DRAGONS’ Den has seen its fair share of fiery showdowns – and total meltdowns – in its nearly 20-year history.
So having come out of a televised head-to-head with not only the backing of two investors, but also the acolade of ‘most masterful pitch’ from the BBC, it’s fair to say Lottie Whyte knows how to sell.
Ms Whyte, the co-founder of sport recovery company MyoMaster, has now shared how others can earn thousands – after she won a £100,000 investment on the programme.
The entrepreneur kept a cool head as she faced down the ‘dragons’, and consistently defended her business amid a deluge of probing questions.
Sara Davies and Gary Neville were both convinced to invest, and another ‘dragon’, Deborah Meaden, even praised Ms Whyte as “absolutely faultless”.
Neville also heaped praised upon her, saying to fellow entrepreneurs “I’ve never met anyone like her in my life”, after the deal was struck.
Steven Bartlett was also left speechless after Ms Whyte shut down his criticism of their business MyoMaster – which offers a range of sport recovery equipment including CBD muscle and joint balm, compression boots, and massage guns.
Mr Bartlett said that he had “seen all this before” and was constantly sent massage guns which were “piling up” in his house.
“With all due respect, you’re not our core customer,” Ms Whyte said, perhaps reminding the ‘dragon’ that the average Briton is not a millionaire TV star who is sent “piles” of free gadgets by publicists.
“Our core customer isn’t getting sent free therabodies,” she added.
“They are people who love sport, they love running, they go to Parkrun, they sign up for 10k runs, we meet thousands and thousands of them.”
Dragons’ Den fans loved Ms Whyte’s confidence, flocking to social media to compliment the entrepreneur for standing up to Mr Bartlett.
Ms Meaden had also made an offer to invest, as did Peter Jones, but Ms Whyte and her husband and co-founder Joe – a former England and Harlequins rugby player – chose to go with Davies and Neville as co-investors.
Davies and Neville agreed to invest £50,000 each in the business.
Ms Whyte has now shared her top tips for pitching a business.
Before their successful bid to win over ‘the dragons’, Ms Whyte and her husband had practiced their pitch nearly 250 times, according to London Loves Business.
She said: “By the time you’re in front of investors or possible customers, you want your pitch to be so natural that muscle memory takes over when the adrenaline hits.
“The more you practice, the more you’ll internalise your message and delivery. This builds confidence, helps you identify areas for improvement, and lets you anticipate potential investor questions.”
She also outlined how it is not necessarily a bad decision to exclusively target a specific type of audience or investor, even if that means alienating others.
“If you appeal to everybody, you appeal to no one,” Ms Whyte said.
“You’ve got to be brave enough to identify your niches and go after them when you start your business.”
A clip of Ms Whyte’s pitch, uploaded to the BBC’s YouTube channel, titles it “The most MASTERFUL pitch in the Den”.
It comes as the BBC axed Sara Davies’ series Ultimate Wedding Planner just days after she revealed she had been going through a “rough time”.
And earlier this month it was revealed that Nicola Wood, who was slammed on Dragons’ Den in 2017 for her hair extension holder idea is now set to becomie a millionaire.
And Peter Jones also hit the headlines this year showed a rare softer side as he was visibly moved when watching artist Charlotte Clemence break down in tears while discussing the death of her daughter.
Lottie Whyte's top tips to succeed in pitching
Dragons’ Den star Lottie Whyte won a £100,000 combined investment from Sara Davies and Gary Neville.
She won them over after standing up to rigorous questioning from the ‘dragons’ – and leaving Steven Bartlett speechless in a tense head-to-head about her sport recovery business MyoMaster.
Ms Whyte has now shared her top four tips for winning over investors.
Know your unique selling point
Ms Whyte told LLB that it is important to not just tell investors what your business is, but to stress “why it matters”.
Outline what exactly makes your business unique and how a customer’s problems could be solved by it – in a way that your competitors cannot.
Believe in your business
Ms Whyte revealed that she has set up her own “hype folder” on her phone containing positive messages from customers and other evidence of “winning” throughout her business journey.
Being reminded of your successes will help push you “that little bit further” in the harder times, and believing in your product is “the only way” others will too.
Practice, practice, practice!
Ms Whyte practiced her pitch nearly 250 times berfore going on Dragons’ Den – and it shows.
She stands up to intense questioning and criticism from several ‘dragons’, but always has an answer prepared.
Identify your niche
Appealing strongly to one type of customer or investor is a reasonable strategy, even if it means alienating everyone else, Ms Whyte says.
“If you appeal to everybody, you appeal to no one,” she says, stressing the importance of being “brave enough” to go after a certain niche when starting a business, rather than trying to please everyone.