Episode 1 Be Your Own Boss

This programme contains some strong language. Meet Richard Reed the

smoothie behind Innocent drinks. He's Britain's hotest entrepreneur

and on the hunt for the business stars of the future. The mission is

simple. We want to spot and support and invest in a whole new

generation of entrepreneurial talent. He set aside up to a

million to invest. Anyone is capable of setting up their own

business, need a good idea and prepare to work hard. Now, 500

hopefuls, will get the catch to pit their ideas to Richard. From the

dazzling. I absolutely frigging love it. To the diabolical. It is

an awful idea. Each week, he will pick the best three. It is about

the idea but mostly it is about the team. To put through their paces.

You got to think about it, as entrepreneur. I want to work for

myself. I'm trying to help you to be as successful. I dancing

fireplace. Did I mention, I don't know how to run a business. They're

not thinking big enough. Before deciding who is good enough to win

a once in a lifetime investment. is hard to take you seriously. The

business plan didn't make sense. It is a good idea but the results are

A summer weekend in London and huge lines of people are gathering to

meet one man. Richard Reed, made his fortune when he helped found

one of Britain's biggest brands, Innocent smoothies. I massively

believe in the UK we are are an incredible country for source of

entrepreneurs. So great is his believe that in one hour's time the

doors will hope on this vast arena. And 500 hopefuls, will compete for

Richard's business backing. flat out excited. What there is all

the empty booth. Each one has the name of the different which iss and

you think each one is a story, a team, an idea, a dream, and I want

to meet them. In a group of confidence he's turned over a

hundred pounds to see if they make a profit. A total give away of

�50,000. What they did to make money was up to them as long as

they filmed it. The numbers don't match up. Some went the

conventional route. Others, not so much. Living the dream. Now,

they've been invited to meet Richard in person. All I've seen is

500 people queuing up in the rain and in a few minutes I will meet

them for the first time. I can't wait. It is going to find out

whether we get �50,000 back, or will we meet the next Google or

whatever it is one of these knows one pitch to Richard could change

their lives forever. Trying to bring cheese and crackers to the

mass market. It is OMG, oh my God. O Doh. Today we are nae Yorkshire,

tomorrow the rest of the world. We're gagging for it.

Invest in us. Invest in me. Invest in her. Richard's money will not go

up in flames. Nice and rich. For Richard whose reputation and

fortune is at stake, this is a gamble. This the first time I'm

seeing the names, the people. The first time I'm getting a sense of

what the business is. I am thinking, I want to check that, that one

sounds interesting, not sure about that one. But I want to meet all of

them. Some are going to crash and burn, but some are going to make it.

The hundreds of waiting hopefuls are in no doubt one nod from

Richard could be the making. shaking.

I'm sweaty. Just practising my pitch. I'm the youngest person in

the competition. A lot is riding on First to pitch is shy and retiring

sales executive Mo Farah who is especially hungry for success.

Porridge power. She knows why Richard should invest in her.

sure Richard would love to be associate with the that, it is a

positive, yeah... Farwa wants to launch a chain of breakfast bars,

selling, you guessed it, porridge. It does what it says on the pot,

energises you, fuels you for the day, it is the perfect ultimate

breakfast. But will Richard share Farwa's appetite for porridge for

power. My thought is I love porridge. But now, I can buy it in

prep, eat, high street everywhere. How are you going to survive, just

being a sole porridge supplier? Because I'm unique, I have

identified a gap in the market. I'm providing hot from the pot, for

people on the run, a porridge power. Look at it, healthy, whole grain,

nutrition, it is low cost, versatility, it is not a

prepackageed progressed food. I'm a big fan, but, what is the idea. Is

that in a station forecourt or? That's the future, that's my vision,

but obviously, I want to develop my product. I want to get it out there.

No-one knows about porridge power. Well what about that. Show me the

money, do you know how much I made �665. Well done on the resource.

Thank you. I definitely will. you had your breakfast. It is a

great opportunity, how many times can you do that in your lifetime. I

really hope he vefs in me. Porridge lady, I loved her. Brilliant energy.

What I'm nervous is there's a lot of porridge solid in the UK these

days, and how is she going to take on the might of pret a Manninger,

how will you beat the competition, why you over someone else. Those

are the questions, every business has to face. Richard is looking for

the first three ideas to invest in, and they could be anything. From

freaky foods. To incredible inventions. Mate this

looks great. What is it? Cheeky branding. Basically, I have loads

of followers on Twitter. This is like terminatetor. Dogs and humans

can dine together. And, weird and wonderful creations. As a room full

of entrepreneurs, it is awesome. But awesome enough to persuade

Richard to part with his cash? The next pair, certainly think so.

Prepare to meet the shamelessly named Innocent Chicken. They're

trying to curry favour with supersweet culinary concept. What

is it? It is time to bring out something new, like you did. We

thought, we have the craziest flavours, marshateed chicken,

bubble gum chicken, mango flavoured chicken, something that's not out

there. There could be a reason. Maybe we could exploit it. Fruit

flaifed chicken, there ain't no chicken.

Good spot Richard. Basically, it is concept actual at

the moment. Ummm well I tell you what, if you ever got some, I'll

try some. Two boys, one bad idea, no chicken, difficult decision for

Richard? You can't really pitch an idea for a product, virtually.

You've either got a product or don't. You can have a virtual

business business, but not chicken. It is difficult sometimes to decide

whether to invest or not. And that just wasn't one of those times

where it is difficult. Unimpress with the this, minimalist approach

to pitching, Richard's on the hupt for a product he can get his hands

19-year-old, Besy Mates, AKA the lazy cam per have come fully armed.

If you look at someone's elbow, you never miss high five in your life.

Their idea is a all in one festing camping kit. They're doing all they

can to get Richard's attention. But when Richard comes acalling, will

they talk their way into the top three? Hello boys. This is

absolutely everything you need to camp. Tents, mats, sleeping bags,

all this stuff. For �59.99, you're joking. Two Olympic camp sites,

With several festivals. Can you make profit. Double profit. So

there's a margin there. How much have you solid? We've only got

stock in thrast Thursday, we had 23 orders, so we have sent them out.

We had interest fromam zones, they want to order thousands, of kit

offers. We need help in taking the idea forward, in sales,

international markets, and opening doors. That's great, well done.

don't get the nefbous talk, I started talking but hopefully I was

clear. He seemed keen on the idea. I'm nervous, but we'll see how the

day turns out for us. Will Richard put the boys on the short list.

They've the best value camping kit in the universe, I'd like work for

them, they have trade, Amazon interested, they're from the north

which is a massive plus point. 197 pitches to go, and money at

risk, Richard drafted in expert help. From make-up and marketing

from Ap developers, between them, these are Britain's entrepreneurial

finest. Their job is to help Richard sort the brilliant

businesses from the Ballsups. on-line obligation for woman that

is both intelligent and in control for yourselves. Why have you gone

for that name. Is it stands out. wish you the best. So it is like a

word search, but where it difficulties, there's only one word

to find in the whole thing. I worry, you have something here that's not

that unique. Right now, he's thinking of two words. How do you

pronounce it. Les. Anges. Noirs. Over lunch, Richard and experts

discuss the ideas they've heard so far. In a recession, we're saying

it is all go to sit, and people are taking things into their own hands

and doing it. I feel like a gold prosspecktor, running for gold.

When you look like in Tim'sive, what are you finding mud or have

you nuggets. There's a couple of nuggets. Despite the joking Richard

has taken a slice of his fortune N finding his next big idea and he's

got his work cut out. disappointed at the moment. I saw a

fewerlyer, that got me excited, but the last session, it didn't feel

great quality. But there's so many ideas here, I know there's going to

be gems. I want to get out there, and find them. First up, are two

designers with a difference. name's Richard. We make up Poietic

Studio, and the proposition is as baffling as their name.

generally make living sculptures, so interactive pieces that engage

in humans. It includes ping pong balls and floating globe display.

They have a new concept they want to try out on Richard. Hello, nice

to meet you. Tell me, I can't guess what this is actually. A demo is

the best way to have it. If you stand in front of us. Is this going

to hurt? It is graceful and slow, to realise it is stood there, and

assesses whether you are thirst city or not, and it comes up

towards you, as it gains weight, leans down towards you and powers

you your drink. It should pour an exact amount. That's brilliant.

Graft brings it down and it sucks it back again. Is it art

installation. We approach things concept actually, come up with idea,

and then find the commercial route we can take it. Whatever market

that goes into, that's what we go for. I think there's something so

exciting about it. I really like t

I think it went OK, the nerves got to me, so I messed up a few of the

important points. You didn't pour juice over his head. It is

brilliant. What do you make of that. On one hand I'm thinking, that's

amazing piece of art but not much commercial opportunity. On the

other hand, you're thinking, no, that could be in house of lobbies

across the world and they're brilliantly concept actually

intelligent people. And maybe you just want to back them and see what

they come up with. Have these two done enough. Richard needs three

killer ideas, and there's plenty to see. What will he make of the next

vomiting inducing idea. You've got this cup, looks normal. If you open

it, you need to be sick, sick in the cup, and sick, chew it, bin it

is our slogan. Why not be sick in the cup. Because it is not big

enough. It is an awful idea. If you're a couple of design engineers,

make a better mockup. That's literally a Starbucks cup cut up

with pink tissue paper. I could do that. As the day draws to a close,

some ventures go to great lengths to get Richard's attention. We're

going in the womb. It might just have worked for mango

Bikes. Is this all right or are we awful. We're not actors. Meet

suited and booted, Ben and Jes. They may look square but they've a

wheelie interesting customised business. Give me the one minute

pitch and what you'll do. We are a fully custom miesed bike, looking

to see them as fashion accessories, rather than just a bike. Different

frame colours, different wheel colours. OK. Design your own bike.

There is essentially one model, you just do this type of bike. For the

time being. Just the colouring. Who is your competitor. We have one UK

competitor in terms of custom mies sedation, but they start at �500

whereas we start at �220, the most �207. That bike and the colours I

want. We could have gone to China, where the wages are a lot less, but

you don't get the same quality. Even from an ethical point of view,

we feel it is much better we know where it works. Do you want to have

a go. First time, so I'm going to probably embarrass myself. It won't

be the first time. What do you think of the idea Richard? Mega

bikes, good, they're credible, I got it, they're ready, business-

ready, they've done the hard yards, and now they're looking for funding,

that's the right way around. As the hoards of buding

entrepreneurs head home, Richard must decide which ideas he heard

today will be the first of the So it is the end of the day, ai

heard all the pitches. Now comes the brutal bit, I have to choose

the first ones, that I think I could possibly invest in. That

means most aren't going to make it. The board over there, have my

favourites on t I'm having the last look, because I hate the idea of

missing out on one, partly because I don't miss out on a divooed one,

and I really feel, I owe it to all the guys, that busted their back

sides to come down here and pitch. So, I promised everyone I was going

to consider efpb, and I want to make good on that promise -

From the hundreds he's seen, Richard has to find the first three

ventures, he's willing to risk his money on. But who will he choose?

It is a vote load harder than I thought it was going to be. I

thought I'll come in, and say, yes, no, not that one, but you met the

people, you have a sense of why they're doing it. Do I really

believe in that idea and that person? And, the answer's got to be

he is ye to both. And you know, if the answer's no to one of those two,

A few days of the exPo, and Richard is ready to green light the first

batch of ideas. What he hasn't decided yet is how much seed

funding to give them. I can give them up to �5,000 to kick-start the

business, that's what C capital is what it is about, but we need to

know what it is for and what they're going to do with it.

will be the first to prize the money off him? Hello boys. First

through the door is the lazy cam per, the catching kits for under

�60. It is the brainchild of 19- year-old Jacob and Andy, when they

were studying business at college. It was love at first sight really.

Andy understands me, a good compliment, I'm the messy one, the

dreamer. I sort of, I hope, directing. I had the weird maigs

for business N 80 years, everyone will be dead, do you want a high

score on duty, or be somebody who will make a difference. We need to

rise our awareness here, when we go to a festival, we want a giant

teepee, with flags and torches and bean bags, and banners, everything

that is lazy cam per, a huge teepee, to get the brand grown. OK. How

much money are you after? We're �4,000 or �6,000. From the

beginning I liked you and the idea. In terms of the money, I will put

in �3,000 but I need you focused on translateing it into sales. It is

not brand awareness, it is selling the kit. How does that sound, can

do you did with �3,000. To have him on board, and his ideas, to help us

go further. Something we'll achieve in five or ten years, he could help

us achieve in one year, a lot of pressure on his shoulders. If it

goes wrong, we have a lifetime to improve our credit rating.

Hello. Thanks a million. Next up designers, Poietic Studio, they've

bouncing bonkers ideas around since they became friends at the age of

nine. This is our nervous toaster, added

jumpy bits inside, so you plunge it down, and it is content for a while,

and then it will be nervous, until it gets all too much for him. The

toast pops out. When you're doing something so new, it is really,

tough to convince people to give you lots of money. So this concept

of Spincter shapes, you call it a reflectal, - I can't know how to

describe it, - as he does his business, it turns your dog's poo,

into a little turd sculpture, a magical moment. That's spot on.

We've showed a couple of people this, they either want to talk more,

or just completely never talk to you again. No sit.

We invested everything we have, I suppose. Yeah. Is that a bad thing?

At the heart of what you guys do, is it art or business? I don't

think it is either. It is just about creating stuff, that we

strongly believe in. That can offer new experiences, that are positive,

and bripg people together. What are you asking in terms of money, and

what's it for? I've really want to invent a T mission, creating

something, that can reinvent tea. I'm not currently aware of

reinventing teapots per se, can can you give me indication of it?

have a few ideas, going around, currently. Um, you're saying, take

a punt on something that we haven't even yet invent. It comes across as

a gamble. I do think the creativity's is exceptional in

terms of what you done so far. This is my high risk wild card play, I

would like to put some money in, can �3,000 start you on the path

you want to. Four County What do you think.

You said yes at three. 33,500 would be fantastic. Surpriseed. Feeling

really good. But, yeah, blown away. Yeah, I definitely wasn't expecting

that kind of positivity. And finally, there's one place left

for cycling fanatics, Ben and Jes and business mango bikes which

complete the first three startups. No suits today boys, very casual.

Have you two minutes. We are a brand new bike company, which

allows you the customer to build the bike from the groundup. We're

trying to turn bikes into a fashion accessory. They were friends when

they had a Ulrika moment. This idea came into to import bikes and offer

it at a reasonable price. The idea grew, and we felt they shouldn't be

cheap but fashionable and affordable. I thought you should

have accessory. Purp pells, and different colours. For Jes, it is a

dream come true. I want to be my own boss and don't have to answer

to anyone. My mum has wanted to get the job and be secure, I'm always,

Do this myself. Sales so far, nil, on-line interest, loads, but never

judge a Facebook by its cover. first day, when the sight goes live,

how will you get people to see it We've varied voting, a thousand

voters on Facebook. It will absurgeon of Facebook purchasers.

There's a Mitt, of likes of Facebook, if you get a thousand,

the engagement is 2% of your like, so you need to think about, if on

day one, you face with a stoney wall of silence, or like, two

orders come through and that's it, what the hell are you going to do

with custom Can you tell me where I'm at, I'm about people and the

ideas, I like you the people, and idea. So I'm definitely for paying

money in. Things I would be looking at is I want to see how many have

you solid, obviously, what were the first one weeks, two weeks, what

were the Facebook translates into. I want the robustness of the supply

chain, the stock management, because you can do every colour in

every part. What about red pedals, and you want to manage the colours,

and cope with hopefully will be a ramp of demand. Well done.

Brilliant. We've he's very keen, so we're ecstatic. It is hard enough,

we want to high five on the way out of the room. You should high five

him, you just got �5,000. So Richard has his flee ventures and

they've weeks to prove they can be their own boss. Camping, sculpture,

and custom miesed bikes, that's a motley crew of different

investments. But they've all got potential. They remind me so much

when we were starting out. There's hard work and a lot of graft

involved. They have six weeks to prove they're worth further

investment. Welcome to Huddersfield, HQ of the lazy cam per. The boys

are keen, to follow Richard's advice, and get selling. 500 tents

arrived from China, but there's a big problem.

No-one anticipates problem, you anticipate you could have problems,

but when it actually happens, no- one's truly prepared. You never

think that OK, we'll buy the tents and they're going to be substandard

quality, so I'll get them all sowed in the UK. I didn't plan for that.

The tepts have straps that are too short and no choice but to unpick

every strap and sow on new ones, because he nor Andy can sow,

there's cheap labour in Far East in Huddersfield. I lay in the dressing

gown, and he asked me can you sow, and now I'm sewing. When cheap

labour doesn't work, it is time to call in the cavalry. Get the call

at the 11th hour, "Mum can you come and help us please if you don't

mind". Yes it is a common thing with Jacob, so, he's still my

little boy. Yes your little boy with boundless optimism, even in

the face of disaster. This is a great start to the story. It is a

down side that we've had to do this, but positive light is that we've

been able to check every tent and adopt a little bit more of

personality. One down and 499 to go. Yeah! From faulty goods to no goods

at all. I love Richard, they strike me as guys with creative minds, but

I can't invest in random creativity. I'm not an arts sponsor. I need

them to prove they can invent something millions of consumers

will buy. Best of luck with that Richard. Completely ignoring his

advice about creating a commercial teapot, the boys are pouring their

energy into flogging their drink's dispenser, so they've gone to the

most logical place, not high street but Kensington Palace and English

National Ballet summer ball. There seems to be a lot of high profile

people coming. It is nerve-racking. The key thing we want to show roich

Chard is there's a demand for what we are doing. Strictly Come Dancing

judge, is the first to get the sales pitch. Nothing's happening,

darling. It is going to pour over my head, I'm going to be gungeed in

cocktail. This is better than getting attitude from a waiter. So

then it gives you half. It is gimmicky. I don't know where I

would use it. You'd need high ceilings, I live in Camden, I don't

have massive ceilings. That's phenomenonal. Thank you. Will movie

hard man, Sean Behan fall for the pater. How are you doing? Yeah,

we've never seen one of those before. Well they're not too

expensive so: How much? �8,000. Yeah, thank you, nice to meet you

anyway. I think I was a bit quick with the

sales technique's not right. But it was good to meet him. I'm star

struck really. That's a number of celebrity spoted, 15. Sales, zero.

The mango Bike boys are in London and on a mission. With the on-line

launch of their launch imminent, they hot foot it to Chelsea.

They're driven and they have a good product. When I gave them the

�5,000 C capital, they talked about how they're going to sell loads of

bikes, because they have so many Facebook likes, I hope Facebook

likes, are not the same as sales. The boys have a hasteingly meeting

with Made In Chelsea star, Jamie Language, and they're hoping to do

a deal with him. Jamie runs Kandy Kittens, a Mick and mix sweets

brand for WAGS. The boys are to make a brand new bike for Jamie to

sell. What they hope is they'll piggy back on his on-line's

presence? We're happy to have links from our site to your sight. Which

will give you more traffic. And Twitter S massive for us. We've got

nearly 80,000 followers. What our traffic. Around 150 to 200,000 hits

a week. As soon as I say, bike, made by these people, the traffic

will be ridiculous. The boys are so taken with Jame wri with on-line

promises they're willing to slash the profits they make on each bike.

What is the price you're selling the bikes at? �299. If we were

looking at a per cent, what would it be? Of the �99, we'll want �120.

If we're done on this, we would be more towards the �60. But that's

just the way it works out. We're able toin crease the amount you can

give us, we can increase the support we can give you guys.

looking at increasing it, and look at investing in our marketing. Look

at the numbers, and see where we go from there, and hopefully, we can

get agreement. That's how rich people get richer. That was good

fun and very interesting. We have a lot to be thinking about. It made

us aware of the publicity they can give us, their target market is the

same as ours, we will work out and see what we can do, and see it not

only as money-making opportunity but massive marketing opportunity.

With although on-line friends, the boys have virtually millionaires.

After trying and failing to sell their niche drinks dispenser, the

boys are getting down to designing.Er boys, that doesn't

look like the teapot you promised Richard. With Richard's money,

we're going to develop, a concept we've been wanting to explore for a

while, called the Dancing Fireplace. We're working with air, fire and

water. The dancing fireplace is an idea for installation which flames

respond to music. Every house should have one. This is the moment

of truth. # I'm a fire starter #

Well the room's hotter. The boys may be fired up but

decision to abandon the teapot idea is either incredibly brave, or

incredibly brave. What will Richard make the change of direction?

to see you. Last time we spoke, we said we'd do a teapot. Things will

change since then. You were going to revolutionise the way we make

tea. In the timescale, we have this other idea, a dancing fireplace.

Right. To me, it feels more in the installation side of life than the

scaleable thing that I think we can make and sell a lot of. It keeps

coming back to sense wall toucha with you guys, do I think you guys

have a rare, and very valuable talent? I really do, that's a big

fat tick, but how you apply that, where you make a sustainable career,

and business for you guys. What we want is to build something, that is

bigger than ourselves, we're key aspects of it. But something, that

has a wider value. I don't want to get in your face, but you guys

specialise in vague, and in business, it tends to be specific.

I love vagary, but I don't know how you guys, are eating, I'm worried

about that, and I want you to get cash in the business. It is a

comfort to haveing that is earning of its own. Intellectual property

that is repeatable, like the design you can sell a million of. That's

where I would be, because it gives you sustainability. They don't know

whether they want to be a studio recording, installations or making

great things that people buy, only those will answer. Time is running

out for the boys. In a couple of weeks, Richard will have to decide

whether or not to offer them a potentially life-changing deal. In

mango bikes HK the moment of truth has arrived. Ben and Jes, told

friends and Twitter followers, the mango bikes website would be going

live at 7pm. With under an hour, the boys are enjoying the wonder of

No answer. Well there's no way in hell they've left the site looking

like that, is it even up. No it's down. I can only imagine they're

going to work on it. They've gone home. I can't imagine, it would be,

they know fine well we need to launch tonight. There is no way in

hell they've left it with it down. This could be them. Jes at Mango.

We're a hour away, and the web guys don't know why it is down. They

probably left the office half way through uploading it. The 5.00 bell

went and they went, better to leave a job half done. We were on it

about half an hour, and now it's gone down, half an hour, 45 minutes

ago. We're meant to be launching it in an hour's time. I don't think so.

Is there any way the site can go without the payment, go live then.

OK, let me have a look, I'll call you back.

That is... Taking the piss a bit. He's trying to set the site up. He

didn't know it was down. So he's going to set the site up and

payment won't go through,. Until? Tomorrow morning. He's calling you

back is he? He's going to call us, but payment won't be available

tonight. What a locking piss take. Language, I hope the site is up by

the time they see Richard. In Yorkshire, the boys are attending

their first festival in a business capacity. They want to launch their

brand and sell tents to the festival goers. About 150,000

people attend Glastonbury, 80,000 Leeds and Reading festivals.

Skipton is a little bit more intimate. We're with a business of

Lazy Cam per, we want to provide a camping bag for �06. What's the

catch. Probably not, I think �60 is a good price. The boys are working

so hard they fail to spot the arrival of surprise guest. And he

is not a happy cam per. It is not very big is it? It is a tiny little

thing, it is like a garden party, not a festival. I think they're not

thinking big enough. This is almost like an expression of it, they're

not thinking big enough. Do they know where they are. Is this them

here? No. Does anyone know where they are?

my God, goodness me. Am I seeing that properly. Why is he here.

right boys. I thought I'd come and check out Lazy Cam per. What's

going on? What we're doing is telling people about the kits to

open the conversation we're finding people on the floor, and saying do

you want to buy a camping set, we sit and try and get people to come

over to the stall. Is this you. have you yesterday. Is this the

wigwam I gave you �3,000 for. need add van. I walked passed this,

without knowing it was you. Do you not need the name on t It's just

been, but like. A sign for this one. You're not going to get a sign in.

We can get a sign in by the weekend. We know we need logo and banners

for it. First time I met you, you showed me this, pack, and you

talked about how you're going to get it stocked in Amazon and get it

out there. We spoke with a guy, and he says they're going through a

change of things, so I don't know what is happening there. We're

following it up, but spoke with somebody for Asda, they have a buy

local scheme, they buy locally, if they can, we have a plan starting

money to Wednesday, to approach them, ringing them up. Sounds like

a great deal. Retailers, will stock it, so they can sell again and

again. Rather than one-off contract in a festival. I want to help you

guys be as successful as possible. S That's put the pressure on, but

we have 40 names, my phone bills going to go through the roof.

must get buyers interested in, but will the Lazy Cam per, be too lazy

for Richard to invest. Nice sign boys! In a matter of days, these as

expiring entrepreneurs L have to sit in front of Richard and prove

they each have to have what it takes to be their boss. Lazy cam

per must land a big buyer. Richard wants us to get retailers to see

sales ticking over. We are going to make mistakes, they have Richard

behind us, we will be quicker and better and stronger. The pair needs

to persuade Richard, they can be cash cows, as well as creators.

be commercially creative, you don't lose integrity. But you need

someone to buy what you do. Manning depot boys, must show they

can meet the potential demand for their bikes. Having Richard on

board, and involved in our company is huge in itself. If we don't get

Richard's investment, it will be disappointing. The guys will be

nervous, and that makes sense, I know how much getting my backing

needs to them. The reality is I could back all of them, none of

them, anything could happen. The field is wide open. But will any of

them have done enough to persuade Richard they deserve a game

changing investment? I feel confident. It is huge, the biggest

day, it is the game change, what would take five years, Richard

could help us do today. It is mad. We're now in a much stronger

position, to come into this and talk to Richard. Hopefully, he will

be excited by the potential. Today is hugely important. Sounds weird

but life-changing day probably. Massively, from a business point of

view and personal point of view as well. D-Day at Richard's HQ. They

wait whilst Richard takes one last look at business plans.

The boys had better be prepared when Richard's money is at stake,

there's not much room for small talk. I want to hear about

retailers you got signed up. Tell me, who is currently stocking Lazy

Cam per. We didn't get any stockists. You told me you had

Amazon stocking a thousand. Then they went through a change of

management, and the guy that told us, sorted it, hadn't been sorted.

If I'm being blunt, your business plan didn't make much sense. There

wasn't a clear strategy of how you're going to create revenue or

profit. I'm worried about the stock, I think you have a hot product. But

it could go, up, if you can't cope with the complexities of it, or

different variations. As a stock management problem, is a real hum-

dinger. The one thing is it is a proven model in America, and there

are companies making a fortune doing it there. If someone else can

do it, we're confident doing it as well. Just because someone else can

do it, doesn't mean you can do it. When I came to see you in the

festival. You looked me in the eyes, and 9am, you will sell the four

stockists. We went through every route, and we had a call from the

finance director, with dedicate last eight months of our life. I

know it is not much, we put every hour into this, trying to make this

work. You know what I can't work out with you boys is, how serious

you really are about this? Is that fair. Why do you think that? When I

first met you, you were high energy and impact, I thought you would be

able to get retailers, by now. thought we would as well, but it

was harder than we expected. You're valueing yourself as being worth

�100,000 today. I guess a lot of that chunk, is our view of our

potential, and our ambition. Like a big chunk of it. And, I think it is

a good time, if you were to involve, Dr Very much, I think we're going

to be a bargain now. You're valueing is essential potential.

But the thing you have to believe in potential is a articulate

business plan, how the value will be achieved. We're just waiting now

from a stack management point of view, on hearing back from Taiwan,

who had a load of floods, as well, which I suppose could cause

problems. But.. We need the money to go out there. I'm investing for

you to go to twie want. A small portion. - Taiwan. One last thing,

we're hard working and we will push for this, so, that's the idea.

want to learn more. It is a good product and good idea but the

results are making me doubt, that belief. This is a business decision

about investing, so I have to understand what it is that I'm

investing in. And what that, what the results of that will be. : Look

at what we'd use your investment for, the key things is to bring in

a more business orientated person that can direct us. You're saying

there's an issue you haven't worked out how to apply your creativity to

the world of business. But if I give you money, you'll find someone

who can solve that problem for you, unfortunately that's the wrong way

around. Remind me, one of you is still at Ulster Unionist. You're

telling me, you're the person solveling the logical night mare

and you're still at college. I will do what is most beneficial to

myself, come September. I have two months to decide. This is freaking

me out, I would never want you to walk away from a degree. But, I

don't want to invest in a business, where half of the founders team,

isn't there. I need, I will take a few minutes,

because it is an important decision for you and for me. I'll come back

in a few minutes. I liking the guys, right, and

they've come up with a good idea. The question is have they executed

it well? And that's the money where you know, it is less clear.

didn't think I would be this nervous, but I am. But it may come

good for them. But, you'd be into hope, you got to, relying on hope,

rather than real results. I like this desk. Yeah. If you approach

this in a rational sense, you should run a mile from investing in

them at this point. But wider view, saying there's unusually gifted

about these two, in terms of how they think, and maybe with the

right degree of help and mentoring, they can get there. Got loads of

worries about Mango Bikes, there's a huge complexity to their business.

The idea he might be able to continue doing his degrees, while

doing this thing... Sit scary. guess with the investing with

others, you have to go, are they more likely to make it than others

Thanks for waiting, I just want to get my head around the numbers and

things. The thing about you boys, is what I, it always feels like

you're on the cusp, of really starting to nail it. I think the

product and the proposition, in my peace process, it remains a good

one. You're asking me to put in a massive amount of money. That's

real money. Into a business where, I think the team are good, and I

think the product is good but I'm afraid boys, as much as I like

you and the products, I can't So I wish you a lot of luck. Thank

you for your time. I appreciate your time too. See you soon, thanks

for now. We are guted. It feels like it had been a huge life-

changing opportunity which isn't there any more. It is gone. And

we've worked so hard. All this, and will you go. Behalf, that's fine,

we'll see how it goes, brush it off and keep going. I probably gave

them a hard time. But that's because I think I've given them a

soft time to begin with, because they're carries matic and they have

the chat. It is a good idea but as time's gone on, they've just failed

to actually deliver on the promise. I hope that changes for them.

Sorry for keeping you waiting boys. That's all right. I took quite a

while, because, I'm in two minds. Your business plan didn't make much

sense to me. On the other side, you are definitely top right hand

corner in terms of creativity, but because of where you're currently

at, I can't, today, invest. What I can say is, if you do, one

profitable contracts, then I will invest. Right. OK. Yeah, I hear

where you're coming from, and it is the perfect scenario. That's great

then. Go get the contract. That's great, thank you for your

time Richard. Last six weeks has been full on, and it's been a

really valuable process. Richard had the carrot, saying if we get

the big commission, he's on board, so hopefully, by next year, we'll

have Richard on board. Sorry to keep you waiting. Do you mind if I

clarify what I said earlier. The business is 100% what I'm

interested in. And there it is, that's, if the business needs me,

that's where I'm going to be. OK thank you for answering that

question. I'm still got to make I'm a big fan, and I would

definitely like to invest. �50,000 to see if you can make a real

success of Mango. Wow, that is fantastic to hear, thank you very

much, we've been sat here, and my heart's beating away like mad.

right boys, nice one. We're in business. Great news, and it's, it

will get us out, mango bikes will be as profitable and successful as

it could possibly could be. Good Next time. Tell me what is it. Sink

or swim for another three ideas. Richard calls on a friend. It is