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Business plans - candidates responsibilities?


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Old 18-12-2014, 09:14
Merida
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Much is now being made of the business plan concept of the show and why someone with a poor business plan makes it to this stage of the process.

Why is it the responsibility of the production team to check whether they have a viable business plan or not? They presumably get thousands of applications, why are they expected to then start doing market research on all these business plans? It's the candidate asking for the investment - its up to them to make sure they have done this properly. We know LS mentions business plans as the weeks go on "I know your business plan is to do x" but how much detail does he know? Is it just a basic outline/concept? Then presumably they are expected to flesh it right out for the interview stage? Roisin left her job to go on the show, yet she had a very poor business plan based on non existent market research and very little product knowledge. That's entirely her own fault. You wouldn't go do a bank or any other investor and say you have a great idea, but do they want to do some market research first to see if they they think it's worth investing in?

I think it's entirely the candidates responsibility to make sure they have a viable business plan, not the production team.
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Old 18-12-2014, 09:24
Philip Wales
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Not really, but this again comes back to is it the BP or the Candidates that gets on the show.

The producer should apply some simple due diligence to the process and weed out non viable BP's and look for basically what amounts to lies, it doesn't take a lot a work.

If you start with 30k candidates, you slim that down straight away by just looking at the BP. When your down to maybe 100 you can take a closer look at the BP's, then when down to say 20 have a more in depth look. But it seems that they pay more attention to how the candidates appear for the camera.
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Old 18-12-2014, 09:43
Merida
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Of course they are concerned with how the candidates appear on camera - that's ultimately what the production team are concerned with here, an entertainment television show, it's what they get paid to produce. They're not the ones looking for an investment or making an investment. I don't think it's unreasonable to expect the candidates to take responsibility for the viability of their business plans.
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Old 18-12-2014, 10:26
Maxatoria
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I'd assume the minions make sure that nothings illegal like setting up a crack cocaine factory etc and then go into more the ensuring we'll have a fun filled 10-12 weeks with enough people butting heads to give us the lulz and after that its up to sir sid the james to sort out the rest
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