The premise
If you live in Canada, you’ve probably seen a TV show called Dragon’s Den. For those of you who never heard of it, it’s a show where a panel of 5 investors listen to business ideas from people seeking capital to take their idea or business to the next level. The format is very straightforward: Candidates ask for a certain amount of money in exchange for a percentage of their business. These candidates would use the cash to grow the business, so both them and the investors share the risks and the profits.
As part of the Ottawa Startup community, I think it would be awesome if we had a “Dragon’s Den with Human Capital” show. I call it Leader’s Lair. We have lots of technology talent in this city (including myself), and many of us are trying to start our own thing. However, it’s hard to move a mountain by oneself, and many times, one just needs a hand, not employees.
The Pitch
Create a web-based show (Leader’s Lair) with a similar format to Dragon’s Den, where, instead of money, the currency is Human Capital!
Let me explain: Money can buy things and pay for people’s time. That’s wonderful. However, I find (and I’m sure many of you do without even realizing it) that to get where you want to be, you need another type of capital: Human Capital.
Human Capital can give you feedback, connect you to the right people, show you the ropes, and most importantly, care.
Most Leaders I have met through the Startup Ottawa community want to share their experiences. So much that they take the reigns of our very own “Ottawa Start-up Community” and keep it alive and kicking. It’s a lot of work, for really no compensation. It’s fantastic! They do it because they care. Unfortunately these people become really busy and sought after. Naturally, the amount of feedback, connecting, showing, and caring towards any of us tends to zero rapidly.
We can bridge this gap and have fun doing it. How? Read on.
Leader’s Lair, the show
An innovator presents her business idea, and offers a part of her start-up business in exchange for a Leader’s expertise, in front of a panel of 5 Leaders. Examples:
- I need Business expertise – Where is the money in my idea?
- I need Marketing expertise – How to make my idea appealing?
- I need Sales expertise – How to price and sell my product or service?
- I need Execution expertise – What do I need to make this idea happen?
Discussions between Leaders and the innovator is encouraged. If a Leader finds the idea is interesting, he can offer his expertise as a commitment (e.g. half a day of his marketing expertise every two months), and negotiate the terms (e.g. for 5% of the profits for the first year). If the idea is of no interest to him, the Leader should explain why to the innovator.
The commitment from a Leader to an innovator keeps the communication channel open (helping her succeed with expert advice). And the promise of something in return from an innovator to a Leader is an added incentive for him to care, which leads both to success!
Call to Action
The concept is pretty simple. A couple of cameras, a panel of committed Leaders, movie editing software, an internet connection, a handful of wannabe innovators, perhaps even a volunteer M.C., and we have a YouTube show worth watching.
Are you in?
