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Wright Time

Sarah Bean - Monday 27.07.09, 08:24am

Sharon Wright’s appearance on Dragon’s Den was a masterclass in how to spot a gap in the market and gain investment.  Sharon invented Magnamole, a magnetic rod that feeds wires and cables through wall cavities. She discovered a business opportunity when having a phoneline installed by a professional engineer using a coat-hanger as one of his tools. Her health and safety background told her this wasn’t suitable, and research into the market showed there were no relevant alternatives available. She soon had a prototype built, and the orders shortly followed with major businesses around the world.

What is remarkable about Sharon is that she didn’t really have prior knowledge or experience of the area of business she was walking into, but that didn’t stop her from taking advantage of an obvious gap in the market.

Sharon openly admits she spends 16-20 hours a day growing the business which shows enormous dedication and belief in her product. The Dragons’ were bowled over with this dedication, as well as the research and knowledge she had gained on her market. The thing that sealed the deal, as if it wasn’t sealed already, was the fact Sharon had strong ideas of where she wanted to go next, developing new products to improve her invention.  Sharon Wright is a shining example of how to create your own space in a market.

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Tags: SME · Small Business

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1 comment so far

  • 1 andrew preston // Aug 27, 2014 at 7:20 am

    think its a fantastic idea and you sound eager and
    lot of hard work as paid off !!

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