KCB Lions’ Den will this Friday be closing its call for applications from businesses interested in being part of the television series.
There are still a couple of days left, though, so if you haven’t applied yet, here’s what you and your business stand to gain from being a part of the fourth season of the show.
1. Funding in the Den
The main reason for applying to the show is, of course, to get funding and get to work with the investors, or Lions, to take your business to new heights.
A lot of entrepreneurs who’ve got past the due diligence stage have been lucky enough to receive funding on the show, enabling them to grow their businesses exponentially and even branch out into other markets.
2. The exposure
The show airs on KTN, which has a wide national viewership. Reaching this audience presents a great opportunity for any entrepreneur to market their products or services for free to millions of potential customers across the country.
Entrepreneurs are alerted a week before their segment airs, which gives them a chance to let their networks know to watch their pitch. They can also take advantage of the reach of various social media platforms during the airing of the show to reach even more people.
In fact, KCB Lions’ Den is the top-trending topic on Twitter every week when the show is on. Entrepreneurs can leverage on this hashtag to drive people to their own website or social media assets.
3. Free publicity
Being part of the show gives entrepreneurs the rare opportunity to appear on TV, in newspapers and on radio for free. Entrepreneurs are offered interview opportunities where they get to talk about their businesses and their experience in the Den.
Standard Group is KCB Lions’ Den’s media partner, which means entrepreneurs get the opportunity to appear across the company’s numerous media platforms and digital sites. These free opportunities are a great push for any business.
Further, successful entrepreneurs who get through the due diligence stage and get funding are contacted to appear on the next season on a segment of the show that showcases their success. Again, this is a really good opportunity for entrepreneurs to further build their brand.
SEE ALSO :Understanding Due Diligence
4. Funding outside the Den
Some entrepreneurs have got funding from outside the Den despite not striking a deal on the show. This happens due to the exposure they get after appearing on the show. It helps if the entrepreneur has an excellent business idea that attracts other venture capitalists.
One of the biggest benefits that participants leave the Den with is knowledge. After the KCB Lions’ Den finalists are picked, they go through two levels of training. The first level teaches presentation skills, how to engage with investors and the process of preparing a good pitch.
The second level takes the finalists through business valuation training to enable them to come up with a figure that adequately captures the value of their enterprises. This helps an entrepreneur know how much equity to offer and at how much.
Mentorship from an industry expert is a real blessing to an entrepreneur. In fact, the knowledge and skills garnered during mentorship can sometimes go further than cash does.
There will be times the Lions will be interested in a business idea but offer mentorship rather than financial investment. In this way, a business owner gains the benefit of the Lions’ industry experience, and is better positioned to reach levels where capital investment will then be more beneficial.
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