This is one of the worst products I have ever seen. The video is hilarious. Two women on a UK version of Dragon’s Den decided that single people should start wearing a bracelet that advertises the fact that they are single.
Why? Because there are so many single people in the world and it’s a great way to let people know that you’re available and willing to meet and greet. Really? These women argued vehemently with the Dragons about the worth of their product financially and socially. A stupid product with a stupider pitch.
Here’s another painful pitch where the entrepreneur was put on the spot about detailing the problems in his product. He admitted he had lost a great deal of money with his product and still expected that the Dragons would be interested in investing with him. They laughed in his face. Not really laughing with him. Laughing at him. Ouch.
When you’re going to pitch a product to a client or to investors you really need to have researched the market, know every advantage your product has over the competition and be able to offer the product at an attractive price. What many entrepreneurs tend to do is to overlook the fact that a great idea for a “new” product or to improve on a product has probably been done already and really isn’t that new. In fact, re-inventing the wheel so you can pitch something even better can be a total waste of time. You need to speak to industry experts, successful entrepreneurs and business people and test your product on the market before you look for investors.