Importance of Negotiation in the Den

Yakubu Yakubu was the first entrepreneur on this episode and he came to secure an investment in his media company ‘Eclectic Design Grade and Enterprise’ to facilitate the production and distribution of a DVD magazine called D-9 Thing. But his proposal was turned down on the grounds that this entrepreneur could not convince them he had a market for his product or that he could compete with the conventional magazines.

The second entrepreneur, Anthony Ogunlade and his partner came in with a concept they tagged "Naija Music League," a mobile and internet-based music game targeted at avid fans of music and football in Nigeria. They were seeking 50million naira and offering just 30% equity but did not secure any deal since the business viability of the idea could not be proved to the dragons.

Ebunju Chidozie, came with a business idea that he said would help protect the environment, and generate huge sums for his company. He needed 10 million naira in exchange for 15% equity.

This entrepreneur seemed to have lost out owing to the fact that his business plan was not carefully thought through and the dragons were quick to notice the loopholes.

The fourth entrepreneur in the den, Obihare Chima came in search of 7.8 million naira in exchange for 20% equity in his "document management services" business – a platform which he intended to use in offering large organizations industrial scanning services but the dragons did not invest here because it did not have any unique selling point.

The fifth entrepreneur, Matthew Olateri came asking for 20 million naira in exchange for 20% equity in an auto club called the "Auto-Care Alliance." Though he had a cheerful time with the dragons who confessed to liking his attitude and personality, he was unable to convince them that what he was proposing was a viable business opportunity in Nigeria.

Efe Ademola was the sixth entrepreneur to face the dragons asking for 9 million naira, sixty-eight thousand in exchange for 25% equity in his first-aid business.

According to the dragons, his business idea lacked clarity, and his presentation was devoid of well-articulated thought and he was politely dismissed.

The last entrepreneur in this episode was Aaron Adegoke Wright who came seeking for 5 million naira, while generously offering 50% equity in ‘Indigene Creations’- a company that promotes Nigerian and African culture through artistic products.

He got the deal due to his articulate presentation and good knowledge about the business but was made to part with 75% equity by the dragons after what seemed like a drama full of suspense.

The point remained that he left the den a happier and more knowledgeable man who obviously had high hopes for the deal which he had just secured.