at how to close the deal when you do find it.