Another exciting episode of the KCB Lions’ Den season 3 aired on KTN television on Tuesday, September 11, 2018. It featured five entrepreneurs who passionately presented their ideas as well as defended them to the 5 thirsty lions present on the show.
Among the entrepreneurs present on episode 2 of KCB Lions’ Den were Eliud- who pitched his photography portal, Tamara Mueni- with the kids cookout program, Brick Foods –with their fish products, the data integrated dynamic duo- with their digital cashless system and Ian –of Ankara designs with a vintage touch.
As usual, the entrepreneurs had to make an elaborate pitch to the Lions in the hope of partnering together as well as get cash grants to improve their business. This week on the second episode of #KCBLionsDen , three of the entrepreneurs on the show were lucky enough to land deals with the Lion’s Den panelists.
Mr. Eliud, who pitched about the photography portal, was among the luckiest as he got offers from almost all the Lions. He could barely hide his excitement when he made a deal with both, the vivacious Joanne Mwangi and the techprenuer Kris Senanu for 1 million Ksh at 20% equity each.
The 10 year old Tamara Mueni who runs Home wise ventures also wowed the panelists with her home cook out program. Her boldness, confidence and eloquent communication skills enabled her to get a 50,000 Ksh grant from Darshan Chandaria and Olive Gacheru for her business.
The last business deal of the day was made from Darshan Chandaria to Ian from Vintara collection. The Lion was impressed by Ian because he had good quality bags, was cognizant with the fashion business environment, knew his financials and the competition. Chandaria partnered with Ian for Ksh 3 Million for 25 % equity.
Lessons Learnt from KCB Lion’s Den Season 3 episode 2
- A good pitch can get you some money; however a great deal will get you a strategic partner that will help your business grow beyond your wildest dreams. Always consider choosing a partner that can add value beyond cash and you can never regret it.
- Each entrepreneur has a dream, but to make the business venture successful, you must be willing to put in long hours, make sacrifices, never give up and most importantly believe in yourself.
- You can get investors emotionally invested in your business, if you make your goals become their goals
- For people looking to make their businesses in the food industry in Kenya, the first step should be to get Kenya Bureau of Standards (KEBS) certifications.
- Self-confidence is very important for any person willing to start a business venture, lack of it can derail even the best of business ventures
We congratulate the successful entrepreneurs who got to make the deals from the Lions on Episode 2.We can’t wait to see what KCB Lion’s Den Season 3, Episode 3 has to offer.