Page 87 - James Caan - Get the Job you Really Want
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4. PRePARAtion
Even after all the hours I have spent listening to pitches in the
Dragons’ Den, I am still amazed at how many of these other-
wise bright and talented entrepreneurs do not understand
the importance of good competitor analysis. If you don’t know
your competitors, you are going to fail – no question. Yet time
and time again, when I and the other Dragons question them
about what other products are on the market, they simply
don’t know.
That’s why, of the people who enter the Dragons’ Den,
ninety per cent fail. And the reason is simple: they did not do
the right research. They did not do their homework. Therefore
they come in and they flounder. We sit there, horrified. We
genuinely do not know who is going to walk through the door
next, but these entrepreneurs know that this event could
change their lives. But even so, they still don’t prepare properly.
It’s unbelievable.
75 preparation
